Squid Game Season 3 Finale Sparks Intense Fan Theories About Player 456's Fate

Squid Game's highly anticipated third and final season premiered on June 27, 2025, bringing the popular survival drama to a close. The series, starring Lee Jung-Jae, Lee Byung-Hun, and other Korean actors, has captivated audiences worldwide with its intense and thought-provoking storylines.

However, the final season has received a mixed response from viewers. Many fans expressed their dislike for the show's decision to have the baby (Player 222, played by Jo Yu-Ri) emerge as the winner of the final round of games. Others criticized the creators for killing off the main characters while keeping less important ones alive until the end.

Despite the divisive reactions, one particular fan theory has gained significant traction on social media. Several Squid Game fan accounts have been sharing their belief that Player 456, also known as Seong Gi-Hun (played by Jung-Jae), may still be alive. The theory suggests that the mysterious person who went to the hotel at the end of the last episode to withdraw money was none other than Seong Gi-Hun himself, based on the similarities in his walking posture.

The fan theory also points to other clues, such as the fact that only Seong Gi-Hun and the gangster lackey knew the location of the hidden money. Additionally, the theory claims that Seong Gi-Hun's eyes were slightly open when he chose to commit suicide, and there were tears in his eyes when the island detonated, suggesting he may have been watching the events unfold from afar.

As the dust settles on Squid Game's final season, fans continue to debate and speculate about the fate of their beloved characters, particularly Player 456. Only time will tell whether these fan theories hold any truth, but one thing is certain: the Squid Game phenomenon has left an indelible mark on the entertainment landscape.