Netflix has unveiled the first teaser trailer for Squid Game Season 3, and it’s already setting the internet ablaze. The clip surpassed 1 million views within just 15 hours of release, fueling anticipation for the latest installment of the record-breaking Korean series.
Season 3 will follow Seong Gi-hun (Lee Jung-jae) as he re-enters the deadly game, consumed by rage after losing a close friend. The story also delves into the mysterious identity of the Front Man (Lee Byung-hun) and the fates of the final surviving contestants.
💸 A Billion-Won Production
The combined production cost for Seasons 2 and 3 is reported to be a staggering ₩100 billion KRW—excluding actor fees—making it the most expensive Korean drama ever produced. For comparison, Disney+’s Moving cost ₩65 billion, while Netflix’s When Life Gives You Tangerines had a ₩60 billion budget.
🩸 A Haunting Glimpse Into the Game’s Final Chapter
The teaser poster, released on May 6, shows Gi-hun standing among pink-ribboned coffins, his eyes burning with grief and vengeance. A caption reads: “The final game for ₩45.6 billion”—a nod to the series’ central prize.
The trailer begins with a Pink Guard carrying a coffin into the dormitory. As mystery builds over who’s inside, Gi-hun opens his eyes, marking the start of the final chapter. Contestants are seen picking balls of two different colors, navigating maze-like spaces, and preparing for a feast—hinting that the game is entering its endgame phase.
Detective Jun-ho (Wi Ha-jun) is closing in on the game’s location, while newcomer No-eul (Park Gyu-young) watches the arena alone. A baby’s cry in front of Jun-hee (Jo Yu-ri) foreshadows shocking turns. Gi-hun appears sobbing while restrained, contrasting with the composed demeanor of the Front Man—who has evolved from former player to game master.
⚔️ Who Will Survive?
Survivors Myung-gi (Im Si-wan), Dae-ho (Kang Ha-neul), Hyun-joo (Park Sung-hoon), Yong-sik (Yang Dong-geun), Geum-ja (Kang Ae-shim), Jun-hee, Sun-nyeo (Chae Gook-hee), Min-soo (Lee Da-wit), and Nam-gyu (Noh Jae-won) are all shown enduring increasingly brutal trials.
A still of Jun-ho breathing heavily by the sea, oxygen tank on his back, suggests he’s reached the island. Meanwhile, No-eul appears unmasked in a confrontation, raising questions about her next move. Contestants gathered in front of a door marked with a keyhole and dagger symbol tease the looming final showdown.
🌐 “No Lines, Still Chilling”—Fans React
The teaser quickly ignited buzz online, with fans flooding the comments: “That teaser gave me chills—no dialogue, just pure intensity,” one wrote. Others praised the visual detail, saying, “The level of detail is unreal,” and “Gi-hun’s face alone says everything.” The anticipation was palpable, with comments like “How are we supposed to wait until June?” and “The ending cry… perfection.” Some speculated about the story: “Money’s piling up again… More sacrifices incoming,” and “Who's in that coffin? My guess: Cheol-su!”
🏆 From Global Phenomenon to Final Chapter
Squid Game, which centers on contestants risking their lives for a ₩45.6 billion prize, became Netflix’s most-watched series following its 2021 debut. Lee Jung-jae made history by winning Best Actor at the Primetime Emmy Awards, with the show taking home six trophies in total.
While Season 2 divided opinions after its December 2024 release, it still managed to rank No. 1 globally.
📅 Squid Game Season 3 will officially premiere on June 27, 2025.