Who Wins Squid Game Season 3? The Heartbreaking Finale Revealed

Warning: This article contains SPOILERS for Squid Game Season 3.

Squid Game Season 3 delivers a heartbreaking and powerful ending. Gi-hun (Player 456) faces his darkest moments but finds a purpose that defines the series’ conclusion. Here’s a breakdown of the finale, who wins, and what it all means.

Why Gi-hun Sacrifices Himself for the Baby

Gi-hun starts Season 3 broken after losing close allies. However, when Geum-ja and Jun-hee entrust him with Jun-hee’s newborn baby (Player 222), he finds a reason to fight. In the final game, Sky Squid Game, Gi-hun sacrifices himself to ensure the baby’s survival.

His True Purpose:

• A shaman’s prophecy in Season 2 hints that Gi-hun’s destiny ties to Jun-hee.
• Protecting the baby becomes his ultimate mission.
• He realizes he can’t live with his past actions but believes the baby can have a better future.

Gi-hun’s humanity drives his sacrifice. Like in Season 1 with Sang-woo, he chooses to let someone else win the prize, finding redemption in his final act.

Cate Blanchett’s Surprising Cameo

Before the credits roll, Cate Blanchett appears as a new recruiter playing Ddakji, the iconic recruitment game. She slaps a man for failing, mirroring Gong Yoo’s role as the Salesman.

What It Means:

• This likely teases Netflix’s rumored US spin-off.
• Blanchett could be the new “Saleswoman” for the American version.
• Her involvement adds excitement to the franchise’s future.

Fun Fact: Creator Hwang Dong-hyuk has ideas for spin-offs, including one set between Seasons 1 and 2 focusing on recruiters like Captain Park.

Gi-hun’s Last Words: “We Are Not Horses. We Are Humans.”

In Season 1, the Front Man compares players to horses—tools for entertainment. Gi-hun rejects this in his final moments.

Why It Matters:

• His words protest the dehumanization of the games.
• They affirm his belief in human dignity despite everything.
• Gi-hun dies conflicted but defiant, holding onto his values.

Who Takes Gi-hun’s Season 1 Prize Money?

A mysterious figure steals Gi-hun’s Season 1 winnings from a hotel room, puzzling Woo-seok. The truth unfolds in the finale.

The Answer:

• The Front Man, In-ho, takes the money.
• He delivers it to Gi-hun’s daughter with a box of her father’s belongings, including a debit card for access.
• In-ho honors what Gi-hun would have wanted by securing the wealth for her.

Why the Front Man Leaves the Baby with Jun-ho

In-ho (the Front Man) has a complex bond with his half-brother, Jun-ho. Despite his dark past, he shows care in the end.

His Decision:

• In-ho entrusts Jun-hee’s baby to Jun-ho, believing he’ll provide a better life.
• Gi-hun’s sacrifice changes In-ho, making him see humanity’s worth.
• He wants the baby far from the corrupt world of the games.

In-ho also reacts with concern to Cate Blanchett’s recruiter scene, hinting at unease about the games continuing in the US.

Does No-eul Reunite with Her Daughter?

No-eul, the rebellious guard, discovers her daughter’s fate in the games’ records, which say she passed away. Gi-hun’s sacrifice inspires her to keep going.

Her Journey:

• A detective finds a possible match for her daughter in China.
• No-eul heads there with hope of a reunion.
• The show leaves her story open-ended, letting viewers root for a happy ending.

Why Jun-ho Doesn’t Shoot In-ho

Jun-ho confronts his brother In-ho but chooses not to shoot him.

The Reason:

• He remembers how In-ho spared his life in the past.
• Their bond and shared history hold Jun-ho back.
• This moment shows mercy despite betrayal.

Which Main Characters Survive Season 3?

Only two players survive the final game:

Survivors:

• Baby (Player 222): Lives due to Gi-hun’s sacrifice.
• Kyung-seok (Player 246): Survives thanks to No-eul, who fakes his death by shooting him non-lethally and later saves him from organ trafficking.

The Real Meaning of Squid Game’s Story

The series ends with a haunting message about humanity and systems of power.

Key Themes:

• In-ho’s Arc: Shows how desperation can corrupt even good people. He becomes part of the system, losing his morality for control.
• Gi-hun’s Sacrifice: Proves one person can challenge exploitation and inspire change.
• Social Commentary: The games mirror real-world issues like inequality, dehumanization, and survival at any cost.

Final Thought: Squid Game Season 3’s ending delivers a bittersweet conclusion. Gi-hun’s sacrifice ensures the baby wins, breaking the cycle of violence. While the main story ends, hints of spin-offs suggest the games’ dark legacy might continue.

All episodes of Squid Game Season 3 are now streaming on Netflix, wrapping up Gi-hun’s journey with a powerful and emotional finale.