'Squid Game' Seasons 2 and 3, Along with BTS and BLACKPINK’s Returns, to Further Heat Up the K-Wave

As Korea’s K-culture—encompassing dramas, music, and literature—continues to exert a strong influence on the global stage, 2025 is expected to be a special year as iconic figures of the K-Wave gather together. Currently, there are approximately 220 million K-culture enthusiasts worldwide, a figure four times larger than South Korea’s population. This represents a stark contrast to the era when Psy’s “Gangnam Style” was the top export of Korean popular culture in 2012. Thanks to the success of streaming platforms and production values on par with Hollywood standards, K-content has become a central part of global popular culture. Among K-dramas, “Squid Game” is the most prominent work. Season 2 of “Squid Game,” released on the 26th, is set to fully demonstrate its impact early next year, with Season 3 also planned for release later in the same year. After its premiere on September 17, 2021, Season 1 accumulated a total viewing time of 1.6545 billion hours within 28 days and was ranked as the most-watched show in 94 countries worldwide, setting a record across both English-speaking and non-English-speaking regions. Netflix is putting all its efforts into promoting the follow-ups to “Squid Game,” holding a 4.56 km running competition in Los Angeles, USA, where tickets for preview screenings were up for grabs, and organizing a “The Mugunghwa Flower Has Bloomed” game on Paris’s Champs-Élysées. While Season 1 focused on the protagonist Gi-hun struggling with gambling debts and winning the game, Seasons 2 and 3 will expand the story to show Gi-hun returning to the game in an attempt to dismantle the organizers’ system. If Season 2 depicted Gi-hun’s rebellion plans and associated crises, Season 3 is expected to resolve these elements and maintain its momentum as a topic of discussion. Film critics have commented, “Season 2 seems more targeted at global viewers than Season 1,” adding that “focusing on Korean-themed elements such as kicking games and stone-throwing games is likely to generate even more interest among international audiences.” In the K-pop sector, the resumption of full-group activities by BTS and BLACKPINK is a key factor. All five members of BTS—RM, V, Jimin, Jung Kook, and SUGA—who are serving in military duty—are set to be discharged or released from conscription in June 2025, after which they are expected to begin working on new albums in the second half of the year. However, if emphasis is placed on the quality of the new releases, the release date might be postponed to 2026. Nevertheless, the members are likely to reunite in some form by next year for their long-awaited fans, “ARMY.” After winning the Grand Prize at last month’s Mnet MAMA Awards, Jimin wrote on the fan community Weverse, “We’re already getting excited thinking about what songs we should deliver and what stages we should perform after we’re discharged.” V also left a message saying, “Let’s get busy again next year with BTS all together.” BLACKPINK became the first K-pop girl group to top both the U.S. Billboard and the UK Official Album Charts in 2022 with “BORN PINK,” and they organized the largest K-pop girl group world tour to date, drawing 1.8 million fans across 34 cities worldwide. The members have had successful solo activities in 2024, including Rosé’s “APT.,” Jennie’s “Mantra,” and Lisa’s “ROCKSTAR,” and they have announced a full-group return, new album release, and world tour for next year. If their comeback happens as planned, a “pink storm” expected to surpass the popularity of their previous works is set to sweep the globe. Experts predict that the resurgence of K-content during this period will significantly boost the K-pop market atmosphere. However, there are also cautious views suggesting that factors such as the global economic downturn, negative issues within the K-pop industry last year, and fatigue with K-pop in the North American market mean that the actual impact will need to be observed.