Warning: Squid Game 2 spoilers ahead (obviously).
So, you just finished episode seven of Squid Game season two and you’re looking for the next episode, aren’t you? Sorry to be the bearer of bad news, but you’ll have to wait until season three to find out the ramifications of Seong Gi-hun’s (Lee Jung-jae) failed rebellion. Luckily, Squid Game 3 is right around the corner…
At the very least, it won’t take three years to find out who, if anyone, makes it out alive—or if Hwang Jun-ho (Wi Ha-jun) and his merry band of militants ever make it to the right island with a traitor in their midsts.
So, what exactly happened in that season finale of Squid Game 2? Let’s go through it.
What even happened in the finale?Unfortunately, Gi-hun’s plan to stop the Squid Game were harder to implement than he imagined. After multiple failed attempts to get his fellow players to vote to leave the games, Gi-hun staged an armed rebellion by taking down a group of pink-clad soldiers with help from the following players:
Dae-ho is still alive while Jung-bae died in the Squid Game season two finale.
No Ju-han/Netflix
Jung-bae (Lee Seo-hwan): Gi-hun’s childhood friend with a military background and kind disposition. He initially voted to stay in the games after red-light-green-light, but later chose to leave the games.Dae-ho (Kang Ha-neul): An eager-to-please military man who befriends Jung-bae and Gi-hun.Hyun-ju (Park Sung-hoon): A trans woman who was kicked out of the military and ostracized from her community. After initially voting to continue the games, Hyun-ju voted to leave after her friend, Yong-mi (Kim Si-eun) was killed during the brutal game “mingle.”Gyeong-seok (Lee Jin-uk): A desperate father who joined the games to pay for his daughter’s cancer treatments. During the first game, Gyeong-seok was spared by a guard he met on the outside. For her part, No-eul (Park Gyu-young) is a North Korean defector with a missing daughter.Young-il (Lee Byung-hun): “Young-il” is the fake name the Front Man uses during the games to play alongside Gi-hun. His real name is Hwang In-ho. In season two, we learn In-ho lost his pregnant wife when he was unable to pay for her treatments, which is why he initially entered the games in 2015, eventually winning and becoming the organization’s Front Man. His brother is (former) detective Hwang Jun-ho.Hyun-ju is still alive by the end of Squid Game season two.
No Ju-han/Netflix
How’d they do?Let’s just say it didn’t go well. Though Gi-hun’s crew were able to catch the guards by surprise during a vicious fight between players, they didn’t have nearly enough ammunition to keep the army of pink suits at bay. While they were making their way towards the control room with other volunteers, the rebels quickly ran out of ammo.
Meanwhile, Gi-hun and Jung-bae separated from “Young-il” and another player searching for the control room. That’s when the Front Man decided to stop playing “hero” and put his mask back on. After shooting his cohort and faking his own death over radio, he captured Gi-hun and killed Jung-bae.
The Front Man is still alive—and in control—at the end of Squid Game season two.
No Ju-han/Netflix
Which players died in the finale?Aside from Jung-bae, Gyeong-seok was shot by the guards taking down the rest of the rebels—not to mention the bloodshed back at base camp.
Gyung-seok was shot in the final episode of Squid Game season two.
No Ju-han/Netflix
After crypto-influencer Myung-gi (played by K-pop star Yim Si-wan) stabbed YouTube rapper Thanos (played by K-pop rapper T.O.P.) during the bathroom fight in the previous episode, we witnessed another prominent player, Se-mi (Won Ji-an), get murdered by the rapper’s lackey, Nam-gyu (Roh Jae-won), during the players’ final brawl.
Thanos was killed in episode six of season two, while Nam-gyu survived the season.
Netflix
Who survived?Besides the Front Man and Gi-hun, it seems only two other rebel fighters will make it to season three. Though Dae-ho was tasked with returning to the players’ quarters for more ammo, he panicked and abandoned the fight. Hyun-ju eventually went back to find him, which kept her alive when the guards overpowered the fighters.
Here’s a list of surviving players who stayed by the bunks during the rebellion:
Yong-sik and Geum-ja stayed alive throughout Squid Game season two.
No Ju-han/Netflix
Mother-son duo Geum-ja (Kang Ae-sim) and Yong-sik (Yang Dong-geun)Myung-gi: a once-famous YouTuber who lost everything by investing in crypto currency—and encouraging his followers to do the same. Multiple Squid Game players, including his pregnant ex-girlfriend, went into debt by following his advice.Jun-hee (Jo Yu-ri): the pregnant player who used to date sad crypto boy.Seon-nyeo (Chae Kook-hee): a pretty creepy shaman who puts curses on other players.Min-su (Lee Da-wit): Thanos’ timid lackey who betrayed Se-mi during Mingle, but later tried to protect her from Nam-gyu.Nam-gyu: the mean-spirited junkie who intimidates Min-su, targets Myung-gi, and brutally murders Se-mi.Both Jun-hee and Myung-gi are alive by the end of Squid Game season two.
No Ju-han/Netflix
What about No-eul?With so many pink suits dying in the finale, it’s hard to tell if No-eul was among them. However, it feels unlikely that series creator Hwang Dong-hyuk would let her die off-screen. During the games, No-eul was tormented by other guards for making sure players were dead before their bodies could be harvested for viable organs. Clearly, her story isn’t over.
Kang No-eul is alive by the end of Squid Game season two…as far as we know.
No Ju-han/Netflix
So, does Gi-hun know that “Young-il” is the Front Man?As far as we can tell, the Front Man had no intention of exposing his true identity to Gi-hun, which is why he faked his death over the radio and put back on his mask. Clearly, they’re saving that reveal for season three. If only Jung-bae told Gi-hun what happened during Mingle…
We’ll miss you, Jung-bae!
No Ju-han/Netflix
Not-so-random question: Did the Front Man try to kill his brother in the season one finale?It’s looking like the answer is no. While it was possible the Front Man accidentally hit Jun-ho’s shoulder when he was aiming for his heart, one of the biggest twists in the season two finale suggests otherwise.
In season two, we learn Jun-ho was rescued by kindly fisherman Captain Park (Oh Dal-su), who continued to help him search for the island for three years. Once Jun-ho teams up with Gi-hun to take down the organization, he asks Captain Park to transport their team of hired gunman on a mission to storm the island once and for all.
Thankfully, Jun-ho is still alive at the end of Squid Game season two.
No Ju-han/Netflix
So, what was the big season two finale twist?As the team searches different islands, they’re met with multiple obstacles. During one deadly search, they lose one of their men to a booby-trapped door, suggesting the bad guys are aware of their plans. How? In the season two finale we discover Captain Park has been working for the Front Man when he kills off a member of the rescue team.
Does Jun-ho know the truth about Captain Park?Not yet, but at lease we know the Front Man probably hired Captain Park to save his brother…That’s kind of nice, right? Unfortunately, In-ho likely instructed the captain to keep Jun-ho off his trail, which isn’t good news for Gi-hun.
So, what comes next?Well, everyone’s in a bit of a pickle. The surviving Squid Game players are still at the mercy of the Front Man and his guards, and their rescue team isn’t fairing much better. “Player 456, did you have fun playing the hero?” the Front Man asked Gi-hun in the finale. “Look at the consequences of your little hero game.”
Unfortunately for us, we won’t find out the full scope consequences of Gi-hun’s “hero game” until sometime in 2025.
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