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Squid Game Season 1 Ending Explained

By Peter Mutuc

Updated Dec 26, 2024

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Netflix's Korean drama series Squid Game has a twisty ending that promises more to come, but viewers may need an explanation of events ahead of season 2. Squid Game's conclusion brings the titular tournament to a close in a thrilling and tragic fashion, echoing the themes of other critically acclaimed survival thrillers like The Hunger Games and Battle Royale. The series' messages about wealth and survival are poignant, and its twists and turns will keep viewers hooked until the very end of its finale.

After an entire season following the divorced and down-on-his-luck Seong Gi-hun in his attempts to win the Squid Games, viewers finally get to see the outcome of his efforts in episode 9, "One Lucky Day." Gi-hun is one of many contestants saddled with debt and desperate to escape, even if it means competing in the deadly tournament. And by the end of Squid Game season 1, it's down to Gi-hun and his childhood friend, Cho Sang-woo, to determine who will win the grand prize of 45.6 billion won (approximately $38 million USD).

Who Wins The Squid Game Tournament? Gi-hun's Victory Explained

Why Sang-Woo Kills Himself Instead Of Walking Away

Seong Gi-hun and Cho Sang-woo Squid Game

Squid Game season 1, episode 9 opens with the final challenge of the tournament, and the game Gi-hun and Sang-woo play gives Squid Game its name. The game tasks one player with being on offense, while the other takes a defensive position. The person on the offensive — in this case, Gi-hun — must make their way through a squid-shaped court, tapping the squid's head with their foot to win. Meanwhile, the defensive player must attempt to stop them and push them out of bounds. The contestants play until one of them is no longer able to, with the game typically ending in one of their deaths.

This leads to a tense and emotional brawl between Gi-hun and Sang-woo during the finale, and the VIPs watch callously as the two violently attempt to win the prize. But while Sang-woo nearly kills Gi-hun with a knife he smuggles in, Gi-hun chooses mercy over money in the end. After gaining the upper hand and finding an opening to win, Squid Game's lead takes advantage of the tournament's rules, which indicate that the games can end early if a majority agrees.

Sadly, offering Sang-woo the chance to walk away with him doesn't work out for Gi-hun. His childhood friend stabs himself in the neck, rendering Gi-hun the winner in the end. As for why Sang-woo kills himself during the Squid Game season 1 finale, there are a couple possible explanations. For one, Sang-woo feels guilty over the lives lost throughout the tournament, and he suggests he won't let them die in vain at the beginning of his and Gi-hun's fight. He also knows he'll be returning to his mother empty-handed if he stays alive, something he seems unwilling to accept.

What Happens To Hwang Jun-Ho After Squid Game Season 1's Ending

Actor Lee Wi Ha-Joon Is Confirmed For Season 2

Jun-ho aims his gun against a blue sky and ocean in the distance in the Netflix show Squid Game.

After successfully infiltrating the Squid Game tournament as a guard, police officer Hwang Jun-ho collects evidence to bring back to his colleagues in Seoul. However, Jun-ho's attempts to expose the tournament fail, and he's unable to escape the island where it's held. During a confrontation with the Front Man, who is revealed to be his missing brother In-ho, Jun-ho is shot and left for dead. He falls off of a cliff and into the ocean, and he isn't heard from again. Squid Game season 1's ending doesn't confirm Jun-ho's fate, and many have speculated that he's still alive.

Jun-ho's shoulder wound may not be fatal, but the Squid Game finale suggests the tournament is still going on, meaning Jun-ho's evidence never makes it to Seoul. Even so, actor Wi Ha-joon is confirmed for Squid Game season 2. That means Jun-ho is among the few characters returning for Squid Game's sophomore season. While it's possible that he'll appear in flashbacks, he also may have survived his fall. The series will need to explain what happened after his showdown with In-ho, as well as why his evidence hasn't had any impact on the deadly tournament.

Squid Game Season 1's Villain Twist Explained

The Finale Reveals Oh Il-nam Is Behind The Tournament

One might expect Gi-hun and Sang-woo's fight to be the most shocking moment from Squid Game season 1's finale, but this simply isn't the case. Season 1's ending reveals that Il-nam didn't actually die during Marbles — and he was never really in danger at all. In one of Squid Game's more brilliant twists, the series establishes Il-nam as the creator of the titular tournament. He summons Gi-hun to his bedside just before he dies from a brain tumor, and he explains that he's been hosting the Squid Games with the help of the Front Man.

