This manuscript investigates the origins of Cheoyongmu through comparison with Tibetan Cham, and also analyzes the structure of the dance. In addition, the manuscript seeks to serve as a resource for development of Korean culture and heritage contents by reframing the fable of Cheoyong from different perspectives. In its structural analysis, Ohbang cheoyongmu is broken down into three separate parts comprising total of 10 acts, in which the first part is reinterpreted as "the Origin of the Sky, the Earth, and the Man," second part as "the Excitement of the Sky, the Earth, and the Man," and the third part as "the Evolution of the Sky, the Earth, and the Man." This interpretation fundamentally reevaluates the emotions of the Space and the Man while redefining the meaning of "the Sky, the Earth, and the Man" to be understood as the principles of Space. The manuscript assumes the evil spirit from the fable of Cheoyong to be the wife's lover, and resets the love triangle in the Cheoyong epic as 'Salpuri (the Wife) - Hakchoom (the evil spirit) - Cheoyongmu (Cheoyong). This triangle transcends the evil spirit's love for the Wife through Hakchoom while illustrating the 'Cheoyong, the Wife, and the evil spirit' as 'the Sky, the Earth, and the Man,' respectively. Additionally, Cheoyong is also characterized as a Tibetan monk. The newly suggested illustration of the Cheoyong fable in this manuscript will serve to be a benchmark resource for development of blended royal Korean ceremonies and folk dance culture contents as well as spark the new era of dance culture.