5 Harrowing True Stories That Prove Squid Game Is More Real Than You Think

Despite the shocking violence and dystopian premise, the question of "Is Squid Game based on a true story?" continues to be one of the most searched queries about the Netflix phenomenon. The short answer, as of today, December 13, 2025, is no—no actual death game where 456 indebted contestants compete for a 45.6 billion won prize has ever taken place. However, dismissing the show as pure fiction misses the entire point, as creator Hwang Dong-hyuk has repeatedly confirmed the series is a brutal, metaphorical mirror reflecting very real, deeply painful social and economic realities in South Korea.

The global hit is not a historical account, but a powerful, visceral critique of capitalism, economic inequality, and the crushing weight of personal debt that has driven millions to desperation. The true story of Squid Game lies not in the fictional games themselves, but in the harrowing real-life events and systemic crises that provided the terrifying foundation for every single character's motivation.

The Creator: Hwang Dong-hyuk's Biography and Personal Inspiration

The genesis of Squid Game is inextricably linked to the personal and professional life of its writer and director, Hwang Dong-hyuk. His own struggles and observations of South Korean society over two decades fueled the script, which he first drafted in 2009.

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• Full Name: Hwang Dong-hyuk (황동혁)
• Born: May 26, 1971
• Birthplace: Seoul, South Korea
• Education: Graduated from Seoul National University (SNU) with a B.A. in Communications. He later earned an M.F.A. in Film Production from the University of Southern California (USC).
• Early Career: Began his career directing short films.
• Notable Films: He is known for writing and directing critically acclaimed films such as the crime drama Silenced (2011), the comedy-drama Miss Granny (2014), and the historical war film The Fortress (2017).
• Personal Struggles: Hwang Dong-hyuk has admitted to struggling financially early in his career, even having to sell his laptop to cover debts, a situation that directly mirrored the desperation of his fictional characters like Seong Gi-hun and Cho Sang-woo.
• Major Accolades: Won the Primetime Emmy Award for Outstanding Directing for a Drama Series in 2022 for Squid Game.

The Economic Crisis That Created the Contestants

Every single contestant in the game, from the protagonist Seong Gi-hun (Player 456) to the villainous Cho Sang-woo (Player 218), represents a victim of South Korea's unforgiving economic landscape. The show is a direct commentary on the nation's crippling personal debt crisis and the long-term impact of major financial shocks.

1. The Shadow of the 1997 IMF Crisis

The show's deep-rooted despair can be traced back to the 1997 Asian Financial Crisis, often referred to in South Korea as the "IMF Crisis." This catastrophic event led to a massive dollar shortage, forcing the government to accept a bailout from the International Monetary Fund (IMF).

The IMF-mandated reforms led to widespread corporate restructuring, mass layoffs, and a fundamental shift in South Korea's labor laws, making it easier for companies to fire workers. This period of national trauma resulted in thousands of bankruptcies and suicides, shattering the lifelong employment model and creating a permanent underclass of heavily indebted citizens. The contestants are the children of this crisis, unable to escape the cycle of debt decades later.

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2. Gi-hun's Backstory: The Ssangyong Motor Strike

The most specific and harrowing "true story" behind a character is that of Seong Gi-hun. His backstory as a laid-off worker who participated in a violent labor strike is directly inspired by the 2009 Ssangyong Motor Strike.

The Ssangyong Motor Company laid off thousands of workers, leading to a 77-day occupation of the factory by union members. The protest turned violent when police and private security forces moved in, resulting in significant injuries and social division. Hwang Dong-hyuk specifically used this event to ground Gi-hun's character in a real-life tragedy, highlighting how corporate greed and labor disputes can destroy an individual's life and family.

3. Ali Abdul and Racial Discrimination

The character of Ali Abdul (Player 199), the Pakistani migrant worker who is cruelly cheated out of his wages by his Korean employer, is a stark representation of the exploitation faced by foreign workers in South Korea. Hwang Dong-hyuk has cited his own observations of racial discrimination and the precarious legal status of migrant laborers as the basis for Ali's storyline. This element adds a layer of social commentary on how the most vulnerable in society are often the first to be victimized by systemic failures and predatory practices.

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The Real-Life Origins of the Children's Games

While the deadly stakes are fictional, the games themselves are authentic, nostalgic elements of a South Korean childhood, which only heightens the show's dark irony. The use of these innocent pastimes—from *Ddakji* to *Ojingŏ*—serves as a cruel contrast to the brutal adult reality of the survival game.

• Ddakji (Ttakji): The very first game Gi-hun plays with the Salesman (Gong Yoo) is a tile-flipping game, similar to the American game Pogs. This game of chance and skill is a common sight in Korean childhoods, but in the show, it is the first step toward a deadly contract.
• Red Light, Green Light: Known as *Mugunghwa Kkochi Pieot Seumnida* (The Mugunghwa Flower Has Bloomed), this simple game of movement and freezing is a staple. The show's robotic, hyper-violent interpretation turns a harmless memory into a terrifying slaughter.
• Dalgona (Ppopgi) Challenge: The honeycomb candy game, where players must carve a shape out of a brittle sugar treat, is a real street food challenge. In real life, vendors sometimes offered a second free piece (*bbopgi*) if a child successfully removed the shape, but in the show, the penalty is instant death.
• Marbles: The game of Marbles is a universal children's game, but its use in the show is perhaps the most emotionally devastating, forcing players to betray their closest allies.
• The Squid Game (Ojingŏ): The final, titular game is a real tag-like children's game played on a court drawn in the sand, resembling a squid. It is a rough, physical game that serves as a perfect metaphor for the ultimate, violent struggle for survival in a winner-take-all society.

The Universal Truth: A Critique of Global Capitalism

Ultimately, the answer to "is Squid Game based on a true story" lies in its universal message. The show’s creator used the specific anxieties of South Korea—the crippling debt, the economic disparity between the wealthy elite of Gangnam (where Sang-woo is from) and the working class (like Gi-hun), and the constant struggle for social mobility—to create a story that resonates worldwide.

The series is a powerful allegory for modern capitalism itself, where the rules of the game are technically fair (everyone has an equal chance), but the circumstances that force people to play (crushing debt, lack of opportunity) are anything but. The contestants willingly return to the game because the outside world, a society where they are constantly exploited and judged, is arguably more hopeless than the deadly island.

The show’s true horror is the realization that the fictional death games are merely an exaggerated version of the competitive, unforgiving "survival game" that millions of people are forced to play every day just to stay financially afloat. The true story is the global reality of economic inequality.