Squid Game Season 3 Ending Explained: Who Is The Ultimate Winner?

This article contains discussions of suicide.

Without further ado, let’s delve into all details regarding the finale of Squid Game. Be warned: if you haven’t completed the series yet, please hold off on reading and return later to avoid major spoilers!

Squid Game,” the globally acclaimed South Korean series created by Hwang Dong-hyuk, wrapped up (for now) its initial run at the tail end of 2021. The gripping tale unfolded over three captivating seasons, revolving around a mysterious and colossal game set on an isolated island in South Korea.

Our protagonist, Seong Gi-hun (played by Lee Jung-jae), is a man struggling financially, pushed into participating as the 456th player in this macabre event. The grand prize of 4.56 billion won enticed many contestants to risk their lives playing sinister adaptations of childhood games like “red light, green light.”

However, when Gi-hun and his fellow competitors become aware that hundreds could perish during the game, they grasp the grim seriousness at play.

How does it all end? Who emerges victorious, is it Gi-hun, or another character? Let’s delve into the details of the final episode of the popular series “Squid Game.

What you need to remember about the plot of Squid Game

To begin with, let’s quickly summarize the events leading up to the series finale of “Squid Game.” Despite long odds, Gi-hun manages to win his initial games, but unfortunately loses friends such as his childhood companion Cho Sang-woo (Park Hae-soo) in the process. It’s worth noting that after his victory, he visits Cho Sang-woo’s mother (played by Park Hye-jin) and introduces her to a young man named Kang Cheol (Park Si-wan), who needs a place to stay; we’ll revisit this detail later. Despite being instructed to board a plane to America to reunite with his daughter, Gi-hun chooses instead to collaborate with a detective, Hwang Jun-ho (Wi Ha-joon), to secretly infiltrate the games and dismantle them from within.

In Season 2, Gi-hun willingly reenters the game, but his strategy crumbles as soon as he awakens in the arena and realizes that the tracking device hidden within a tooth has been removed. Compelled to play the games once more without support, Gi-hun accepts his fate with a sense of resignation, surviving yet again. However, at the conclusion of Season 2, Gi-hun attempts to lead the players in an uprising against the guards. Tragically for Gi-hun, his new confidant and fellow player 001, played by Lee Byung-hun, turns out to be the game’s puppeteer, known as the Front Man, whose true identity is Hwang In-ho. As one might expect, he ultimately betrays Gi-hun, resulting in several players being killed during the mutiny (It should be noted that this twist involving the Front Man was previously used in Season 1).

What happened at the end of Squid Game?

In the opening of Season 3 of “Squid Game,” Gi-hun is enraged that their rebellion fell through, a sentiment largely directed towards his fellow player Kang Dae-ho (Kang Ha-neul), who had vowed to retrieve ammunition for their stolen guns but instead deserted the mission. In the second episode of the final season, the players participate in a chilling adaptation of hide and seek where the hunters are equipped with knives and instructed to kill the hiders; this situation provides Gi-hun with a chance to avenge Dae-ho’s betrayal by taking his life. Notable characters from Season 2, such as Cho Hyun-ju (Park Sung-hoon) and Park Yong-sik (Yang Dong-geun), who wore numbers 120 and 007 respectively, meet their demise during this game, while Kim Jun-hee (Jo Yu-ri), Player 222, gives birth to her baby amidst the chaos.

Unfortunately, Jun-hee sustains a severe ankle injury during hide and seek, disqualifying her from participating in the next game which is a risky jump rope variation that often leads to fatalities. The others including Gi-hun, the baby, and Lee Myung-gi (Im Si-wan), Player 333, manage to cross the chasm unscathed. However, Jun-hee, knowing she can’t participate anymore, makes a heartbreaking decision and jumps. Her number, 222, is passed on to the newborn baby girl who joins the games as a contestant. The final game, another rendition of the “Squid Game”, takes place on precarious pedestals where players have to choose who among them must perish. The contestants are narrowed down to Myung-gi, Gi-hun, and the baby. In an appalling turn of events, Lee Myung-gi attempts to kill his own child, causing Gi-hun to lose balance (though not physically). After a struggle, Myung-gi falls to his death. Gi-hun addresses the Front Man and the VIPs, reminding them that these are human beings, not mere game pieces, before he too takes his life, jumping off the pedestal just as Jun-hee did earlier. The newborn baby girl, Player 222, is left as the sole victor of this deadly competition.

