Squid Game Season 2: Top Plot Theories That Can Happen
Squid Game Season 2: Top Plot Theories That Can Happen

Despite how Squid Game ended, there are lots of ways for the story to continue in Squid Game season 2, with or without the existing characters.

Top 10 Most Intriguing Conspiracy Theories for Squid Game Season 2:

1.Oh Il-nam Could Still Be Alive

Squid Game Season 2: Top Conspiracy Theories That Can Happen
Oh Il-nam Could Still Be Alive?

The Netflix survival drama Squid Game concluded with Oh Il-nam (Oh Young-soo), who was revealed to be the man behind the games, dying while protagonist Seong Gi-hun (Lee Jung-jae) watches on – but this doesn’t mean that there won’t be a season 2

When Gi-hun meets Oh Il-nam (Oh Young-soo) on his deathbed, Il-nam reveals that he’s actually a billionaire, and that he founded and financed the games on the island.

During the red light-green light game, when the players were scanned by the doll to detect movement, it skips the old man, maybe an indication of how he wasn't a real player.

2.Gi-hun died his hair red, go back to the Squid Game as a worker

The final episode sees Seong Gi-hun having dyed his hair red after winning the games and collecting his prize money.

While this could just be a cinematic decision to show the once affable and happy-go-lucky character is now a changed man having seen so many people, including his friends, die, others believe that this is a piece of foreshadowing; Seong Gi-hun has chosen ‘red’ and will return as a masked guard to take the games down from the inside. It’s a bit of a stretch, but we do end the series with Seong Gi-hun determined to track down whoever is still allowing the games to continue – so maybe those suggesting this theory are on to something.

Speaking of the whole red and blue symbolism theory, it seems like Gi-hun’s decision to die his hair red at the end of the game might foreshadow the fact he’ll sneak into the games as a worker to destroy it from the inside in the second season.

3. Sang-woo still be Alive

We can already guess the fate of some of our prominent players in the games just by looking at how they behaved on the outside world, as many of their actions poetically suggest how they all die.

Sang-woo kill himself at the end of the games and was planning on doing so before being pulled back into the competition in episode two.

4.Ali Can Return For Season 2

Squid Game Season 2: Top Conspiracy Theories That Can Happen

Player 199 in Squid Game is one of the best, but is Abdul Ali alive following the games, and is there any chance for him to return in Squid Game season 2?

Viewers will certainly be rooting for Ali throughout Squid Game, but the Pakistan native suffers a heartbreaking conclusion to his story. While Squid Game cutting away from Ali's death may have led to fans hoping he was still alive, the shot of him in a casket should be seen as confirmation that he died. The only explanation for Ali still being alive after this that Squid Game could provide would require major retcons. Without the shot of him in the casket, there was the chance that Ali survived somehow. Squid Game already pulled a fake-out death with player 001/Oh Il-nam, so Ali's presumed death also could've been reversed if the show left his fate somewhat ambiguous.

Squid Game confirming that Ali died following the marble games likely means that he won't return in season 2. As disappointing as it might be, Ali likely won't be in Squid Game season 2 since his story is already concluded. However, Gi-Hun can at least avenge his death and those of the other players in season 2.

The workers forced to work their way out of their debt?

If the red and blue card theory ends up being true, it might be that workers are paid out of their debt if they work. It could explain why there are so many workers, why they live in such shitty conditions, why one of them was a kid, and why some of them were desperate enough to sell players’ organs for cash.

5.The Hot Cop Hwang Jun-Ho Could Still Be Alive

Squid Game Season 2: Top Conspiracy Theories That Can Happen
Hwang Jun-Ho Could Still Be Alive

Jun-ho, the largest threat to the continuation of the games, is presumed dead when he is shot by In-ho in the shoulder and falls into the sea.

However, the shot isn’t fatal, and his corpse is never shown onscreen. Also, neither In-ho nor his workers was shown making sure that Jun-ho is actually dead. While the final scene confirms that Squid Game is back in full swing, this doesn’t necessarily mean that Jun-ho is dead and that his neo-noir detective story is over. If the evidence he gathered for the police was swept under the rug, Jun-ho could already be planning his next move – and he might even team up with Gi-hun in Squid Game season 2.

We saw this when Mi-nyeo was taken away by guards after not finding a partner in the fourth game and then showed up later as a contestant for the fifth round. And, it’s highly likely we’ll see this with Hwang Jun-ho (Wi Ha-joon).

