Squid Game Season 3 Ending Explained: Gi-hun’s Sacrifice, Twisted Final Game, and a Possible Spin-Off Teased

Netflix’s Squid Game concluded its high-stakes, emotionally heavy story with Season 3 on June 27, 2025, and fans are still reeling from its shocking finale. The final season wraps up the journey of Seong Gi-hun, played by Lee Jung-jae, in a bittersweet, blood-soaked farewell. The season finale not only delivers brutal thrills and heartbreaking character arcs but also hints at new beginnings with a potential Squid Game spin-off.

Here’s a detailed breakdown of the Squid Game Season 3 ending, character fates, and what it could mean for the franchise’s future.

The Final Games and Deaths Begin Early

From the start, Season 3 pushes emotional boundaries. In a deadly version of Hide and Seek, Jun-hee gives birth to a baby girl mid-game, adding a new dimension to the stakes. As the game progresses, tragedy strikes:

• Hyun-ju dies,

• Geum-ja stabs her son to protect the newborn and later takes her own life,

• Jun-hee, with a severely injured leg, entrusts her child to Gi-hun and jumps off a bridge during a jump rope challenge.

Each round pushes contestants to the edge, both physically and emotionally.

The Sky Squid Game: A Final Test of Humanity

The final game—Sky Squid Game—is divided into three stages. Players must jump between pillars shaped like a square, triangle, and circle, pushing others to survive.

Only three players make it to the last round:

• Gi-hun (Player 456)

• Myung-gi (Player 333)

• Jun-hee’s baby girl (Player 222)

Gi-hun tries to protect the baby, but Myung-gi attacks. In their battle, Myung-gi falls to his death. But because no one had pushed the buzzer to begin the round, the game still requires a sacrifice.

Instead of letting the baby die, Gi-hun presses the buzzer and jumps, ensuring the baby's survival. With this, Player 222 becomes the ultimate winner, symbolizing innocence and hope.

Gi-hun’s Final Words and The Island’s Destruction

In one of the most heart-wrenching scenes, Gi-hun looks up at the hidden VIPs and declares:
“We are not horses. We are humans. Humans are…”
Before finishing his sentence, he sacrifices himself.

After his death, the Squid Game island is set on fire. The Front Man, aka In-ho, surprisingly shows a moment of compassion. He rescues the baby and ensures she receives the full ₩45.6 billion prize money in Gi-hun’s honor.

Alternate Ending & Last-Minute Changes

Director Hwang Dong-hyuk revealed that the ending was not part of the original script. Initially, Gi-hun was supposed to choose survival. But during the writing process, the narrative shifted to reflect his character’s growth and moral resilience.

The emotional weight of Gi-hun’s sacrifice, as well as a vision of Sae-byeok reminding him of his humanity, plays a pivotal role in this shift.

The Front Man’s Redemption and Closure

Throughout Season 3, the ideological conflict between Gi-hun and The Front Man (In-ho) builds tension. Gi-hun believes in the goodness of humanity, while In-ho is cynical. In the end, Gi-hun’s selfless act cracks In-ho’s cold exterior.

In a final twist, In-ho visits Gi-hun’s daughter, delivering his belongings and the prize money. He appears emotionally affected, suggesting the possibility of his redemption.

Character Closures and Surviving Arcs

Several side characters get brief but meaningful resolutions:

• Jun-ho (In-ho’s brother and the cop from Season 1) returns and finds the baby girl and the money in Gi-hun’s apartment.

• Gyeong-seok, who joined the game to save his daughter, reunites with her.

• Woo-seok begins plans to reopen Gi-hun’s hotel.

• Sae-byeok’s younger brother finally finds his mother.

• No-eul discovers a clue suggesting her missing daughter might still be alive.

Cate Blanchett’s Cameo and Future Spin-off Possibilities

The last moments show In-ho in Los Angeles, where he witnesses a woman in a suit slapping down a Ddakji card—none other than Cate Blanchett, revealed as a new recruiter for the Games.

This cryptic ending hints at a possible Squid Game: America spin-off, indicating that while Gi-hun’s story is over, the Games are far from finished.

 A Tragic but Powerful End

Squid Game Season 3 ends with a tragic but thematically powerful conclusion. Gi-hun, once a broken man, finds redemption in self-sacrifice. The baby’s survival offers a faint glimmer of hope in an otherwise grim universe.

While Squid Game as we know it may be over, its legacy could live on through new stories, new games, and a new generation of contestants.

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