Squid Game Season 2 Finale Explained: The True Identity of Player 001

Once again, it’s that time of year, time for yet another thrilling game.

Netflix’s beloved series “Squid Game” premiered its much-awaited second season on December 26, featuring seven gripping episodes.

The new season picks up a few years after Seong Gi-hun (Lee Jung-jae), a.k.a. Player 456, emerged victorious from the deadly games. The haunting memories of the deaths from Season 1 still linger in Gi-hun’s mind, compelling him to commit himself and the $45.6 billion prize (approximately $31 million) to dismantling the games forever.

However, events take an unexpected turn, leading Gi-hun back into the games with an entirely fresh group of competitors.

In a significant twist, the Front Man (Lee Byung-hun), who orchestrated the previous games, chooses to participate directly this time, masquerading as Young-il, Player 001. The Front Man, known as In-Ho, is a former champion of the games.

As Gi-hun returns as Player 456, he navigates through the games, beginning yet again with Red Light, Green Light, followed by two new challenges: Pentathlon and Mingle.

This season introduces a new dynamic where, after each round, all remaining players vote on whether to continue or end the games.

Throughout the episodes, Young-il (the Front Man in disguise) develops a friendship with Gi-hun, winning his trust by sharing his own heartbreaking tale. He claims that his pregnant wife is dying and that he joined the games to secure funds to save her and their unborn child, though the audience is aware that the Front Man’s wife has already passed.

This unlikely duo teams up with other contestants, including Gi-hun’s close friend from Season 1, Park Jung-bae (Lee Seo-hwan), who is also a competitor this season, and former marine Dae-ho (Kang Ha-neul).

This season also brings in new characters, such as the mother and son duo Park Yong-sik (Yang Dong-geun) and Jang Geum-ja (Kang Ae-sim), crypto influencer Lee Myung-gi (Yim Si-wan), pregnant player Kim Jun-hee (Jo Yu-ri), and rapper Thanos (Choi Seung-hyun), among others.

Meanwhile, Detective Hwang Jun-ho (Wi Ha-jun), who appeared to be shot dead by the Front Man in the last episode of Season 1, is in fact alive and on the mend. He is now independently pursuing the whereabouts of the island, aided by the boat captain who rescued him, as law enforcement does not believe his claims about the existence of the games.

What unfolds in the season finale, and where are things headed for the third season, which seems to be the finale?

Explaining the Season 2 Conclusion

As Gi-hun struggles within the games to bring them to a halt while preserving as many lives as possible, Jun-ho seeks the island with help from allies Gi-hun previously enlisted before re-entering the games.

However, the boat captain assisting Jun-ho during their search is revealed to be secretly manipulating their efforts.

By the end of the season, Jun-ho has no success in locating the island, remaining unaware that the boat captain is working to keep the games concealed.

During the games, the finale kicks off amidst a brutal conflict among the players. At this stage, a vote has divided the remaining 100 contestants, with half wishing to continue and the other half wanting to end the games. With another vote scheduled for the following day, participants resort to violence against those who oppose their stance to boost their chances.

Meanwhile, Gi-hun devises a strategy to infiltrate the headquarters of the masked overseers to finally put an end to the games, vowing to ensure they face consequences.

He persuades his companions to remain hidden during the unrest instead of defending others, a decision encouraged by Young-il, reflecting his readiness to “sacrifice a few for the greater good.”

While this marks a novel aspect of Gi-hun’s character, whose objective has been to minimize bloodshed, he concludes that a few more lost lives are justifiable to terminate the games once and for all.

As guards rush in to quell the disturbance, Gi-hun and his allies, feigning death, seize the opportunity to overpower the guards and take their firearms, killing all but one in the process.

Gi-hun instructs the lone surviving guard to lead them to his captain. The rebellious group disables the cameras before advancing through the island compound.

The Front Man, still posing as the amiable Young-il, joins the skirmish and tracks Gi-hun’s movements.

Before they can confront the game makers, the group comes under fire. Much of the final episode depicts Gi-hun and his allies resisting against the pink-suited workers.

Regrettably, their resistance falters, despite valiant moments from Hyun-ju, who reveals her Special Forces background prior to entering the games. They are outmatched and outgunned.

Although Gi-hun and Jung-bae advance further than their group, their efforts ultimately fail when Young-il betrays them.

Young-il separates from Gi-hun, claiming he has spotted another route to where the masked individuals are firing at Gi-hun and Jung-bae. However, he ends up killing the two players he brought along and sends a deceptive radio message to Gi-hun, feigning failure and death.

He then adopts the Front Man’s signature attire from Season 1, a long gray coat and black mask. As Gi-hun and Jung-bae are left with no option but to surrender, the Front Man slowly descends toward them and, through a voice modulator, asks Gi-hun, “Did you enjoy playing the hero?”

“Consider the outcomes of your little hero game,” he remarks as he aims his loaded gun at Jung-bae, executing him on the spot.

Gi-hun attempts to defend himself but is overpowered by the pink-suited guards, while the Front Man (still disguised as Young-il) walks away.

The screen fades to black with Gi-hun’s anguished scream echoing as he is forced to behold Jung-bae and the pool of blood around him.

What the Post-Credit Scene Foreshadows for Season 3

The post-credit scene features a quick glimpse of players approaching the motion-sensor doll from Red Light, Green Light. This time, a second giant doll stands opposite the original.

The brief scene concludes with the light shifting from red to green, suggesting that the games will carry on in some manner following the failed uprising.

Creator Hwang Dong-hyuk remarked that he “initially conceived seasons 2 and 3 as a single narrative,” as he shared with Entertainment Weekly.

“That’s the way I drafted it,” he disclosed to the publication. “However, it ultimately became too lengthy, prompting me to decide that splitting it into two would be more favorable.”

Dong-hyuk released a statement indicating that Season 3 will mark the conclusion of the series and is slated for release around 2025, according to Netflix’s companion site Tudum.