'Squid Game' Season 2 Finale Mid-Credits Scene Explained: A New Twist on an Old Game

Editor's note: The below contains spoilers for Squid Game Season 2.

The events of Squid Game Season 2's finale prove quite anti-climactic for the show's protagonist, Gi-hun (Lee Jung-jae), who remains dedicated to putting an end to the gruesome games run by Front Man, In-ho (Lee Byung-hun), throughout Season 2. Episode 7, "Friend or Foe," delivers a crushing defeat to Gi-hun after In-ho punishes him by killing Jung-bae (Lee Seo-hwan) in the final moments of the season.

While Gi-hun's fate remains unclear at the end of Season 2, Squid Game creator Hwang Dong-hyuk has ensured that the audience gets a glimpse of what awaits in Season 3 through a mid-credits scene, which has now been released as a teaser for Season 3. Quite definitively, the mid-credits scene answers one of the biggest questions with respect to Season 2 and confirms that the games will continue in Season 3. The mid-credits scene brings back an improvised version of a fan-favorite game to suggest that things will only get more grim for the surviving few after the end of Season 2.

The 'Squid Game' Season 2 Mid-Credits Scene Brings Back a Fan-Favorite Game

The mid-credits scene in the finale of Squid Game season 2 portrays Player 096, Player 100, and Player 353 heading to a play area where the doll Young-hee from the Red Light, Green Light game looms over them. A noticeable change, from the time the players were last seen in this location in Episode 3, appears in the form of another doll placed directly opposite Young-hee. The boy doll, confirmed to be Young-hee's boyfriend Cheol-Su by Hwang, gives a sneak peek into the higher stakes of Season 3 and the overall direction the story will likely take after the events of Season 2.

The mid-credits scene hints at some important developments in Season 3, which will bring the story to an end. After Gi-hun’s failed attempts at staging a coup in the Season 2 finale, the mid-credits scene establishes that the games will continue in Season 3 and the players will fight for their lives in an improved version of the Red Light, Green Light game. With Gi-hun being the only survivor from his crew, and a majority of the players who had voted against the continuation of the games being dead after the riot in the finale, the next round of votes would result in the majority voting for the games to resume.

Clearly, Gi-hun has failed in his mission, at least for now, and In-ho has managed to steal a clear victory over Gi-hun. In-ho's decision to spare Gi-hun only shows his renewed confidence after spending much of the season by Gi-hun's side as a trusted member of Gi-hun's inner circle during the games.

'Squid Game' Season 2's Mid-Credits Scene Hints at the Future of the Show

As creator Hwang revealed to Entertainment Weekly in 2022, the introduction of Young-hee’s boyfriend, Cheol-su, in the mid-credits scene teases the most exciting game in Season 3. Earlier in Season 2, Gi-hun uses his experience to save a majority of the players from the laser-eyed Young-hee. Knowing that Young-hee can only track movements from the front, Gi-hun instructs the other players to form a single file and hide behind "bigger" players ahead of them to make it out of the game alive. In-ho, who has not only seen Gi-hun from a distance but has also closely observed him after infiltrating his inner circle, knows exactly how Gi-hun functions.

It’s not a surprise that In-ho might just be confident enough to have the players play the same game again and see how Gi-hun survives this situation once more. The presence of two dolls implies that a greater number of fatalities is possible, now that the second doll can track movements from behind. With Red Light, Green Light being one of the most simple yet deadly games in Squid Game, this peek into an improved version of the game makes absolute sense from the perspective of hyping up the final season, which is set to premiere sometime this year. It also confirms that the series will stick to the basics while experimenting with new possibilities.

It's likely that Gi-hun will find himself playing the games again in Season 3 when the show returns. Much like what In-ho tries to establish through his actions in the Season 2 finale, the mid-credits scene cements the fact that the house will always win, no matter how many innocent lives are lost in the process. While Season 2's ending feels a bit short of its promise, considering that the story does not develop much from where it started, and the dial has been reset with Gi-hun still in a very helpless situation, the mid-credits scene in the finale kicks things off for what will eventually be the series' endgame in Season 3. Gi-hun does not have many allies by his side, and In-ho has placed himself in the shoes of the Front Man again, doing what he does best. It remains to be seen whether Season 3 will live up to the expectations set up by the mid-credits scene, which hints at a darker and gruesome fate for every player who still lives at the end of Season 2.

Squid Game Seasons 1 and 2 are available to stream on Netflix.

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