Contains spoilers for this episode and earlier episodes.
Gi-hun wakes inside the games wearing his old number, 456, and finds his friend Jung-bae among the new contestants. Other players include former cryptocurrency promoter Myung-gi, rapper Thanos, and Yong-sik and his mother Geum-ja. Several blame Myung-gi for their investment losses. The organizers introduce a changed voting system: after each round, a majority can end the contest and divide the accumulated money among the survivors.
Gi-hun prepares the group for Red Light, Green Light and urges them to remain still when the doll turns. His warnings initially help, but a sudden movement triggers gunfire and panic. Thanos deliberately shoves other contestants, and Gi-hun helps an injured man toward the finish before a sniper shoots him. No-eul watches from the guards' positions and recognizes the ill girl's father, Gyeong-seok, among the competitors. Outside, Jun-ho's team discovers that Gi-hun's tracker has been removed and planted elsewhere.
Back in the dormitory, Gi-hun urges everyone to quit before another round kills them. He reveals that he won the previous contest, but the admission encourages some players to believe that he can guide them to victory. The guards prevent him from continuing to interrupt the vote. With the sides level, Player 001 casts the deciding ballot to continue. His face reveals him to be In-ho, the Front Man, now playing alongside the people whose deaths he oversees while Gi-hun remains unaware of his identity.