I think it's a two soul living inside a one body ljke what happened on Black clover (anime). They both share each other's memories. Or maybe, Wonjae's body isn't really dead. But there's still a possibility that it's a two soul living inside a one body since Wonjae kept remembering old memories.
Comment by jez on Shining Summer - Chapter 70.5
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@jez judging from season 2's cover, wonjae's body is alive and jihoon is probably in it. either they'll switch back or stay in the other's body but its gonna be a love triangle now