NOBODY WAS READY FOR THAT FINAL STAB — The ‘Squid Game’ Season 3 Ending Just Flipped EVERYTHING We Thought We Knew! You thought you figured it out. You thought the twists were done. Wrong. The finale hit like a psychological grenade — flipping loyalties, rewriting deaths, and leaving fans asking: Did we ever understand the game at all? This wasn’t an ending. This was a trap.

Cue the ominous, pulsating rhythm of Korea’s best dystopian survival series, because on June 27, Gi-hun’s agonizing story went into the third round. Yes, creator Hwang Dong-hyuk’s masterpiece Squid Game is finally back, and it probably consists of the most traumatizing, most cruel, most insane, and most heartbreaking moments in the history of Netflix series. Ever since 2021, fans around the world have followed Gi-hun’s crazy journey, and now the most-watched series globally on Netflix has returned with its third and final season.

It is needless to say that Season 3 of Squid Game went out with a (literal) bang, so let’s take a look at what happened in the final episode.

Was the Front Man’s Identity Revealed?

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One of the most burning questions since the final episode of Squid Game Season 2 was whether the Front Man’s (Lee Byung-hun) identity would be revealed. Season 3 didn’t disappoint, because it finally showed the boss taking off his mask, and Player 456 was not amused. In Episode 4, the Front Man called Gi-hun in to meet him while the others were fast asleep after the final dinner. He offered Gi-hun a knife and gave him the choice to kill everyone in their sleep. By doing so, he would have won by avoiding the final game and could have saved Jun-hee’s baby, who was born during the games and then replaced her mother as Player 222 after her death.

Still from Squid Game Season 2.

As fans eagerly await Season 3, there’s so much to discover by rewatching Seasons 1 and 2 of ‘Squid Game.’

A flashback showed that In-ho was offered the same way out by the old Front Man in Squid Game, Il-nam, during his time as a player, and he ended up following through and killing the remaining players. Just like Il-nam did to In-ho, In-ho now explained to Gi-hun that the other players were solely trash, once again revealing his ruthlessness.

Gi-hun, however, isn’t like In-ho. He grappled with the choice in front of him of saving an innocent baby versus falling into the same darkness as the Front Man. All this time, he had faith in people, but the games made him question it, lose it even. Killing the rest of the player in their sleep would go against everything he believed in. In the end, he couldn’t do it.

What Happened to Gi-hun?

Gi-hun playing in the games in Squid Game.
Netflix

After he decided to let the other players live, Gi-hun and the baby became the target in the final game. Considering that Gi-hun could have saved everyone in Season 2 already, this arguably could have been prevented. Out of the nine remaining players, at least three had to be eliminated, and the choice of whom to push over the edge was theirs. After Min-su, who was suffering from severe drug withdrawal, became the first victim, Player 456 and Player 222 were next.

In an insane turn of events, Player 333, Myung-gi, confirmed that he was the baby’s father and took Gi-hun’s side. Together, they eliminated the others, but it turned out that Myung-gi wanted to eliminate the baby as well. To him, it was all about money. Gi-hun managed to fight him off, and he and the baby were the only two survivors. Unfortunately, the final stage of the game hadn’t started yet, which meant that one person still had to be eliminated. Gi-hun decided to sacrifice himself to let the baby live, and his final words were:

“We are not horses. We are humans. And humans are…”

It’s open to individual interpretation of what Gi-hun thinks humans are, because he never finished his sentence, but it makes his words all the more special. It’s a mind game after all. It seems like the Front Man felt for Gi-hun after he died. Perhaps, a part of In-ho admired Gi-hun’s honorable actions and tireless dedication to doing what’s right. The games broke Gi-hun after his best friend, Jung-bae, was executed right in front of him, but his deeply-rooted desire to do right by this little newborn girl after he couldn’t do right by his daughter gave him his strength back. At least some of it.

Eerily enough, Gi-hun’s selfless act seemed to have inspired In-ho at least a little bit, because after Gi-hun’s death, Jun-hee’s baby is declared the winner of the games, and In-ho collects her to bring her to safety. An honorable deed, if one disregards all the other cruelties.