The ending of Squid Game includes a 6 month time jump

A topic we haven’t delved into yet is the story of Kang No-eul, portrayed by Park Gyu-young, a North Korean refugee who lost her husband and daughter. In Season 2, she took on the role as a guard. Throughout Season 3, she safeguards Player 246, Park Gyeong-seok, played by Lee Jin-wook, despite knowing that he has a seriously ill daughter who requires his attention at home. In a bid to help him leave the island, No-eul feigns killing him. However, later in the season, she discovers her own file within the compound, revealing to viewers that even the guards are under surveillance and controlled, much like the players themselves – mere components of a larger mechanism.

6 months after Gi-hun’s demise, the final episode of “Squid Game” leaps forward to find No-eul, Gyeong-seok, and his daughter Na-yeon (Park Ye-bom) back at the amusement park once more. Na-yeon is thriving, while No-eul is receiving a caricature from Gyeong-seok, who fails to recognize her since she never revealed her identity during their life-saving encounter. Wishing them well, No-eul learns that her daughter might still be alive in China and prepares to travel to the airport for her flight, leaving us with a hopeful ending. The article will delve deeper into these significant plot points, but we’ll follow No-eul’s search for her child while Jun-ho discovers player 222 and his winnings in his house – safely delivered by his half-brother In-ho – and Gi-hun’s daughter inherits her father’s uniform and winnings from In-ho as well. As the series concludes, we catch a glimpse of the Front Man in a car in Los Angeles, observing his new recruiter, played by the renowned Cate Blanchett, hinting that the games will carry on elsewhere.

The creator of Squid Game explains why Gi-hun had to die

During a private conversation with Netflix’s Tudum following the release of the entire third and final season of “Squid Game,” creator Hwang Dong-hyuk shared insights about the motivations behind the finale’s plot points. A significant query that needed addressing was whether Gi-hun had to perish, and it turns out, he did.

In Hwang’s own words, the act of self-sacrifice by Gi-hun that ensures a newborn baby’s life will be free from financial worries for years to come, essentially encapsulates the core theme of the series. He explained, “The essence I aimed to convey was that if we persist in pursuing our individual interests without restraint, sacrifice, or consideration for others, and fail to work together, there is no future for us.” Hwang further stated that Gi-hun’s willingness to sacrifice himself to save the baby serves as a timely message for today. “This character, who gets thrown into the game, suffers through it all, and then goes back in to end it, is the one who should deliver this message,” Hwang added.

In a clever turn of phrase, Hwang skillfully carried out his actions; Gi-hun sacrifices himself to secure another’s future, and it’s noteworthy that he elects to protect the one individual in the entire game who is entirely innocent. On the topic of the baby, she serves as a representation of a broader message, according to Hwang.

The baby who wins the game is a symbol of hope, according to the creator of Squid Game

In the grim world of Squid Game, it’s the baby, who doesn’t understand the chaos, that ends up victorious, offering a glimmer of hope amidst the bleakness. As for the character of the Front Man, actor Lee Byung-hun believes that his selfless act of saving the baby and giving it to his brother, a good and honest man who is also a law officer, indicates that he still possesses some humanity. According to Byung-hun, this action underscores the fact that the Front Man has a last remnant of kindness within him. This was the interpretation shared between the actor and director Hwang Duk-ho, and it guided Byung-hun’s portrayal of his character, as he explained in an interview with Tudum. In essence, the Front Man retains a shred of benevolence within himself.

For filmmaker Hwang Dong-hyuk, the baby symbolizes a promising new beginning, possibly implying the end of the games (at least in South Korea, given that the location where they were held has been destroyed; although this is worth noting as well). “In essence,” Hwong shared, “the baby embodies the future. I feel we owe it to ourselves and to them to strive for everything within our power to create a better world for the next generation. The baby’s victory aligns with the theme of ‘Squid Game’.

The ending of Squid Game involves reunions, which speaks to humanity’s need for connection

During her time on “Squid Game”, the character No-eul is a strong and motivational figure, but it’s difficult to envision her finding true happiness for some time. In fact, she contemplates suicide after demolishing the file room within the compound. As director Hwang Dong-hyuk explained to Tudum, witnessing Gi-hun sacrifice his life for a baby altered her viewpoint and encouraged her to persevere. Hwang stated, “A glimmer of hope and longing for life resurfaces inside No-eul.” Essentially, he wanted to portray her revival, reclaiming her desire to live, and attempting life once more.

In the narrative, Sae-byeok from Season 1, played by Jung Ho-yeon, shares a connection with No-eul’s story. Sae-byeok’s younger brother, Kang Cheol, is the man traveling with Sang-woo’s mother, whom we previously mentioned. Sae-byeok, who like No-eul, was a North Korean defector, participated in this perilous game primarily to gather funds and reunite her family – an event that transpires at the airport as No-eul prepares to board her flight. Initially too frightened to engage with her long-lost mother, Sang-woo’s mother, who has been acting as a maternal figure for some time, encourages them both, helping bring Sae-byeok’s heartfelt dream to fruition.