Il-nam is introduced as an ordinary player, so this revelation is a shocking one for both the audience and Gi-hun. When Gi-hun asks more about Il-nam's identity and motive, he's met with a harsh revelation: that Il-nam is a wealthy man who lends money to people for a living, meaning he's a reason people are desperate enough to participate in the Squid Games in the first place. He also holds the tournament because he's bored, and he tells Gi-hun that having too much wealth makes life "no fun."

This offers a striking depiction of who Il-nam really is, and he's a far cry from the elderly man Gi-hun believes to be his friend. Il-nam also its he ed the tournament in order to "feel something," emphasizing just how empty his life is. The older man is clearly fond of deception and games, and he plays one last one with Gi-hun before perishing. The two make a bet during their final conversation in Squid Game season 1, and it adds another layer of commentary to the ending.

The True Meaning Of Seong Gi-Hun & Oh Il-Nam’s Last Bet

It Speaks To The Greater Meaning Of Squid Game

The scene that reveals Il-nam’s true identity is not only one of the best twists in recent K-drama history; it also sets up the most crucial conversation in Squid Game. As the two talk one last time, Il-nam convinces Gi-hun to agree to a final bet. Looking down from the upper floor of a tower in Seoul, the two see a drunk, homeless man lying in the street in the cold of winter. The man will die of frostbite if no one comes to get him soon. Il-nam bets Gi-hun that no one will help the man by the time midnight strikes.

Although Gi-hun dismisses the bet as nonsense, it’s the perfect metaphor to punctuate their subsequent conversation about what Squid Game really means. Il-nam's ission that he started and ed the games because he and his fellow billionaires were bored with life shows how the morality of the rich is often driven by ego. By contrast, Gi-hun has hardly touched the money he won out of guilt for participating — even if he practically had no choice. As for their final bet, Gi-hun ends up being right, as someone eventually helps the drunk man. However, Il-nam dies before he can learn from the exchange.

How Squid Game Season 1's Final Scene Sets Up Season 2

Gi-Hun Is Out For Revenge Against The Front Man

The Salesman makes another appearance as Gi-hun boards a train on his way to the airport to see his daughter in the U.S. While Gi-hun fails to catch The Salesman, he confronts the person that The Salesman recruited for the game, telling him not to and taking his Squid Game card. As he is about to board the plane, Gi-hun calls the number on the card and is intercepted by the Front Man. He and the Front Man exchange threats, and Gi-hun decides not to get on his flight. This teases his journey in Squid Game season 2, which promises to see Gi-hun seeking revenge.

Netflix's first footage of Squid Game's next season shows more of Gi-hun's conversation with the Front Man, confirming that the enemy knows he's coming after them. This will present an obstacle for Gi-hun's revenge in season 2, but that doesn't seem like it's stopping him from seeking out the other people behind the tournament. Fortunately, that means Squid Game could continue well beyond season 1's ending, which leaves many questions for the show to answer.

An Alternate Ending Would've Negated A Season 2

The Creator Had A Separate Idea Just In Case

Gi-hun wears red hair and a suit while looking alarmed in Squid Game.

The shocking events of Squid Game season 1's finale turned the series on its head and fans have eagerly anticipated season 2 for several years. However, while in production it wasn't clear if the show would become a hit (especially on the level that it actually was a success). With that in mind, creator and director Hwang Dong-hyuk had an alternate ending planned that would've allowed the story to conclude and work as a miniseries (via Entertainment Weekly).

"We actually wrestled between two different scenarios for the ending. There was one, the other alternate ending, where Gi-hun would get on the plane and leave. And then there was of course the one where he would turn back and walk towards the camera. We constantly asked ourselves, is it really right for Gi-hun to make the decision to leave and go see his family, to pursue his own happiness? Is that the right way for us to really propose the question or the message that we wanted to convey through the series?"

Ultimately, Hwang decided to go with the cliffhanger ending for a few reasons. The prospect of a follow-up season was obvious but he also felt there was a deeper meaning behind it. Hwang said, "We came to the conclusion that the question that we wanted to propose cannot be done if he left on the plane." He and the other people behind the series felt that could only be answered if he turned away from the plane. Without that moment, Squid Game season 2 would've been difficult to pull off.

Squid Game