'%20x='0'%20y='0'%20height='100%25'%20width='100%25'%20%0A%20%20%20%20%20%20%20%20%20%20xlink%3Ahref='data:image/jpg;base64,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'%3E%3C/image%3E%3C/svg%3E)
Squid Game season 2 aired on December 26, 2024, and left fans on a cliffhanger, as Gi-hun attempted to overthrow the Pink Guards to put an end to the games once and for all. The next season will pick up directly from the events of season 2, after his plan fell apart after being betrayed by Player 001, also known as In-ho or the Frontman, leaving Gi-hun back at square one.
With Squid Game season 3 confirmed as the series' final installment, creator Hwang Dong-hyuk is expected to tie up loose ends and deliver a dramatic conclusion to the story.
It seems the games will continue, forcing Gi-hun and the remaining survivors to participate once again. Adding to the intrigue, a mysterious mid-credits scene hints at more surprises in store for viewers. Meanwhile, after studying patterns and finding connections in the story, fans have started theorizing what to expect from Squid Game season 3.
Trending
Squid Game season 3 theories
1) Similarities between the Frontman and Gi-hun's backstory
Fans theorize that the Frontman might share a backstory similar to Gi-hun's. Perhaps he once won the game and initially returned with the intent to shut it down. However, unable to stop the game, he may have chosen the "lesser evil" approach, stepping into the role of Frontman to ensure the competition remains fair and free of manipulation.
The reasoning given by the Frontman to Gi-hun for joining the games—his sick, pregnant wife—was most likely the same reason he participated in his actual first round of the games. However, despite potentially winning, his wife passed away, as indicated by Jun-ho visiting her grave.
This mirrors Gi-hun's situation with his ailing mother. Furthermore, like Gi-hun, it seems the Frontman didn’t spend much of the prize money he won. When Jun-ho searched for him in season 1, it was revealed that he lived in a modest dormitory and struggled to pay rent on time. These parallels between the two characters suggest their journeys are more alike than they appear.
2) Suspicions against Gi-hun
Another set of fans thinks Gi-hun might end up being villainized rather than vindicated after returning to the lobby in Squid Game 3. Being the only contestant given special treatment, while his closest allies perished, could fuel suspicion among the remaining players and strengthen the narrative that he may have betrayed them. This would likely lead to immediate chaos and conflict.
In the final game, Gi-hun could face the Frontman, who reveals himself to be Player 001. Before the Frontman can kill Gi-hun, the brother could intervene and shoot him first. This could pave the way for a rescue team to arrive, saving the remaining players and possibly arresting the VIPs.
3) How will the games continue?
One possible explanation for how the games continue uninterrupted in Squid Game 3 is that the Frontman has spies and operatives embedded within the Korean police force, ensuring any interference is quickly suppressed. Additionally, he may rely on individuals like the fisherman to strategically block intruders from reaching the island.
Another theory is that the surviving players will be detained and the games are reset. This could mean returning to the original 456 participants, with all new entrants potentially tied to the surviving group as a form of punishment. The games may also become even more brutal and unforgiving.
4) Squid Game: a global operation?
The show could also surprise viewers by revealing that the Squid Game is a global operation, with versions in multiple countries. Exploring more about the VIPs and how the island’s logistics—such as its resources and manpower—are managed would add layers to the story and further enrich the narrative.
Jun-ho might eventually find a way onto the island, possibly by tracking a VIP helicopter. While some believe In-ho might be working to dismantle the games, it could also be the contrary. However, if In-ho is captured, he could reveal that this is just one of many game locations, potentially setting up a spin-off in another country.
5) What happens to guard 011?
Another theory suggests that Guard 011 somehow kept Player 246 alive, possibly using the aftermath of the rebellion as cover to hide him in the surgery room. It’s also possible that some organ harvesters were killed during the uprising, creating the opportunity for this to happen. The black-masked square guard might meet his end due to 011’s interference.
Since her subplot has been carefully developed, there’s likely a significant payoff to her story that hasn’t been revealed yet. There is also potential for Guard 011 and some other guards to break rank in Squid Game season 3, possibly teaming up with Jun-ho and Gi-hun to take down the games.
It will be interesting to see which of these theories are proven true or if there is a twist no one could anticipate. With multiple characters holding the power to steer the story, the rest will only be revealed when season 3 is released later this year.
