Speaking recently, its creator Hwang Dong-hyuk said that he wasn't so sure.
He then went on to describe the new episodes as "crazy, insane, nuts", before sharing his continued disbelief at just how wildly popular the show has become.
"I've been through a lot of things – good times and bad times, criticism and praise – I hope I can have a best memory out of [launching] this season finale."
Yet, that hasn’t stopped its lead Lee Jung-jae from hoping for more.
But for the time being, it's all eyes on the final season, which contains "so many twists and turns".
"I was so curious about what choices these characters are going to make. It is full of things you would not expect. There are going to be lots of changes and transformations, and a lot of different characters from season 2 to season 3."
The truth is that nothing had prior to the show's release, but the years since have seen Netflix's Squid Game: The Challenge and Physical 100 present non-lethal variants of the concept.
The trend brings to mind a viral tweet from a few years ago, in which X (then-Twitter) user Alex Blechman drew attention to our regrettable habit of recreating things from fiction that were intended to be "cautionary tales".
Besides the Squid Game-style reality shows that have sprouted up since the original series premiered, some viewers have been seeking evidence that the Netflix series was directly inspired by true events.
Connections have also been implied between the events of Squid Game and a real scandal from South Korean history regarding an internment camp named Brothers' Home.
Below, you can find information about the false claims regarding the Squid Game true story and Hwang Dong-hyuk's statements on the real-life incidents that did spark his imagination when writing the series.
Is Squid Game based on a true story?
Creator Hwang Dong-hyuk previously said that he drew his inspiration from Japanese manga and anime.
"I came to wonder how I'd feel if I took part in the games myself. But I found the games too complex, and for my own work focused instead on using kids' games."
As for the show's broader themes of survival, Dong-hyuk was inspired by his own financial struggles and wanted to write an allegory about modern capitalist society and the competition it encourages.
"As a survival game it is entertainment and human drama," continued Hwang. "The games portrayed are extremely simple and easy to understand. That allows viewers to focus on the characters, rather than being distracted by trying to interpret the rules."
Dong-hyuk revealed Gi-hun's struggle was inspired by the real-life organisation Ssangyong Motor Company, which announced a massive lay-off of over 2,600 workers back in 2009, which then led to a 77-day strike.
In general, Squid Game could be considered ripped from the headlines to some extent, as South Korea is currently in the midst of a crushing personal debt crisis which is reflected by the show's 456 players – each of whom is in a dire predicament.
"In individual terms, it means that even if you saved every single penny you earned for an entire year, you would still be unable to repay your debt. And the number of people with debt problems is rising at an exponential rate."
Since the release of Squid Game season 2, viewers have drawn connections between the Netflix series and the notorious internment camp – but creator Hwang Dong-hyuk has never made any suggestion that it inspired the show.
In reality, authorities reportedly sent a wide range of individuals to Brothers' Home, including employed citizens, children left briefly unattended, orphans and others, where they lived in inhumane conditions and allegedly suffered extreme physical and sexual abuse.
However, there are also vast differences between the disturbing Brothers' Home and the plot of Squid Game, including the forced labour that survivors have alleged, and the lack of any competitive element or monetary reward for their immense suffering.
Are the "real Squid Game" pictures on TikTok real or AI generated?
The viral pictures of the "real Squid Game" that were previously trending on TikTok are AI generated.
However, this was misinformation. The images were AI generated and were initially shared online in October 2024, more than two months before season 2 premiered, by Instagram user @CityHermitAI.
What is a Squid Game in Korea?
A variation of tag, Squid Game works much the same way as seen in the show, and is played on a board drawn in the ground that resembles the shape of a squid.
It is then up to the defenders to stop the attackers from advancing, and can achieve victory by pushing them outside of the court's boundaries.
The second challenge in season 1, in which contestants have to pick a stamped shape out of a honeycomb snack, is also based on a Korean tradition. The snack in question is called Dalgona, and Korean children often attempt to eat the embossed shape without snapping the treat.
"It was one of the most physical and it was also one of my favourite games. I felt that this game could be the most symbolic children’s game that could represent the kind of society we live in today."
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