What happens in the ending of Squid Game?
Quick Answer
In the ending of Squid Game, Gi-hun (Seong Gi-hun) wins the final game and survives, but learns that the masked Front Man is his father, while his childhood friend Cho Sang-woo dies. Gi-hun returns home to his son, but the series closes with him receiving a call from the VIPs who orchestrated the games, setting up a potential second season.
Explanation
The first season of Squid Game concludes with Gi-hun (played by Lee Jung-jae) surviving the deadly games and emerging as the sole winner of the ₩45.6 billion prize after defeating Il-nam (played by Lee Byung-hun) in the final Squid Game match. However, the victory is bittersweet as Gi-hun learns that his close friend Cho Sang-woo (Park Hae-soo) has died, and he discovers that the mysterious masked Front Man overseeing the games is actually his own father, a revelation that adds personal tragedy to Gi-hun's triumph. After his victory, Gi-hun returns to his estranged son, attempting to rebuild his life and mend his relationship with his family. The series ends on an ambiguous note when Gi-hun receives a phone call from one of the wealthy VIPs who have been watching the games for entertainment, suggesting that the deadly contest may continue and that Gi-hun will likely be involved in future games, thus establishing the setup for Season 2.