SQUID GAME Season 3 Ending Explained: A Shocking Cameo And How It Sets Up A Potential Season 4 - SPOILERS

SQUID GAME Season 3 Ending Explained: A Shocking Cameo And How It Sets Up A Potential Season 4 - SPOILERS

The third and supposedly final season of Squid Game has arrived on Netflix, and we're taking a deep dive into the show's conclusion, whether there's a post-credits scene, and what it means for the future.

By JoshWilding - Jun 27, 2025 10:06 AM EST
Filed Under: Sci-Fi
Source: SFFGazette.com

This article was originally published on SFFGazette.com.

The third and final season of Squid Game has arrived on Netflix, and it makes for bleak viewing. We weren't necessarily expecting a happy ending, but the South Korean hit wraps up on a thought-provoking, violent note that sets the stage for the future in a big way.

In this article, we're delving into how the final season plays out and the way it culminates with a must-see finale we guarantee will leave you reeling. The stage is also set for the franchise's future, courtesy of a jaw-dropping cameo. Needless to say, we're getting into spoilers here!

Squid Game season 3 holds nothing back, and in the wake of his failed rebellion, Gi-hun is once again forced to compete. "Hide and Seek" features the deaths of Dae-ho (#388), Hyun-ju (#120), the Shaman (#044), and Yong-sik (#007), while Jun-hee (#222) gives birth. Young-sik's mother, Geum-ja (#149), dies by suicide after she was forced to kill her son during the game. 

From there, we have Jump Rope and say goodbye to Nam-gyu (#124). Gi-hun and Myung-gi (#333) live, but after Jun-hee's death, the Front Man decides that her baby will take her place as Player #222. 

The games continue, and Gi-hun is once again brought before the Front Man. He finally reveals his identity and offers his "friend" a knife which can be used to kill the remaining players, saving himself and the baby. It's revealed that the Front Man was once given the same choice as a player and obliged. 

Gi-hun keeps the knife, but can't bring himself to murder the others. "Squid Game in the Sky" is the third game, and Myung-gi, the baby's father, teams up with Gi-hun. When all is said and done, only he, Gi-hun, and the baby are left standing (the rest are pushed or jump from the ledges).

Myung-gi plans to kill his own child to win the games, and a fight ensues with Gi-hun, which ends with him falling to his death. However, neither of them pushed the button to start the round, meaning only Gi-hun or the baby can survive, or both will die. Setting the child down, he repeats his line from season 1 that players aren't horses and says, "Humans are..." before letting himself fall to his death. 

The baby, Player #222, is named the winner. While this is happening, Jun-ho has found the island thanks to an assist from the escaped Player #246, and is left to watch helplessly as his brother leaves with the baby and ignores his cries. The Front Man initiates a self-destruct sequence, destroying the island and making it so that Gi-hun is the last to die there. The games are done. 

Or not. There are some hints of a happy ending; six months later, we learn that Guard 011 is alive and well in China, Player #246's daughter has recovered, and Sae-byeok's mother reunites with her son at the airport. Gi-hun's money, however, has disappeared. 

The Front Man leaves the baby with Jun-ho and is revealed to have taken Gi-hun's money to his daughter (which is presented to her, along with his bloody #456 jacket). In Los Angeles, the Front Man looks out of his car window and sees a recruiter playing ddakji with a man on the street. The recruiter is Cate Blanchett, and after they share a look, it's clear the games are far from over and are likely taking place across the globe. 

There's no post-credits scene, but with this ending, the stage has been set for David Fincher's planned American Squid Game series. Remember, creator Hwang Dong-hyuk has confirmed that, outside of potential spin-offs, this is the end for the main Squid Game series.

Squid Game season 3 is now streaming on Netflix. 

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Feralwookiee
Feralwookiee - 6/27/2025, 10:11 AM
What the [frick] did I just read?
What is this shit and what does it have to do with comic book movies? 😵‍💫
bkmeijer1
bkmeijer1 - 6/27/2025, 10:30 AM
@Feralwookiee - the site has long covered non-cbm stuff.

But yeah, what the actual fuсk. I couldn't get into it, and after reading this I'm glad I gave up on it.
Feralwookiee
Feralwookiee - 6/27/2025, 10:41 AM
@bkmeijer1 - I don't really watch tv at all and I have no idea what this show is supposed to be about.
After reading this article, I still have no idea what the premise is. 🤣
bkmeijer1
bkmeijer1 - 6/27/2025, 11:04 AM
@Feralwookiee - I thought it was about a game show, but I'm not sure either anymore
TheFinestSmack
TheFinestSmack - 6/27/2025, 11:29 AM
@bkmeijer1 @Feralwookiee - I thought it was a reality fishing show, kinda like Deadliest Catch, but they focus on squid?
Feralwookiee
Feralwookiee - 6/27/2025, 11:31 AM
@TheFinestSmack - Lol idk
Apophis71
Apophis71 - 6/27/2025, 11:48 AM
@Feralwookiee - The show is along the lines of Running Man, Battle Royale and Hunger games...

...but more reality game show but basic upshot being last man standing wins, everyone else in the 'game' dies with the how/why contestants are chosen differing I think.

I mean this sort of thing is not uncommon in Japan and S.K. but increasingly making it over to the west and this one rapidly gained global popularity not just the more typical Asian markets.

It never interested me enough to check out, seen a lot of Asian content of this sort and it seemed to be more of the same but made more for western audience so could kinda predict too much and kinda done with those sort of things (especialy IF trying too hard to appeal in America etc which normaly means it looses something in the process).

That said have watched some of season two cos of my eldest watching when her and her fiance were between homes living in my lounge and it is actualy very well acted and morbidly compelling.
Malatrova15
Malatrova15 - 6/27/2025, 11:59 AM
@Feralwookiee - i only read Ching Chong chan something
thebamf
thebamf - 6/27/2025, 12:06 PM
@Malatrova15 - Wow. that's racist as hell.
Malatrova15
Malatrova15 - 6/27/2025, 12:18 PM
@thebamf - Is not , stop It now
Arthorious
Arthorious - 6/27/2025, 10:17 AM
I thought this was supposed to be the final season?
Apophis71
Apophis71 - 6/27/2025, 11:49 AM
@Arthorious - It is, but with a potential US based spinoff coming.
bobevanz
bobevanz - 6/27/2025, 10:49 AM
This show will never end, or it'll at least be the longest running Netflix show in a few years
AllsGood
AllsGood - 6/27/2025, 11:21 AM
Marvel Studios Ironheart has beaten Netflix Squid Game season 3

Friday June 27, 2025, Ironheart ranked as the #1 Most Popular show online and was the #1 most popular TV show on Disney+. The current engagement score for Ironheart is 88.05.

The Television Stats algorithm evaluates online audience activity and engagement across various platforms, including search, website traffic, and social media. These values are calculated each morning, taking into account the entire activity from the previous day.

Top Shows Online June 26, 2025

Ranked by Television Stats online engagement score.

1) Marvel Studios Ironheart

2) Netflix Squid Game season 3

CHECK FOR YOURSELF

https://televisionstats.com/s/ironheart

User Comment Image
TheFinestSmack
TheFinestSmack - 6/27/2025, 11:32 AM
@AllsGood - User Comment Image
AllsGood
AllsGood - 6/27/2025, 11:35 AM
@TheFinestSmack -
User Comment Image
Malatrova15
Malatrova15 - 6/27/2025, 12:00 PM
@AllsGood - not even you aré watching IronHeart man

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