Squid Game Season 3 Main Theories: New Games & 149's True Identity

Squid Game Season 3 Main Theories: New Games & 149's True Identity
Image credit: Netflix

The third season has many surprises in store for viewers.

At the end of December, the second season of Squid Game was released on Netflix. In 2021, the show became a hit on the streaming platform, attracting hundreds of millions of viewers.

As is often the case, the second season did not break the record set by the first season. However, the writer and director, Hwang Dong-hyuk, is not going to stop there – Netflix is preparing to release the third season, which is scheduled to premiere in mid-2025.

And while the whole world waits for the continuation of Squid Game, we have collected all the main theories about the third season.

New Games in the Third Season

Season 2 teased three new games: Human Chess, Monkey Bars, and Jack and Jill.

In Human Chess, contestants are divided into two groups: Black and White. Each group will have a leader who will be tasked with managing the process, while the rest of the players will take up positions as pieces on the chessboard.

Human Chess will be similar to traditional chess, with one exception: the elimination of a piece means the actual death of the participant.

Monkey Bars is a game in which participants must move between equally spaced horizontal bars, holding on to them only with their hands, without touching the ground. Monkey Bars may be the deadliest game of the season, as it requires a great deal of physical strength.

Jack and Jill will most likely replace Red Light, Green Light in the new season. Contestants must gather at the bottom of a hill and roll a colored dice – the color that appears on the dice determines a person's place on the court.

During the game, participants use a spinner that tells them what to do next. Every wrong move is punished by the giant puppet. The winner is the first to reach the top of the hill.

Player 149 Didn't Just Show Up in the Games for No Reason

An interesting theory is that Jang Geum-ja, the sweet old lady, is actually a shadow character who will be revealed. Jang Geum-ja, who came to the competition with her son Yong-sik, might be the boss of player 001. This is the reason why In-ho saved her during the merry-go-round challenge.

Furthermore, Jang Geum-ja is the only contestant in the competition who has no chance of reaching the finals.

She comes to the game to support her son who is in debt, but in reality Jang Geum-ja often drags him down. However, the show's organizers allow her to bring a knife, which is not allowed by the rules. Some people are convinced that Jang Geum-ja is the wife of player 001 from the first season.

A Major Character May Return in Season 3

One of the most popular theories is that the father of the girl with leukemia, Park Gyeong-seok, is still alive. In the second season finale, the rebels run out of ammunition and fall into the hands of the guards.

The first commits suicide, and the second is shot at close range. Gyeong-seok tries to make the guards feel sorry for him, but his fate seems to be predetermined. But the show does not give the audience an obvious answer – instead, the camera cuts to another scene.

It is possible that behind the mask of the guard who approached Gyeong-seok was No-eul, a refugee from North Korea who recently received her position. Considering that No-eul herself is trying to regain custody of her baby, Gyeong-seok's story could not leave her with a cold heart.

No-eul could have saved Gyeong-seok in the second season finale – maybe she wounded him, but not fatally, or used blanks.