5 Shocking Ways Squid Game 2’s Ending Will Change Gi-hun Forever: The Final Confrontation Explained

The wait for Squid Game Season 2 has generated a fever pitch of speculation, and as of December 2025, the most intense focus is on the rumored, highly controversial ending. The central question remains: Will Seong Gi-hun, the winner of the first deadly tournament, succeed in his mission to dismantle the horrifying global operation, or will he be forced back into the games as a player or, worse, a guard? The creator, Hwang Dong-hyuk, has been notoriously secretive, but recent detailed "leaks"—which some critics believe are a misinterpretation of early drafts or fan fiction—have painted a devastating picture of the final episodes, suggesting a cliffhanger that immediately sets the stage for a potential Season 3.

The finale is poised to be a brutal clash of ideologies, pitting Gi-hun's righteous anger against the calculated cynicism of The Front Man and the wealthy, unseen VIPs who orchestrate the entire spectacle. While core cast members are confirmed to return, the alleged plot points circulating online suggest a finale far darker and more complex than a simple victory, involving shocking character deaths and an internal rebellion that rips the game's structure apart. The true ending, whether a tragic loss or a Pyrrhic victory, is set to redefine the moral landscape of the entire K-Drama phenomenon.

The Confirmed Cast and The Core Conflict: Profiles of the Returnees

Before diving into the explosive ending theories, it is crucial to establish the confirmed players in this new, high-stakes game. The return of these key figures solidifies the narrative focus on revenge, redemption, and the cyclical nature of the deadly tournament.

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• Seong Gi-hun (Lee Jung-jae): The protagonist and Season 1 winner (Player 456). Gi-hun's return is motivated by his refusal to board the plane to see his daughter, instead choosing to challenge the creators of the games. His mission is to expose and stop the operation, moving him from a desperate player to a revolutionary.
• Hwang In-ho / The Front Man (Lee Byung-hun): The mysterious, masked overseer of the games and the older brother of Jun-ho. His role is expected to expand, detailing his own journey from a former winner to the cold, calculating leader. The final confrontation between him and Gi-hun is inevitable.
• Hwang Jun-ho (Wi Ha-jun): The police officer who infiltrated the games in Season 1. Although he was shot by his brother, The Front Man, his return is confirmed. Rumors suggest he wakes from a coma, bringing critical outside knowledge to Gi-hun’s fight, though his fate remains one of the biggest question marks.
• The Salesman (Gong Yoo): The recruiter who uses the game of Ddakji to lure new, desperate players. His brief but chilling return confirms the continued recruitment process and the expansion of the games' reach.

New cast members, including Yim Si Wan (as Lee Myeong Gi / "No. 333"), Choi Seung-hyun (rumored as "Thanos"), and Roh Jae-won (rumored as "Nam-gyu"), suggest a fresh batch of players and potential allies or antagonists for Gi-hun within the new tournament.

The Controversial Leaks: 3 Ways Gi-hun Allegedly Fails

The most recent and debated plot points suggest that Gi-hun's attempt to destroy the games from the inside does not go as planned, leading to a devastating finale that challenges his moral code and the audience's hope for a clean victory. These unverified spoilers are the subject of intense fan discussion as the most current "ending" information available.

1. The Loss of a Key Ally: Jung-bae's Devastating Death

One of the most shocking rumored plot points is the death of a new character, Jung-bae, allegedly at the hands of The Front Man. This event is cited as "Gi-hun's devastating loss" and the major cliffhanger that concludes the season. This loss would serve as a brutal reminder that even with foreknowledge, the games' ruthless power cannot be easily overcome. This alleged finale suggests Gi-hun fails to save the new batch of players, forcing him to confront the limits of his own heroism.

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2. The Failed Rebellion and the Bathroom Fight

The leaks detail an internal rebellion where Gi-hun attempts to convince other players to join him in fighting the "wealthy overlords." The beginning of this revolt is allegedly a violent confrontation in the bathroom after two players, "Thanos" and "Nam-gyu," are caught. The plot suggests Gi-hun and his allies succeed in stealing the guards' guns, leading to a full-scale, violent night of chaos. However, the fact that the season allegedly ends with Gi-hun's "devastating loss" implies the rebellion is ultimately crushed by the organized power of The Front Man and his forces, or that the violence itself corrupts Gi-hun's mission.

3. The Front Man’s Unstoppable Power and Jun-ho’s Fate

The ending, as described in the leaks, reinforces The Front Man's near-invincibility. The alleged return of Hwang Jun-ho, who wakes from a coma and remembers his confrontation with his brother, is a major plot point. However, the season's end reportedly sees the game's structure remaining intact, with the creator, Hwang Dong-hyuk, confirming that the storyline will continue—a strong indicator that Gi-hun does not achieve his goal of shutting down the operation permanently. The cliffhanger is designed to leave Gi-hun in a state of moral and physical defeat, setting up a much larger, global conflict for Season 3.

The Thematic Ending: Gi-hun’s Choice and The Future of the Games

Regardless of the specific plot mechanics—whether the final game is a new version of Ddakji, a twisted take on the Glass Bridge, or a direct shootout—the true ending of Squid Game 2 will be thematic, revolving around Gi-hun's ultimate choice. This is the element of topical authority that will define the series' legacy.

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The Moral Crossroads: Becoming The Front Man

The most compelling theory is that Gi-hun's mission of destruction will fail, but his success will be his refusal to be corrupted. The creator previously revealed an alternate ending for Season 1 where Gi-hun simply boarded the plane, choosing his family over his revenge. His current choice to turn back is a commitment to fight. The Season 2 finale is expected to test this commitment by offering him a terrifying alternative: the chance to take over the games. Will he be offered the role of The Front Man, replacing Hwang In-ho, or perhaps a higher role among the VIPs? His rejection of this power, even in defeat, would be his true victory.

The VIPs and Global Expansion

Season 1 only offered a glimpse of the VIPs, the wealthy clientele who bet on the players. The ending of Season 2 must expand this world, showing that the games are not a localized phenomenon but a global network of depravity. If Gi-hun’s rebellion is crushed, the finale will likely show the VIPs escaping justice or moving the games to a new, undisclosed location, making the fight an international one. This ensures the survival of the concept for a potential Season 3, shifting the focus from a single island to a worldwide manhunt for the organizers.

Setting Up Season 3: The End of the Beginning

Hwang Dong-hyuk has stated he had no intention of doing a second season, making the process "challenging," but the show's success necessitated it. The alleged cliffhanger ending, where the storyline is confirmed to continue, is a deliberate narrative device. The true ending of Season 2 is likely not a conclusion at all, but a transition. It will establish the new dynamic: Gi-hun, now an international fugitive or a lone wolf, versus the entire global organization of the games, led by The Front Man and the elusive VIPs. The finale will be a statement that the game is bigger than any single winner or player, ensuring that the morbid fascination and the fight for justice continue into the next installment.