Netflix Squid Game has finally come to its logical conclusion, barring, of course, the rumored spin-off.
The last episode of Season 3 was released on June 27, 2025, bringing the story of Seong Gi-hun (Player 456) to an end, in a way that was, as viewers have by now justifiably come to expect, grimly unrelenting but itself thick with implications.
As the fans remain in shock of the plot twists and the emotional strain of the last matches, one question has been dominating the minds of the fans: what will become of Squid Game?
Squid Game Season 3: The Last Chapter
Season 3 was a direct continuation of the Season 2 cliffhanger and immediately went further into darker games and unsolvable dilemmas. Gi-hun, who was in the worst part of his life, once again, had to confront some moral questions and overarching personal issues.
The games themselves turned out to be more psychological than ever because surviving players were pushed to the limits.
Nevertheless, even with its dark themes, Squid Game has earned the attention of the world with its mix of social commentary, survival horror, and images that shock.
The South Korean drama is now one of the most significant success stories that the streaming service has seen since it premiered in 2021, with Season 2 alone amassing more than 192.6 million views, becoming the third-highest-watched season of any Netflix show in history.
However, the tale of Gi-hun and the deformed death games, is, officially, concluded.
Don Season 4: It’s the End of the Line (But Not Forever)
The creator of Squid Game, Hwang Dong-hyuk, announced Season 3 as the last to occur in the show in an emotional letter to fans.
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To see the fruit of what was started in the creation of a new Squid Game continue to grow, he wrote, is thrilling to him.
We will also strive to provide you with another thrill ride. I wish you to be eager about the future.”
Hwang repeated his sense of relief and exhaustion in an interview with The New York Times.
Oh, I need some rest. He has not slept heavily in a long time, he told me. I would like to have a rest. Then I would like to go on to feature films.”
He also made reference that he already has something in mind in regards to his next movie project and that it will be a change up as far as the Squid Game universe goes currently.
A Spin-Off might be in the Offing
Though the main series might be finished, Squid Game enthusiasts have the right to be optimistic. The Season 3 finale was, in classic cliffhanger style, a promise of a new start, and perhaps in an alternate setting to South Korea.
Chillingly, in a jaw-dropping sequence towards the end of the movie, we can see In-ho (the Front Man, portrayed by Lee Byung-hun) as he is driving through Los Angeles, and he hears a distinct sound of a slapping game in an alleyway.
He sees a suited recruiter, this time Cate Blanchett, playing another game of ddakji with an American man.
The camera holds. She looks at him with an understanding eye.
It is the only scene that has fans speculating. Is Squid Game becoming international? Is there a deadly games version of the American version? Nothing is confirmed at Netflix, yet series creator Hwang Dong-hyuk has acknowledged that he has been considering the option.
What the Spin-Off would be Like
During an interview with Entertainment Weekly, Hwang revealed one of the ideas that he had been playing around with: a spin-off series that delves into the three-year gap between Seasons 1 and 2 in which Gi-hun was behind the scenes trying to uncover more information about the people behind the game.
I do, in fact, have this vague notion that there could be possibly some kind of a spin-off not sequel, but a spin-off about the three-year gap, he said.
Instead of dwelling on the men or the stadium, the spin-off would enter into the lives of the recruiters, guards and masked officials who are not involved in the game.
What did they do during the time? What was it like to be a recruiter or Captain Park? It is something like that I think might be worth telling.”
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It would be a huge turnaround, a potential revival of the franchise that would carry it into new territory and potentially rejuvenate it without stepping on the already-established path of Gi-hun.
Who might be involved in the future?
Provided a spin-off does come into existence, it is unknown whether some members of the initial cast would feature in it–though that final scene with In-ho cracks Lee Byung-hun into the short-list.
One other burning question: Will Cate Blanchett come back? Her cameo has created giant buzz online and many fans are hoping it was not a one-time affair.
What is left with Gi-hun (Lee Jung-jae) is apparently over. The spin-off will have to do something imaginative with his character to bring him back to us, or it may well be the last of Player 456.
Watch Squid Game
Squid Game is currently streaming all three seasons on Netflix. And if you are not as up to date as you should be, it is the best time to binge-watch, but be sure that you will go through an emotional rollercoaster.
And even though it seems that Season 4 is not planned, the end of the series leaves enough room to believe that Squid Game is not over yet. Hwang Dong-hyuk could have another artistic bent with his creepy reality, or the spin-off of the show.
