‘Squid Game’ Series Finale: Who Survived and How the Final Scene Could Open Up Netflix Franchise

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[This story contains MAJOR spoilers from the Squid Game season three finale, “Humans are…”]

The Squid Games are over — or are they?

The much-anticipated finale of the last season (season 3) of the globally acclaimed Netflix show “Squid Game” has finally hit screens worldwide, and the conclusion penned by its creator, Hwang Dong-hyuk, managed to achieve two significant feats.

In this final season of Hwang’s anti-capitalist thriller, he fulfilled his promise to wrap up the tale of protagonist Seong Gi-hun, played by Lee Jung-jae. Previously seen as Player 456, he met a sorrowful end, marking the conclusion of his second round in the dangerous Games. This is why Hwang had consistently maintained that the streamer’s most-viewed series would only span three seasons.

In the climactic and lethal “Sky Squid Game,” Gi-hun advanced to the final round alongside three other competitors: Lee Myung-gi (also known as Player 333), and an unexpected fourth participant – a baby born during the games, who turned out to be the child of Player 333 and Jun-hee (Jo Yu-ri). In a shocking turn of events for the series, this infant was declared the winner of the game.

Following a life-or-death struggle against Player 333, Gi-hun managed to stay alive, but unfortunately didn’t push the button to initiate the game round. Given the game’s cruel regulations requiring one fatality per round, Gi-hun tragically chose to die dramatically so that the baby, who had assumed Jun-hee’s Player 222 role, could live on.

In the end, only the baby remained alive among all the characters that were introduced in seasons two and three. This season saw tragic deaths of beloved characters such as Hyun-ju (Park Sung-hoon), better known as Player 120, who perished while attempting to shield Jun-hee and her infant from harm at the hands of Player 333; and Geum-ja (Kang Ae-sim), Player 149, along with her son Yong-sik (Yang Dong-geun), also known as Player 007. The latter was killed by his mother during a Hide and Seek game to ensure the safety of Jun-hee and her baby.

Beyond just the characters, the series concluded with several remaining figures, among them being the game’s mysterious supervisor, The Front Man (Lee Byung-hun). As the series came to a close, this character pursued Gi-hun’s estranged daughter, Ga-yeong (Jo Ah-in), in Los Angeles.

In the second season of the Games, Gi-hun made a decision to return despite leaving his daughter behind, driven by survivor’s guilt and ambition to dismantle the Games from within. A six-month time leap concluded the series, revealing Gi-hun’s daughter in possession of the winnings from the first game – a staggering 45.6 billion won, equivalent to approximately $31.5 million – stored on a debit card. Whether The Front Man’s encounter with Gi-hun’s daughter was genuinely selfless is left for viewers to decide.

As a devoted fan, I was relieved to see that Detective Hwang Jun-ho (Wi Ha-jun) and his right-hand man, Choi Woo-seok (Jun Suk-ho), both made it through the series unscathed. In an unexpected turn of events, The Front Man generously increased his brother’s fortune when I found myself back home to discover Jun-hee’s thriving and hale child, in addition to the 45.6 billion won that came with Player 222’s triumphant win.

But the final-final moment that viewers saw with The Front Man was the biggest surprise of all.

Following the revelation of the Games’ location by the Front Man’s sibling, the VIPs and Pink Guards hastily evacuated the island before a short, fateful confrontation between the brothers. Once the Games had been breached, The Front Man wiped out all traces by detonating the island; both brothers managed to flee unharmed, along with the infant.

Or:

Once the Front Man’s brother found where the Games were being held, the VIPs and Pink Guards hurriedly left the island before a quick meeting between the siblings. With the Games exposed, The Front Man obliterated any remaining proof by exploding the island; both brothers got away safely, along with the baby.

So the Squid Games are now effectively over, right? Not so fast.

Following the drop-off at Gi-hun’s daughter’s place, The Front Man navigates Downtown L.A., and unexpectedly hears the distinct sound of the ddakji game echoing. This is the same game that was played by the Korean Recruiter, portrayed by Gong Yoo (who met his end in season two). As he glances through an alleyway, The Front Man notices a fresh Games recruiter – this time played by the illustrious Cate Blanchett, who won her second Oscar, making a significant surprise appearance in the show. This revelation was kept under wraps until the series premiere.

In the bustling city of Los Angeles, the character portrayed by Blanchett donned the Recruiter’s recognizable business attire and carried a menacing leather case, delivering a brutal slap to an anxious American individual who was likely being coerced into participating in the lethal Games.

It seems she might be enlisting American participants – could it be preparations for an American adaptation of the series’ titular deadly game?

It’s unclear if or how the popular Netflix series “Squid Game” will continue, as the creators have hinted at a potential spinoff and expressed interest in exploring the significant time gap between seasons one and two. This leaves open the question about the future of the show, particularly Cate Blanchett’s role in it, since it is currently Netflix’s most globally successful series ever produced.

With this ending, Hwang has again accomplished two things.

Initially, Jun-hee abandoned any semblance of despair. Intriguingly, his baby not only survived but also triumphed, which was quite remarkable. Additionally, there was a nod to the initial series – the family of Gi-hun’s first round companion from the Games, the late Sae-byeok (Hoyeon), were reunited. Moreover, the season’s main character, No-eul (Park Gyu-young), who plays the Pink Guard, was left hanging with a call suggesting that her child, whom she believed to be deceased, might still be alive.

However, it’s disheartening to witness the Games persisting with Blanchett’s character as the Recruiter. Until Netflix decides on their next move, the thought-provoking finale of “Squid Game” leaves us contemplating Gi-hun’s incomplete statement: “Humans are…

Stream the last season of Squid Game on Netflix now! Take a look at The Hollywood Reporter’s analysis of the finale guest appearance, as well as all our comprehensive coverage for the final season.

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2025-06-27 20:24