As expected, this third and final season is a blood bath, with only a handful of survivors: Front Man, his younger brother Jun-ho (Wi Ha-joon), North Korean defector No-eul (Park Gyu-young), caricaturist Gyeong-seok (Lee Jin-wook) who No-eul saves, and Jun-hee’s newborn baby.
Unfortunately, most of the characters we loved (or loved to hate) don’t make it to the end. When Jun-hee makes Gi-hun promise that he would make sure her baby survives, it’s clear that she will die. She sacrifices herself so her baby can live. Jun-hee’s ex-boyfriend and the father of her baby Myung-gi (Im Si-wan), kills Hyun-ju (Park Sung-hoon), who was trying to protect Jun-hee and Geum-ja (Kang Ae-sim). Then he dies, too.
When Geum-ja’s son Yong-sik (Yang Dong-geun) attempts to kill Jun-hee to save his own life, his mother fatally stabs him with a binyeo (비녀) hairpin she had snuck into the games. (She had always told him that her binyeo would make a formidable weapon.) Geum-ja asks Gi-hun to take care of Jun-hee and her baby, signifying that she doesn’t expect to live, either. Later, she dies by suicide in an attempt to atone for killing her son.
Gi-hun kills cowardly Dae-ho (Kang Ha-neul), who he blames for the insurrection failing. And finally, Gi-hun jumps to his death, allowing Jun-hee’s baby to be the winner. Off the island, Jun-ho kills Park Yeong-gil (Oh Dal-su), the sea captain who rescued Jun-ho in the first season — before he dies, Captain Park confirms that he was instructed by the Front Man to keep Jun-ho alive.
How does Squid Game season 3 end? What does the ending mean?
Lee Byung-hun as Frontman in Squid Game season 3.No Ju-Han/Netflix © 2025
Thanks to No-eul helping Gyeong-seok escape, he is able to tell Gi-hun and the coastguard where the island is located. With this information, Gi-hun heads out to find his brother. Anticipating their arrival, the Front Man implements the games’ escape plan. The VIPs and pink soldiers are evacuated, and the island is blown up.
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