Later, In-ho even traveled to Los Angeles, where he visited Gi-hun’s daughter. Understandably, she didn’t want to hear anything about her father, who she thought had abandoned her. However, when In-ho shared the devastating news that he had passed away, it took her aback. Upon opening the box In-ho brought, she found Gi-hun’s Player 456 jacket and the golden credit card. Of course, she had no idea yet how much money was on there, but she found out at a later stage, and perhaps her opinion about her father improved.

What Happened to the Baby?

Baby in Squid Game
Netflix

Six months after the little girl left the island as the sole winner in the record-breaking Netflix series, Jun-ho returned to his apartment and suddenly found the baby there. She was wrapped in the 222 jacket and had a golden credit card under Jun-ho’s name lying on top of her. In some twisted way, In-ho wanted to ensure that his brother lived a good life and that the baby girl was in good hands. Seeing that Jun-ho has a strong sense of responsibility, it could easily be that instead of giving the girl up for adoption, he might raise her himself.

Did Jun-ho Find His Brother?

Boat crew from Squid Game episode OX.
Netflix

For the majority of Season 3, Jun-ho was on the rollercoaster of trying to find the island where the games were taking place to shut them down. His plan, admirable as it was, didn’t work out the way he had planned. After finding out that Captain Park was working with the Front Man, the Captain gunned down the crew members, and only Jun-ho and one team member survived. The two still managed to find the island, but when Jun-ho arrived there, Gi-hun was already dead, Player 222 was left as the winner, and a bomb to blow up the entire place was already ticking down.

Lee Jung-jae in 'Squid Game' season 2

Jun-ho still managed to find his brother, though. Just as the Front Man picked up the baby to get to safety, Jun-ho pointed his gun at his brother, asking him why he did it. The question could mean numerous things. Why did he shoot his brother back then? Why did he make sure he survived? Why is he part of these games? In-ho didn’t answer and just walked off, because, after all, Jun-hoo wasn’t a murderer like his brother. Starting a petition to send In-ho to fight for survival in the virus-raging horror movie 28 Years Later, ASAP.

What Happened to No-eul?

No-eul in Squid Game
Netflix

Even though the North Korean defector and widow started as a soldier in the games, the presence of one of the players gave No-eul a new goal. She remembered Player 246, Gyeong-seok, from her old job, where she found out about the single father’s young daughter who was diagnosed with blood cancer. As a mother whose daughter was missing, she simply couldn’t let this man die. She watched over him and followed his every move. When some of the players joined forces to escape the game of death, he was one of the survivors who was supposed to be executed. However, No-eul only injured him to have him transported to a secret room where a doctor removes organs for profit. Once there, she killed everyone in the room, had the doctor save Player 246, put him in a guard’s uniform, and eventually helped him escape the island.

Six months later, No-eul returned to her old workplace, where she visited Gyeong-seok to paint her portrait. He felt she looked familiar, but he didn’t know that she was the soldier who saved him. She even met his daughter, Na-yeon, who was thriving. Even her life turned upside down when a broker called her and informed her that her missing daughter was likely in China. No-eul was ready to possibly reunite with her long-lost daughter. Maybe a Squid Game spinoff could see that come to fruition.

Will the Squid Games Continue?

Girl robot and players from Squid Game Season 2.
Netflix

In the ending scene of Squid Game Season 3, the sound of someone playing ddakji caught In-ho’s attention during his Los Angeles trip. What followed was one of the most unexpected cameos of all time. None other than the iconic Oscar-winning actress, Cate Blanchett, appeared as the Recruiter.

Remember the scary recruiter from Season 2 of Squid Game? Yeah, Cate Blanchett might be just as ruthless. At least her slaps looked just as painful. Interestingly enough, Blanchett’s character and the notorious Front Man shared a knowing look, indicating that they know each other. While the Korean version of Squid Game has now officially come to an end after three excruciating seasons, there is no doubt that Squid Game spinoffs are waiting in our future, ready to torture and kill some more. It’s almost impossible to calmly wait to see who might appear in an American Squid Game series, but Cate Blanchett in Squid Game is already a promising start.

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