Hybrid genre such as faction novel and fusion historical drama has become more and more popular since 2000 in Korea. Historical fiction concentrated more on imagination and popularity rather than historical sources and research. The Moon embracing the Sun by Jeong Enguel reconstructs history with writer’s imagination. In this novel, the writer creates narrative with fictional characters in spite of the Joseon Dynasty period. But what made it even more interesting is that there is structural similarity between the narrative and ideology of neoliberalism which is ideological form of contemporary Korea. First of all, the novel’s main characters who are Her Yeunwoo and Lee Hwen are aimed at winning love and political victory. In this process, their antagonists met their death. Her Yeunwoo became queen and Lee Hwen founded ideal nation after winning war against the opposite party. These values such as ‘competition’ and ‘success’ is important ideology which neoliberalism places emphasis on. According to neoliberalism, individual can win social status and wealth only after he has to survive limitless competition. People identify themselves with the novel``s main characters and dream of achieving success like Her Yeonwoo and becoming heroic leader like Lee Hwen. But it were Her Yeonwoo and Lee Hwen that were a successful competitors to gain ideal world. They are ruling class with capital who reign over the socially weak class in neoliberalism system. There are few or none in subjected class who can win success in this system. This shows that the impassable rapture between classes is the essence of myth of success that neoliberalism emphasizes. In other words, there is a structural homology between the narrative in The Moon embracing the Sun and neo-liberalistic capitalism system. In superficial narrative, this novel emphasizes human values transcending social positions with love story of king and female shaman. But it’s structure is quite similar to myth of success of the neoliberal competition system. It can be inferred that The Moon embracing the Sun gains literature achievement as historic fiction.