Unlocking the Secrets Behind Squid Game’s Enormous Prize

In the high-stakes drama of Squid Game, the prize money remains unchanged at 45.6 billion won. Yet, its real-world value fluctuates with global currency dynamics. Currently, this sum translates to approximately $31.5 million USD, reflecting a significant shift from its 2021 equivalent of nearly $38.5 million. The Korean won's depreciation underscores the volatility of international finance and the game organizers' disregard for inflationary pressures.

The Impact on Everyday Life in Korea

To understand the gravity of Gi-hun’s winnings, consider the average Korean worker's annual salary, which stands at around 46.8 million won or $32,347 before taxes. With his prize, Gi-hun could cover the yearly wages of nearly 974 employees. This stark comparison highlights the transformative power of his newfound wealth within the Korean job market.

Seoul, home to half of South Korea’s population, ranks as one of the world's most expensive cities for expatriates. Renting a studio apartment outside the city center costs about $475 monthly, while a three-bedroom flat in the heart of Seoul can reach up to $2,500 per month. However, the unique jeonse system—requiring a substantial upfront deposit—poses a significant barrier for many Koreans. In November 2023, the average jeonse deposit was 423 million won ($292,000). Gi-hun’s windfall would comfortably cover such deposits for over 108 apartments, illustrating his enhanced purchasing power in Seoul’s competitive rental market.

Purchasing Power in Seoul’s Property Market

The property market in Seoul is notoriously inaccessible to the average citizen. According to a 2023 state study, a Seoul resident must save their entire income for 15.2 years to afford a home. In affluent Gangnam, an apartment averages 2.25 billion won ($1.56 million), a sum far beyond the reach of most residents. For Gi-hun, however, this barrier evaporates. His prize money enables him to acquire multiple properties in desirable locations, fundamentally altering his socio-economic standing.

Interestingly, Gi-hun’s initial motivation—to buy fried chicken for his daughter—now seems trivial. With his winnings, he could purchase over 1.8 million servings of tongdak from August Chicken, though his daughter has since moved to Los Angeles. This juxtaposition underscores the absurdity of extreme wealth and its disproportionate impact on daily life.

Comparative Wealth in Global Context

Gi-hun’s triumph pales in comparison to the colossal fortunes of global billionaires. Jeff Bezos, earning $1.9 million per hour, accumulates roughly $45.8 million daily, surpassing Gi-hun’s total prize in just over a day. Elon Musk, now the world’s richest person with a net worth exceeding $400 billion, would require Gi-hun to win the game over 12,700 times to match his wealth. These comparisons highlight the unfathomable scale of wealth disparity under modern capitalism.

Season 2 of Squid Game promises to explore these themes further, delving into the psychological and societal implications of such extreme financial disparities. The series not only captivates audiences with its thrilling narrative but also prompts critical reflection on the nature of wealth and survival in today's world.