We won't give away any major spoilers here, but the black mask-wearing mystery figure is the main game operator and keeps tabs on what's going on during the games, with his identity finally revealed toward the end.
Hwang said in an earlier interview he was exhausted just thinking about filming another season.
"I don't have well developed plans for Squid Game 2," he told Variety. "It is quite tiring just thinking about it. But if I were to do it, I would certainly not do it alone. I'd consider using a writers' room and would want multiple experienced directors."
Squid Game follows 456 desperate, cash-strapped people who are randomly approached to participate in a series of traditional children's games in an event hosted by a mysterious cohort, with the last man/woman standing poised to take home a $40 million prize.
But what they aren't told upon being enlisted is that every player – except the winner – will be brutally killed in their pursuit for the prize money.
Squid Game streams on Netflix.