Wave energy converters (WECs) have been receiving great attention in a renewable energy field because the hydrokinetic energy is more persistent and spatially concentrated compared to wind and solar energy. Harnessing this energy, however, has been fraught with numerous challenges because of sea waves having time variations in frequency, amplitude, and phase with time. As a result, modelling and designing various types of devices are difficult tasks considering with the conditions of resonance and optimization for the maximum performance. We introduce a new type of the wave energy converter belonging to a point absorber type. However, unlike previous types of WECs using the buoy, the presented WEC has the buoy included in a body itself. Therefore, it can be submerged floating. By adjusting the submerged depth, the WEC may enable an optimal balance between the effectiveness and durability of the unit. In this paper, we will only introduce the floating system which converts the hydrokinetic energy of the sea waves to the usable mechanical energy.