While Gi-hun's (played by Lee Jung-jae) story has come to an end, In-ho (the Front Man, played by Lee Byung-hun) is still very much in the universe. In an interview with Radio Times in July 2025, the actor openly said that diving into In-ho's story would be a "no-brainer" because the fans want more, and there's still more story to tell with him:

The third and final season of Squid Game is a cynical look at humanity, with a surprisingly hopeful ending—here’s the season 3 finale, explained.

The streamer has renewed Squid Game: The Challenge for a third season, matching (for the moment) the number of seasons for the Korean blockbuster on which it’s based. Netflix has also set a Nov. 4 premiere date for season two of the competition.