Full spoilers follow.
The film's premise is the "double hijacking": rather than assaulting the aircraft, the South Korean authorities, on Nobody's design and under KCIA director Park Sang-hyeon's authority, decide to take the plane from the ground by deception. Lieutenant Seo Go-myung, an Air Force officer with no intelligence background, is pressed into service as the voice that will guide the hijackers down — talking them onto a South Korean runway while they believe they are descending into North Korea. In parallel, Gimpo is dressed as a North Korean arrival: uniforms, greeters, staged welcome. This is the film's most outrageous sequence and it is drawn directly from the real 1970 Yodogo incident, in which South Korean authorities genuinely attempted this hoax.
The unravelling. The deception does not hold cleanly. With the plane parked at Gimpo, the hijackers realize where they are, and the standoff hardens into a siege. Denji, the hijackers' leader, stabs himself and issues an ultimatum: unless the aircraft is permitted to leave before he bleeds out — or before noon, whichever comes first — a bomb aboard will be detonated, killing everyone. The film's comedy of endless committee deferral collides here with a deadline that cannot be deferred.
The resolution. The Korean first lady arrives to announce that the plane may take off if the hostages are released. But the operation's own methods have poisoned the well: when Go-myung radios the agreement to the hijackers, they refuse to believe him — or any assurance from the capitalist governments he speaks for. The lie that was built to save them has destroyed the one thing needed to save them: credibility. This is the film's cruellest structural joke, and its thesis in miniature — a state that manufactures reality forfeits the ability to be believed when it finally tells the truth.
What the ending reveals. The aftermath is where the satire lands hardest. The crisis is converted into "good news": a triumphant official narrative, managed and distributed, in which the state's competence is the story. Go-myung, whose voice and nerve carried the operation, does not receive the recognition his actions earned; the credit is allocated by the people who control the record, not the people who did the work. Nobody, having architected everything, remains exactly what his name promises — outside the account entirely, uncredited and untouchable.
Hidden meanings in retrospect. On a second viewing the running press-management scenes stop reading as background comedy and start reading as the actual plot: the hijacking was always secondary to the drafting of its official version. Nobody's direct addresses to the camera reframe the film as a performance about performances. And the title, delivered straight in the opening, is revealed as an accusation — "good news" is not what happened, it is the product assembled afterward from what happened, by men whose deepest fear was never the bomb but the embarrassment.