The EP consists of three physical versions: Winter, Flower and Fire,[3] and contains six tracks, including the lead single "Hwaa".

Cube Entertainment confirmed the news, stating, "(G)I-dle is preparing for a comeback with goals for release in mid-January.

"[6] On December 27, Cube released a visual film announcing their comeback through the official YouTube channel of the group.

[11] On January 11, the group held an online media showcase for the release of I Burn hosted by broadcaster Oh Jung-yeon, who appeared in I'm a Survivor with Yuqi.

"[12] "I Burn as a 'novel' that begins with the image of a woman in the cold, her heart frozen in the bitter winter of a break-up.

The fire of acceptance enables the growth of new love in the form of a flower and the arrival of spring.Members Minnie, Soyeon and Yuqi participated in the composing and writing of I Burn.

It begins with "Hann (Alone in Winter)" — a song about separation — and ends with "Dahlia" — an uplifting track named after a flower.

[23] Oh Jung-yeon praised (G)I-dle for their songwriting and stated, "Listening to the explanation of the philosophy and emotions of the six members melted into each song, I suddenly wanted to call them 'teachers'.

"[24] Heran Mamo from Billboard, regarded the album as, "together musical arrangements and Eastern instrumentation to collect the pieces of a broken heart, as I burn describes the aftermath of a painful breakup through the motif of a blazing fire and the sequential triumph like a blooming flower.

"[25] Michele Mendez of Elite Daily affirmed that I Burn is "the breakup album everyone needs to hear because it's a reminder something beautiful can emerge from darkness.

"[19] Writing for The Quietus online publication, Verónica A. Bastardo remarked: "A theatrical extended player, flooded with grandiloquent orchestral instrumentals mixed with pop structures and EDM drops, that explores in a metaphorical way the path of regaining happiness and strength after the separation from a loved one.

and concluded "by wholly committing to this concept of defeat and resurrection, they have created a project that is not only relatable and inspiring to listeners, but also an exercise in transparency from the group itself.

[42] In Flower version (花), the group showed in dresses with colourful patterns that contrast with the cold blue background.

[45][46] Notes I Burn was included in the mid-year list of South China Morning Post's Best K-pop albums of 2021, calling it "short and sweet" and an "intense, impassioned show of the band’s dynamic vocals, offering up the ultimate take on getting over a fiery love affair and its resulting break-up.