Squid Game creator Hwang Dong-hyuk says if a spin-off does happen, it'll explain what happened in between season 1 and 2.
"If I make [a] spin off, it will be a story happening between Season 1 and 2. There [was] a three years gap between Season 1 and 2," Dong-hyuk told IndieWire. "So, I want to show what they did for those times."
Season 2 takes place three years after the events of Squid Game season 2, after Gi-hun (Lee Jung-jae) won the game. We don't know what happened during those three years, but we do know that he gave up on going to the United States and instead decided to return to the games in order to try and stop them once and for all.
The third and final season sees Gi-hun return yet again alongside a slew of new players, and this time the games are even deadlier. The trailer aired at Netflix's annual Tudum event, showing two particularly chilling scenes where we see the Front Man (Lee Byung-hun) unmask himself and Gi-hun in a tuxedo, suggesting he's won again.