It also wouldn’t make sense for Jun-ho to die when we’ve yet to explore his relationship with his brother, the Front Man, which brings us next theory.

Gangster Jang Deok-su Died or Alive?

Gangster Jang Deok-su died after falling in the Glass Bridge game, which is how he fled from those chasing him. North Korean defector Sae-byeok has her throat slit in the final game, which was how she threatened her scammer on the outside world.

6.The Front Man Will be Top Leader?

The death of Il-nam creates a power vacuum in the Squid Game universe. However, there will be no shortage of VIPs vying for the top spot in the organization that Il-nam left behind. Similar to James Wan’s Saw movies, someone else could take up the mantle of the boss. And if it’s not the Front Man, also known as In-ho, a new character could be introduced to take on the role of boss in Squid Game season 2.

After all, as Gi-hun himself learned during the ending, the death of one man isn’t enough to stop the long-term operations of Squid Game.

7.A familial relationship between Gi-Hun and Il-Nam?

When Gi-Hun speaks about milk, Il-Nam predicts that he was spanked a lot as a kid, and Gi-Hun is surprised that he knows. When Gi-Hun and Il-Nam go to the mock-up of where they used to stay, they share the area as being similar to their own homes in the past. The fact that Il-Nam cares more so for Gi-Hun as compared to anyone else in the game.

Seong Gi-hun has an instant rapport and bond with elderly contestant Oh Il-nam, or contestant 001, but some have pointed towards clues that the pair’s friendship stems from familial ties. After all, we see Seong Gi-hun at home with his mother, but there’s no mention or discussion to his father at all.

There are clues woven throughout the narrative that the pair are related – a scene which saw Seong Gi-Hun ask the unimpressed guards for chocolate milk saw Oh Il-nam chuckle that his son was “similar”. Another scene sees the pair discuss the similarities between the set design of one of the games to their neighbourhoods growing up, again leading many to suggest that the old man fathered Seong Gi-hun.

The show’s twist, which reveals that Oh Il-nam was a game VIP who helped create the challenges, has led many to claim that the whole tournament was devised by Oh Il-nam to find his lost son, especially when he gives Seong Gi-hun his jacket ‘to protect him’ in the games and adds it was “fun to play with him”. Are the tournaments all a ruse for a father and son to have the childhood fun they never could?

8.Squid Game season 2 goes international

A small but interesting detail that could provide more clues about season 2 is when one of the VIPs remarked that the games in Korea are the best this year. This implies that other versions of Squid Game are happening in other places in the world. Focusing on a version of the games set elsewhere would be a great opportunity for Squid Game to expand on its themes of wealth inequality, but with children’s games from a different place and culture. And much like season 1, this could also allow showrunners to introduce a whole new cast of niche actors to Squid Game, but from a different country’s roster of talents.

Furthermore, if Squid Game season 2 goes international, showrunners could also opt for a setting that’s very different, yet even more secretive and menacing, than season 1’s island.

9.Seong Gi-hun’s ex-wife’s new husband is involved in the Squid Game

This theory may be a stretch, but some viewers believe Seong Gi-hun’s ex-wife’s new husband is involved in the games. Why? Well, there are a few clues.

The man is clearly not short of money, easily handing over the cash for Seong Gi-hun’s mother’s surgery, but there’s also a mean and vindictive streak in him, as he insists that Seong Gi-hun exits their lives for good.

It’s clear that whoever is in charge of the games can speak English, as we hear them talking to someone, and, with the family moving to America for work, it’s likely he’s fluent. Could he really be the mastermind, or at least involved? It’s not likely, but Squid Game has shown anything is possible.

10.Facts about the 14 players who didn’t return to the games?

Top 10 Intriguing Conspiracy Theories for Squid Game Season 2

After the games are cancelled following the first vote, most players return to play as they all become increasingly desperate for money. However, 14 choose not to come back because they didn’t want to put their lives at risk. Fair enough.

We see Front Man telling the other guards to keep an eye on those who didn’t return – but what could he have meant by that?

Well, one theory is that these 14 people will be given the opportunity to pay their debts as a red worker.

The workers are, for the most part, safe from harm, as long as they obey the rules (and avoid antagonising contestants).

It would also serve as a surefire way to prevent them from leaking their knowledge of the games to the outside world.

If we look at the 14 contestants who didn’t return to this game, alongside former contestants who hadn’t returned to previous years, it would mean there’s over 100 players who are roaming around – which is similar to the number of armed guards.

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