Season two ended on a tragic cliffhanger, with the games' guards defeating Gi-hun's rebellion against the games.

After finding himself competing in the deadly games again, Gi-hun persuades his fellow players to stage a rebellion against the guards, steal their weapons, and storm toward the command center.

This plan is foiled by a saboteur in Gi-hun's ranks: Hwang In-ho, the game's leader, who entered the competition as Player 001 to spy on Gi-hun.

In-ho splits the rebels, making them easier to defeat, and fakes his own death. After his guards crush the uprising, In-ho, hiding his identity behind a mask, kills Gi-hun's best friend right in front of Gi-hun.

Outside the games, Gi-hun recruited a group of people to help find the game's island to shut down the competition. The season finale shows that they have a traitor among them, too — Captain Park, a fisherman who owns the boat the team is using to find the island.

"Squid Game" creator Hwang Dong-hyuk told Entertainment Weekly in December that seasons two and three were written as one story, but split into two seasons to accommodate all the episodes.

Since the games were not finished by the end of season two, season three will show the second half of the same competition. Gi-hun and his allies' will also likely have their last attempt to destroy the games.

The most popular game in "Squid Game" season one was "Red Light, Green Light," in which the players race to the finish line without being spotted by a giant rotating creepy doll.

The doll was based on a statue in South Korea of Young-hee, a character from old school textbooks. In June 2022, Hwang said in a statement teasing the second season that the show will introduce Cheol-su, a character often paired with Young-hee.

Giant dolls of Cheol-su and Young-hee appear in a post-credit scene in the season two finale. The scene seems to be teasing one of the game settings in season three, but it is not clear yet what the game will actually be.

In December, Hwang told Entertainment Weekly that he decided to end the show after the third season because the story he is "capable of telling through Gi-hun" ends there.

He later told Variety that he was "sick" of making "Squid Game."

"I'm so sick of my life making something, promoting something," Hwang said. "I'm just thinking about going to some remote island and having my own free time without any phone calls from Netflix."

Since Netflix owns the rights to "Squid Game," it could create more spin-offs without Hwang's involvement. It already has a reality show, "Squid Game: The Challenge," and the video game "Squid Game: Unleashed." Variety reported that Hwang has been kept in the loop with these projects but has not been involved with them.

Deadline reported in October, citing unnamed sources, that an English-language version of "Squid Game" was in the works and that David Fincher may be hired to develop the show.

This includes: Player 388, Dae-ho (Kang Ha-neul), the ex-marine; Player 222, Kim Jun-hee (Jo Yu-ri), the pregnant woman; Player 007, Park Yon-sik (Yang Dong-geun) and his mother, Player 044, Jang Geum-ja (Kang Ae-sim); Player 044, Seon-nyeo (Chae Kook-hee), the mystical lady; and Player 120 Hyun-ju (Park Sung-hoon), an ex-special forces officer and transwoman.

Lee Jung-Jae and Lee Byung-hun will reprise their roles as the main protagonist, Seong Gi-hun, and the antagonist, Hwang In-ho. Other non-player characters who are still alive at the end of season two will also return, including former Detective Hwang Jun-ho (Wi Ha-joon) and Woo-seok (Jeon Seok-ho).