Squid Game Season 3 ending: The biggest questions that were left unanswered

When Squid Game first premiered, it shattered Netflix streaming records and shocked the world with its unique content, a concept that had largely been missing from the digital landscape. The intense, bloody competition between cash-strapped contestants fighting for a life-changing prize quickly became a global phenomenon.

Now, in 2025, the show has reached its conclusion with the premiere of Squid Game Season 3. This season wrapped up with less shock value and more emotional points, ending in a way that confused many fans and left them with endless theories and unanswered questions.

The South Korean thriller has been a wild ride, keeping viewers glued to their screens. But as the credits rolled on Season 3, fans were left wondering not only about plot holes, but also what the future holds for this fan-favourite franchise.

Squid Game season 3 ending

Written and directed by Hwang Dong-hyuk, Squid Game season 3 revolves around the hero of the show, Gi-hun (played by Lee Jung-jae) and 455 other debt-ridden players. While Gi-hun has returned to end this deadly game forever, but other 455 players are here to be the billionaires.

The twist in this season is that none of the players escapes the competition alive, except the two players - one the winner, player 222, aka Jun-hee’s baby, and the other player, who actually manages to escape the game and the island alive. Meanwhile, Jun-ho's investigation to find the island gets a very abrupt end.

Was this a worthy ending?

Squid Game season 3 didn't end on a shocking note; rather, it was more of an unsatisfying end that left many viewers with a bunch of questions, such as whether Gi-hun, the hero of the show, willingly dies for the sake of the baby, who ends up winning the game. However, the show's ending has left the viewers with endless theories and questions.

Here are the questions that the fan thinks must be answered.

Squid Game history?

Many fans were in the hope that the audience might get to know something about how this deadly game started. But the question remained unanswered.

What is Cate Blanchett doing in the show?

As a surprise, American actress Blanchett makes a cameo appearance in the finale of Squid Game Season 3, playing a recruiter, hinting that the Korean version is over, but you might see an American version of the show in the future.

How did Squid Game end?

In the final moments of Squid Game season 3, after Gi-hun is eliminated, the Front Man is told that the Coast Guard is approaching. He quickly orders to evacuate the island and goes on to rescue Jun-hee’s baby, who is the winner.

While the last shot of the island was of it being bombed, and that's it. The story is cut to the next six months. What happened? The game has still not been unveiled, and everyone has been freed.

What is the conclusion of Hwang Jun-ho’s investigation?

Hwang Jun-ho has finally found the island where the deadly game has been played over the years, and he manages to enter the island and witness his brother, the Front Man, in the game arena from the VIP viewing area. However, his character was unable to do anything, as we saw him in the water when the bombs exploded. And six months later, he got the baby and the money. Now what?

What happened to VIPs in season 3’s ending?

The most inhuman part of the show is to watch VIP's commentary on the show. Gi-hun sacrificed his life for the baby, the VIP's were seen watching with a sombre tone in the back. After the frontman orders evacuation, not a single shot of the VIP's were shown. Were they dead? Or did they escape? Everything remains unanswered.