Even before production for the second season commences, chatter about a third installment of Netflix's global hit "Squid Game" has already taken the internet by storm.

The speculation was sparked by a recent report from South Korean news agency Osen, which suggested that Netflix is considering shooting the second and third seasons of the popular dystopian series simultaneously. Each season is purported to have 13 episodes, according to Soompi's translation.

Responding to the rumors, Netflix issued a statement saying: "In order to create a show that will bring the fans joy, the 'Squid Game' production team is giving their all to prepare for Season 2." The streaming giant further clarified, "Because we are still in the early stages [of planning], the concrete details have not yet been decided."

"Squid Game", which premiered on Netflix on September 17, 2021, became an immediate sensation, marking its place as the most-watched Netflix show of all time. Variety reports the series accumulated a staggering 1.65 billion hours of viewing in the first 28 days after its release. The plot revolves around 456 contestants playing deadly survival games for a chance to win KRW 45.6 billion.

The possibility of a second and third season first emerged in December 2021, when the show's creator, Hwang Dong-hyuk, mentioned during a KBS interview that he was discussing the prospects with Netflix, as reported by The Korea Times.

Hwang also hinted that the upcoming season would explore the narrative of Seong Gi-hun, played by Lee Jung-jae, following his victory in the ruthless competition. However, the formal approval for the second season's pre-production was only granted in June 2022.

Reflecting on the rapid success of the show, Hwang stated, "It took 12 years to bring the first season of 'Squid Game' to life last year. But it took 12 days for 'Squid Game' to become the most popular Netflix series ever."

He thanked the fans for their love and support and teased the return of key characters in the next installment, stating, "And now, Gi-hun returns. The Front Man returns. Season 2 is coming."

Executive producer Kim Ji-yeon acknowledged the mounting expectations for the upcoming season during an interview with Tudum, saying, "We are working on the script right now and making the form of the story. But there's definitely a lot of pressure on how to make [Season 2] even better."

Season 2 of "Squid Game," with Lee Jung-jae, Wi Ha-joon, and Lee Byung-hun reprising their roles, is slated to commence production in July.