One of the biggest hits in Netflix history, Squid Game appeared onto the scene in the fall of 2021. It sported a colorful cast of characters built into the macabre concept of playing children's games in a literal game of life or death for an immense amount of money. In the process, we fall in love with the various people in soul-crushing death, only to get our hearts ripped out as the titular games take them all out. In the end of Season 1, there is only one sole survivor: Seong Gi-hun (Emmy winner Lee Jung-jae).
Here's everything that went down in the ending of Squid Game Season 2, and what to look forward to when the series returns.
Squid Game Season 2 Ending Explained
Player 456 has returned
Season 2 of Squid Game picks right back from where Season 1 left off, with Gi-hun choosing not to get on a plane to America, joining his estranged daughter and leaving the games behind. Instead, he spends the next two years using his bottomless winnings to fund a massive operation to find the island-based location of the games. When he's put in front of the Front Man (Lee Byung-hun) on Halloween Night, Gi-hun decides to put himself back in the fray, vowing to the new boss, "I'll show you the world doesn't always go the way you want it to."
After every game, the remaining players would vote as to whether to continue, or terminate the games (like we saw being invoked in the second episode of the series). If the majority voted to end the game, not only would they cease, but each player would go home with their share of the prize pool. Each time those people stepped forward in front of those flashy X and O buttons, they were weighing out just how far they would go, whether they would put their necks on the line–and the necks of many others–for the chance at a bigger piece of the pie.
'Squid Game' Season 2No Ju-han/Netflix
Gi-hun storms the castle, and loses
That indeed plays out in several bloody skirmishes across the last two episodes of Season 2. A bathroom bout takes out antagonist Player 230, AKA "Thanos" (Choi Seung-hyun), putting everyone on edge. That night, the "O" players mount an all-out assault on their opposition, slaughtering them in their beds. As gruesome of a sight it is, Gi-hun and his allies hold strong, hidden away, waiting to make their move.
Using the commandeered weapons, and the vast amounts of military experience in their midst, the group is able to make their way through the colorful labyrinths of the backstage area and up near the control room. At last, Gi-hun can come face-to-face with the Front Man, ending these games once and for all. Of course, being there's still one more season, it doesn't go well.
'Squid Game' Season 2No Ju-han/Netflix
The ragtag revolution by the players is squashed. The masked workers take charge of the dorms once more, with Dae-ho and Hyun-ju back with the other players who stayed behind. Everyone else is shot down, including some friendly fire exchanged when the Front Man kills two of them himself (then proceeds to fake his own death to Gi-hun). He then trades the jumpsuit for his familiar black hood, approaching a surrendering Gi-hun and Jung-bae.
Related: Squid Game Creator Reveals the Main Reason He Decided to Make Season 2
'Squid Game' Season 2No Ju-han/Netflix
Getting to know No-eul
No-eul has been one of the soldiers in the games for years. Brought in initially under the promise of "helping those who feel hopeless by putting them out of their misery," No-eul's career stability has come to a head with the re-emergence of other works trying to sell organs of the dead players on the black market. At different points in the season, she takes no mercy in snuffing out wounded players, stymieing those who are trying to keep them alive as long as possible for better market value. Things build to a point where No-eul is unmasked and threatened in her own quarters, left with a cut on her face as a warning to stay out of their business.
Despite her cold demeanor, No-eul does have a soft spot in the games. Before suiting up, she had worked as a costumed character. During her job, she had a close bond with an incredibly ill little girl, who needs costly surgery to survive. And so the girl's father entered himself in the games as Player 246, hoping to win those funds to keep his child alive. Unfortunately, he is part of Gi-hun's player revolution, and seems to get cornered and shot by the soldiers. However, given No-eul's penchant for mercy kills, it would be a perfectly fitting piece of irony if she only maimed him to fake his death, in the hopes of saving his life.
'Squid Game' Season 2No Ju-han/Netflix
Yes, his brother was a previous participant in the games, and was a winner. When Jun-ho's identity is revealed, he gets cornered at the edge of a cliff, where the Front Man reveals that he is Jun-ho's brother. While In-ho shot him, sending him off to his certain doom, he was saved from the sea off-camera, rescued by Captain Park (Oh Dal-su).
Much like Gi-hun, once Jun-ho came out of his coma, he's been focused non-stop on finding the island. His two-year efforts had come up short, until he met Gi-hun and struck up a partnership. When Gi-hun went to the island, Jun-ho recruited Captain Park and a series of heavies to try to find it–and his brother–once and for all. But Season 2 ends on a frustrating note for Jun-ho, as he finds every hope of a lead giving way to a dead end.
Perhaps that might be because there's a saboteur in their midst. Despite being Jun-ho's savior, right now, Captain Park is spurning his best efforts. As the group awaits resuming their work through the night, someone catches the captain bugging his drone. After being caught, the captain kills the man, stabbing him and throwing him ...
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