How Squid Game Ended After 3 Seasons

The third and final season of Squid Game dropped on Netflix June 27. Find out how Gi-hun (Lee Jung-jae) and other players in the deadly competition fared. 

By Gabrielle Chung Jun 27, 2025 6:49 PM
| Updated Jun 27, 2025 6:50 PM
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Warning: This article contains Squid Game spoilers.  

Squid Game is over.

The third and final season of the South Korean dystopian thriller was released on Netflix June 27, with Gi-hun/Player 456 (Lee Jung-jae) sacrificing himself in the final round of Squid Game so that Jun-hee/Player 222's (Jo Yu-ri) baby, who was born earlier in the competition, would win the $45.6 billion South Korean won—approximately $33.4 million USD—prize pot.

"We are not horses," Gi-hun said before plunging to his death. "We are humans."

The baby eventually ended up in the care of detective Jun-ho (Wi Ha-joon), who unfortunately was not able to stop the Squid Game in time to arrest the gamemakers, while Gi-hun's daughter living in Los Angeles inherited his past winnings. 

But not before there was a series of tragic losses and violent deaths—sometimes by Gi-hun's own hand. After his friend Jung-bae/Player 390 (Lee Seo-hwan) was gunned down by Front Man (Lee Byung-hun) as punishment for their attempt to overthrow the gamemakers at the end of season two, Gi-hun was returned to the dorms alive and forced to continue participating in the deadly competition.

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During a vicious game of hide-and seek-inside of a maze—in which the hiders were given keys to the exit, while the seekers were handed knives to kill those on the opposing team—Gi-hun murdered Dae-ho/Player 388 (Kang Ha-neul), blaming him for Jung-bae's death after he chickened out on their coup.

And though Hyun-ju/Player 120 (Park Sung-hoon) successfully found an exit, she went back into the maze to help Geum-ja/Player 149 (Kang Ae-shim) and Jun-hee. But just as she was about to guide the women out of the labyrinth, Myung-gi/Player 333 (Im Si-wa)—the father of Jun-hee's baby—fatally stabbed her in the back in order to add more money to the prize pot.

No Ju-han/Netflix

Geum-ja's son Yong-sik/Player 007 (Yang Dong-geun) also met his demise during hide-and-seek. When he couldn’t find any hiders, he turned on Jun-hee and her baby in the game's final minutes. To prevent him from attacking the new mom, Geum-ja maimed him with her hairpin before he was fatally shot by guards.

Sadly, neither she or Jun-hee made it to the final round of the competition. Riddled with guilt over her son's death, Geum-ja hung died by suicide in middle of the night. Meanwhile, Jun-hee—having injured her ankle during hide-and-seek—leaped off the platform rather than be forced to jump rope in the penultimate round.

As for rebel Squid Game guard No-eul (Park Gyu-young)? She was able to sneak Gyeong-seok/Player 246 (Lee Jin-wook) out of the game and destroy files containing players' information. In addition, the North Korea native learned that her long-lost daughter was actually alive, embarking on a trip to China to track her down.

While season three marked the end of the road for Gi-hun and his friends, showrunner Hwang Dong-hyuk teased there were still plenty of stories to explore set in the Squid Game universe. After all, in a surprise Cate Blanchett cameo during the final minutes of season three, viewers learned that the dangerous games were also being held in L.A.

Noh Ju-han/Netflix

“I actually had this faint ideation about possibly a spinoff—not a sequel, but maybe a spinoff about the three-year gap between season 1 and season 2 when Gi-hun looks around for the recruiters," he told Entertainment Weekly in an interview published June 25, explaining that it'll likely be centered around what the gamemakers "were doing in that period, not inside the gaming arena, but their life outside of that."

After all, as Hwang put it, season three is "indeed a finale" and there will be no season four.

"But I'm not trying to say that I'm going to close the door to spinoffs," he added, "because they say never say never."

No Ju-han/Netflix

Besides, filming seasons two and three altogether was physically, mentally and emotionally draining for Hwang, who also wrote and directed all the episodes.

"It was as if we were making one season, and we tried as best as we could to bring in season three as fast as possible," he explained to EW in early June. "So the total amount was much larger, and we had to shoot for around one year, so it was very physically demanding."

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