In his words, Sae-byeok attempted to transfer funds to the northern region, harboring dreams of one day being able to bring her mother home. This way, the trio could be reunited and enjoy a blissful life together. He described this hope as a faint yet promising light, similar to the first rays of dawn.

What happens to Gi-hun’s winnings at the end of Squid Game?

It seems quite clear that, although he adores his daughter Ga-yeong (Jo Ah-in), Gi-hun was unlikely to win any Father of the Year accolades. This is because when In-ho, the Front Man, arrives to give Ga-yeong Gi-hun’s player uniform and his winnings, she is enraged at her father, accusing him of abandoning her and expressing a firm wish never to see him again. Tragically, this wish comes true as In-ho informs Ga-yeong that her father has passed away. At the very least, Ga-yeong now understands that her father didn’t willingly desert her, which may provide some closure for her.

In a Tudum article, Lee Jung-Jae, who plays Gi-hun, shared his humorous reaction to an unexpected scene. When he saw the part where the Front Man visited Ga-yeong, he quipped, “I thought ‘Gi-hun’s going to be so furious he’ll rise from the dead and burst out of the coffin!'” It seems he might have been accurate in his prediction! You see, once Gi-hun discovered that his game companion was actually the Front Man, he attempted to kill him, but was informed that another Front Man would just take his place.

The very last moments of the Squid Game series finale brings the story to a new country — and maybe introduces its next star

It’s clear we need to discuss the two-time Academy Award-winning actor, widely recognized as one of our finest living performers, who makes an appearance towards the end of “Squid Game.” Following his scenes with other characters, we witness Front Man being chauffeured through Los Angeles. Intriguingly, Cate Blanchett is seen playing a traditional game similar to the one used in South Korea to entice players into the games – ddakji. This game involves throwing and hitting pieces of red and blue paper, with the recruiter’s role being to keep the subject engaged as they make progressively higher bets and eventually coerce them into the game when they can no longer pay their debts. Just like her South Korean counterpart, Blanchett forcefully slaps the homeless man she’s targeting between each turn, suggesting a potential future role for her as a recruiter. Furthermore, with David Fincher, a highly esteemed Hollywood director who previously collaborated with Blanchett on “The Curious Case of Benjamin Button,” reportedly developing a U.S.-based spin-off of “Squid Game,” it appears that Cate Blanchett could be poised to become the face of this emerging franchise.

In an interview with Tudum, director Hwang Dong-hyuk explained the reasoning behind casting Cate Blanchett in a surprising role. He felt that having a female character as the recruiter would add drama and intrigue to the story. Moreover, he admired Blanchett’s exceptional charisma and widespread popularity. The team was delighted to have her join the cast because she commanded attention with minimal dialogue, which was essential for the character. Additionally, Hwang believed that if Gong Yoo played the Korean recruiter, then Cate Blanchett would be ideal as the American recruiter, delivering a powerful and impactful conclusion to the storyline.

Lee Byung-hun expressed that the final scene was a fitting conclusion for the show, remarking, “It symbolizes the reality that, despite the valiant efforts of many, the world remains unchanged.” In essence, he suggested that the tragic truth is these games will likely persist as long as they are able to. As for the Front Man’s future, it remains uncertain.

Will Lee Byung-hun’s Front Man ever return for another Squid Game show?

Given the massive global success of “Squid Game” following its debut season, there’s a strong possibility we might see more than one spin-off series. Among these potential offshoots, there’s speculation about one that could be directed by David Fincher. Now, the question arises: will this upcoming spin-off focus on the Front Man character… and more precisely, the enigmatic Front Man portrayed by Lee Byung-hun?

In Season 3, we uncover a shocking aspect of the Front Man’s past – he had been given the choice to assassinate his competitors before their final game and chose to do so. This revelation was previously unknown, adding another layer to In-ho’s character. Although we knew that In-ho became the Front Man after winning his own game, Season 3 provided this chilling detail. It’s also significant that In-ho and Cate Blanchett’s recruiter share meaningful glances during her torment of a victim, hinting at a possible connection between them. The storyline of In-ho in the Squid Game has concluded for now, but much remains to be discovered about his past, present, and future. Whether he is passing on his role or assisting with the launch of new games in Los Angeles remains to be seen.

“Squid Game” is streaming on Netflix now.

2025-06-28 00:31