Will there be Squid Game season 4? Season 3 end credits explained as fans speculate an American version release 

The third chapter of Squid Game dropped on June 27, 2025, picking up right after where season 2 concluded. Seong Gi-hun (Lee Jung-jae), tagged as Player 456, returns once again. His aim this season is to take down the system behind the violent games.

Speaking to The Guardian, series creator Hwang Dong-hyuk had noted that the narrative wouldn’t conclude with a "happy ending." The conclusion echoes that comment.

In the final scene, Hollywood actress Cate Blanchett shows up briefly as an American version of the Ddakji recruiter (earlier played by Gong Yoo). The scene mirrors the same envelope-slapping game used to lure new participants.

The appearance has sparked guesses about what’s next, especially since Hwang confirmed to The Korea Times that there won’t be a season 4.

"Cate blanchett showing up in the squid game finale for a cameo that sets up another installment," an X user commented.

Although this season was promoted as the series’ final stretch, Blanchett’s cameo has led many to think a U.S. spin-off may be in the pipeline.

"God damn cate blanchett, i won’t be surprise if they make a US ver," a fan remarked. "Excuse me??? No one can convince me that there's nothing going to be a spin off. They could use anybody for this scene but it's CATE BLANCHETT?? #SquidGame," a user mentioned. "Serious note it's actually genius the way the teased the American Squid Game. I'm a bit hype though," a person shared.

Others expressed disappointment over the potential spin-off idea.

"But why won’t they use American games to play? How Americans would know how to play Korean game lol it’s so cringe and stupid," a netizen said. "Omfg.. they're gonna do a sloppy american version with sh*t american directors and famous american actors like chris pratt arent they.... i hate ts," a viewer noted. "In my opinion, this ending s*cked and felt like a cash grab for an american squid game," another fan added.

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A Western Squid Game version is reportedly in the works

According to Deadline, a U.S. version of the series is under development following the finale of the Korean version. Since 2023, there’s been ongoing talk about director David Fincher being attached to a Western remake.

Hwang Dong-hyuk has also shared ideas for spin-offs recently. Speaking in the Squid Game in Conversation, the filmmaker asserted (via What's on Netflix):

“In this story, Squid Game is hosted by a specific group of people, but it serves as a metaphor for the real world, where capitalism fuels relentless competition. So until that ends, the game will not end."

Hwang continued:

"The game in Korea ended (spoiler) with Gi-hun’s sacrifice, but I wanted to show that the game was still ongoing elsewhere and that the world had not changed that much. We wanted to say: this isn’t really over. Plus, if it was totally wrapped up, our fans would be sad, and we wouldn’t have a reason to come back.”

However, Netflix has yet to make any official announcement.

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All installments of Squid Game are now live for viewers to stream on Netflix.

Edited by Riya Peter