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Squid Game Season 2 Ending Explained, Revealing These 4 Characters!

Squid Game season 2 ending was full of blood and betrayal as Gi-hun's allies rebelled against Front Man and his evil group.

After the end of Squid Game season 1, Gi-hun was determined to find the island where the game took place and avenge the deaths of the players. His indifference to victory meant that the story continued in Squid Game season 2 with a rather disappointing ending.

Squid Game season 2 sees Gi-hun returning to jump into the game. The leader, Front Man, realizes that his enemy is determined to wipe out all the elites, stop their cruelty, and tear down their exploitative vision.

Therefore, the villain infiltrates the camp as a spy with the aim of manipulating situations and obstructing Gi-hun’s revolution. This all leads to a bloody and fiery ending, which shows that every action has consequences.

Squid Game Season 2 Ending Explained

1. The Secret Game in Squid Game Season 2

Squid Game Season 2
Squid Game Season 2

Gi-hun attempted to gather players to take advantage of a loophole in the game rules, where they could choose to quit and go home. However, many players wanted to continue playing as the prize pot was getting bigger.

The professional players were called Team O, while Gi-hun’s followers were known as Team X. Team X refused to continue engaging in violence, so the naive ones attempted to leave. After the rewards were distributed, they would only get enough money to pay off their debts.

The restless criminals organize unofficial games to reduce the number of players. They wanted to keep things on track. This sparked a feud in the restroom, where members of both sides engaged in a deadly brawl. Currently, X has 48 players left, while O has 47.

Management prepared a second secret game to overcome the haters. When the lights go out, O will attack X to gain more lives, giving an advantage in the next vote.

2. Gi-hun’s Dark Side Revealed

Gi Hun
Gi Hun

Squid Game’s leader, In-ho (also known as Young-Il), joined Team X in order to get close to Gi-hun. He managed to gain the trust of all the team members and encouraged them to actively attack O.

Gi-hun realized that his small group could use the massacre to their advantage. When the masked guards arrive, they plan to feign death, attack, and steal weapons from them.

After the riots, a coup occurs as Team X kills soldiers and prepares for war. Some O members defected as Gi-hun felt the need to increase forces to storm the control room. Luckily, X had military-experienced members like Dae-ho and Hyun-ju, who then launched an attack by firing into the corridors and climbing into the control room.

In-ho is forced to shoot his own workers to protect his secret and realizes Gi-hun’s cruel nature. The recruiter reveals that Gi-hun is a hypocrite for ignoring his past mistakes.

Now, Gi-hun must bend his morals, sacrificing his friends and allies to meet the boss, believing that this is the price to pay to end the game in the Squid Game episode.

3. Squid Game 2 Turns Dae-ho into a Coward

Dae Ho
Dae Ho

Dae-ho is a brave soldier loyal to Gi-hun. He escapes to get more magazines for Team X, but when he returns to the barracks to retrieve the goods of the dead workers, panic strikes after hearing continuous gunfire.

Dae-ho couldn’t face the bloodshed and grief, so chose to stay at the base. Hyun-ju attempted to retrieve the ammunition, but realized that Dae-ho had abandoned them at a time when it was most needed. Unfortunately, Hyun-ju was unable to return to the X team that needed the magazines.

The workers attack a place with guns, but Geum-ja, an old woman, warns that the attack will lead to death. Hyun-ju manages to foil the attack plan, saving the lives of others.

In his transition journey, Hyun-ju finds support from those around him and feels connected to Geum-ja whom he considers like a mother. Despite having to destroy his clan and absorb the energy of defeat, Hyun-ju feels his actions are the right move.

4. Punishment for Jung-bae for Gi-hun’s Rebellion

squid game season 2 ending explained
Jung Bae

After the barracks were conquered, Gi-hun’s plan crumbled. His soldiers are killed or captured, leaving Gi-hun, his best friend Jung-bae, Front Man, and a few other colleagues. In-ho took the last two men to the back, lied about an alternate route, then shot them.

Front Man informed Gi-hun that all his soldiers were killed, pretending to be drained of blood and leaving Gi-hun in despair.

In-ho puts on his suit and mask again, bringing his guards out as Gi-hun and Jung-bae surrender. He warns Gi-hun about the dangers of defiance, false hope, and the consequences.

Instead of killing Gi-hun, he shot Jung-bae, who was a kind and gentle man. Jung-bae got into the game after going through bankruptcy due to divorce, and the act tormented and punished him even more.

Gi-hun felt guilty for not supporting his childhood friend, Jung-bae. He chose to cut off contact with the outside world and spent a lot of resources getting back into gaming.

Had he communicated and shown compassion, Gi-hun might have been able to help Jung-bae who was going through a difficult time. Now, Gi-hun is crying regretting his decision.


The rebels have been defeated, and the elites are preparing to start a new game in Squid Game Season 3. Gi-hun is determined to break the game and fix his personal life.

Unfortunately, revenge was neither the main focus nor a good ending in Squid Game season 2. Gi-hun took a big risk but lost, while Front Man enjoyed the victory of a seemingly unbeatable and rigged system.


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