Squid Game Says Goodbye. The Story Behind the Final Season and What It Means

28 June 2025

Lee Jung-jae as Seong Gi-hun in Squid Game. No Ju-han/Netflix © 2025

The dystopian thriller "Squid Game" officially came to an end on June 27, 2025, with the release of its third and final season. Creator Hwang Dong‑hyuk made it clear that this was not just another chapter, but a definitive conclusion to Seong Gi‑hun’s dark and gripping journey. What began as a film idea way back in 2009 evolved through two earlier seasons and now, with this finale, the survival saga reaches its full circle.

From the very beginning, the narrative was powered by an unflinching look at desperation, economic inequality, and the moral cost of survival. Season one introduced us to Gi‑hun, Player 456, a debt‑stricken everyman who enters a deadly game of childhood contests for a chance at wealth. Four years later came season two, where he plunged back into the violence with new purpose: to dismantle the system from within. By the time season three premiered, Hwang had already crafted the arc to culminate in a powerful finale one that demands closure.

At the heart of the final season is the ultimate test of humanity. The last six episodes deliver a brutal showdown, marked by extreme violence and gut‑wrenching moral dilemmas. One of the most striking plotlines reveals a pregnant contestant, Player 222, and her newborn baby. The games escalate drastically, climaxing in a final confrontation among Gi‑hun, Myung‑gi, and the infant.

In a harrowing twist, the baby becomes the series’ champion. Gi‑hun, torn between survival and sacrifice, chooses to save the child rather than secure the prize for himself. He gives his life so that the infant can live. Myung‑gi perishes in the struggle but his death doesn’t count because the game wasn’t officially started leaving the baby as the sole victor.

Hwang explained that the decision to crown a newborn as the winner was deeply symbolic, representing hope for the next generation despite the darkness of the games. The baby’s win is not only a shocking narrative twist; it is a deliberate message about legacy and responsibility .

The finale also brings major emotional closure. Gi‑hun utters a powerful appeal to the Front Man’s VIP audience: We are not horses; we are humans. Then he steps into sacrifice. The Front Man survives, taking the baby to safety and delivering her to his own brother, Detective Jun‑ho, along with Gi‑hun’s winnings.

In another seismic moment, Oscar‑winner Cate Blanchett appears as a recruiter in Los Angeles, mirroring Gong Yoo’s recruiter from the original series. Her cameo implies that Squid Game is expanding potentially moving into a global or U.S.‑based context.

Despite its monstrous violence, season three landed with thematic precision. Rotten Tomatoes reports critics viewed it as a grim but fitting climax, an unapologetic end to a narrative built on systemic decay, human desperation, and fleeting hope.

Cast members themselves had mixed emotions. In a Netflix Tudum interview, lead actor Lee Jung‑jae admitted he was both proud and anxious about the finale, unsure how fans would receive Gi‑hun’s ultimate sacrifice.

So why end now? In interviews from late 2024 to early 2025, Hwang emphasized that the story he set out to tell was complete. Though seasons two and three were written as one continuous narrative, splitting them allowed for a richer exploration and the dramatic crescendo he envisioned. He also noted that any future storytelling would shift to new characters or perspectives, such as the enigmatic masked guards.

While the core series concludes, the Squid Game universe isn’t going away. A reality competition show, a mobile game, immersive experiences in New York, and that English‑language adaptation with David Fincher attached are already in the works.

In summary, "Squid Game" closes on a bleak, emotionally charged note. Its final season refuses easy answers, offering instead a stark commentary on humanity, capitalism, and the cycles of violence. Though the main narrative ends here, its cultural impact and expanded universe will continue to unfold for years to come.