Why Are the VIPs in 'Squid Game' So Important to the Actual Competition?

'Squid Game' viewers saw some of the VIPs in Season 1.

Chrissy Bobic - Author
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Published Jan. 3 2025, 2:10 p.m. ET

The VIPs in Squid Game
Source: Netflix

The Squid Game VIPs are first introduced toward the end of Season 1. They are wealthy people from all over the world who apparently have a vested interest in the games. But who are they specifically, and could any of the players in Season 2 actually be a secret VIP member? The show's director has spoken about the return of the VIPs for Squid Game's final season.

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The third and final season of Squid Game premieres in 2025. Fans are hopeful that the season will drop on the streaming platform before the end of the year since Season 2 premiered at the end of 2024. Either way, it's the last installment and in a way, it's a final chance for viewers to understand the VIP characters and their significance in the games, even though these individuals don't play the games themselves.

Squid Game players in Season 2
Source: Netflix
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Who are the VIPs in 'Squid Game'?

Much like those who have a perverse way of spending their money in the Hostel movies, the VIP characters of Squid Game have wealth that they choose to use to bet on the games each year. But the identity of the VIPs are left secret, when they show up to the secret island, they wear large masks to conceal who they are in real life.

Presumably, these VIPs are extremely wealthy individuals who essentially keep the games going. They might place their bets to win money on different contestants dying, killing someone else, or being eliminated within the competition. But they also stand to lose money, and that money likely goes back into the games.

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Squid Game director Hwang Dong-hyuk shared with USA Today that the VIPs are definitely part of the third and final season of the show.

"You will get to see the VIPs in the third season," he told the outlet. "They're coming. They're on the way. Their chopper is flying over the island now."

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Are any of the players secret VIP spectators?

Since the VIPs are confirmed to appear in Season 3, does that mean the theories about Squid Game characters being VIPs are true? Nothing has been confirmed. However, the third season could use a final twist to shock viewers, and the reveal of one of the main players being a secret VIP who paid to play the game and come out alive before the end would definitely shock fans.

Player 333 in Squid Game Season 2
Source: Netflix
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There is a difference between the triangle, circle, and square guards in 'Squid Game.'

While the VIPs are the most important people in the hierarchy on Squid Game, there is another level of importance to take into account when it comes to the guards. There seems to be a rank of the guards depending on the shape on their mask. The triangle masked-guards seem to be soldiers with guns, while those with square masks are above them. And the guards with circles on their masks may be the lowest ranked.

Regardless of how the guards on Squid Game are ranked, though, they are all terrifying. And none of them have the ability to show mercy when it comes to the players.

Watch Squid Game on Netflix.

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