The film centers primarily on the relationship between Lee (Ryu Seung-beom on the right), a drug dealer who fancies himself a venture capitalist, and Doh (Hwang Jeong-min on the left), a rogue cop who allows Lee to continue his occupation in exchange for information on other dealers and cash payments. How the film recalls classic film noir is the exposure of all of the characters as corrupted, from the small-time pusher to the higher levels of government. In this respect, it is especially fitting that one of the most shocking moments in Bloody Tie is reminiscent of a similar moment in Fritz Lang's The Big Heat. The concept of family also proves to be corrupting and corruptible, Lee's uncle is presented as both a former drug addict and dealer, while Doh lives with the wife of his dead partner. Like the classic noir films, everyone has his or her price.

Visually the film is indebted to Martin Scorsese who has famously cribbed from so many older filmmakers. There is also some split-screen work which recalls Brian De Palma. As in the above scene, there are shots (literally) from unusual angles. While Scorsese and De Palma's movies of the early Seventies incorporated obvious tributes to the old masters who inspired them, one could look at Bloody Tie as a Korean homage to the American "film generation".