“Squid Game 2” Casting of T.O.P is a Bad Move Unlike Director’s Hope, Stock Price Plummets + Censorship

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Humiliation by Censorship
On January 7, 2025, MBC’s “Live This Morning” discussed the success of Netflix’s “Squid Game” Season 2 and the reactions at home and abroad.

Here, it was noted that although “Squid Game 2” has set notable records, there has been constant noise due to various controversies, with T.O.P’s casting being a notable mention.
As this was discussed, a “Squid Game 2” scene where T.O.P’s character, rapper Thanos, appeared, was shown, but the idol-actor’s face was censored, drawing the attention of viewers. The blurry censorship is likely due to T.O.P’s past drug scandal.
Alarming Stock Price Drop
On December 26, “Squid Game” Season 2 was officially released. However, what follows this highly anticipated premiere was mostly disappointment.

In particular, as of December 27, the Korea Exchange reported that the stocks of Lee Jung-jae’s company, Artist United, has dropped 25.11% in price compared to the previous day. Other companies related to lead actor Lee Jung-jae and the production of “Squid Game” have also seen their stock price decrease, by around 15% to 27%.
Scathing Reviews
This is likely due to the fact that “Squid Game” is receiving more negative reviews than positive ones, especially from foreign media. In particular, there have been harsh criticism, calling “Squid Game 2” a “thorough letdown” and “more disappointing than shocking”.
This is contrary to the previous expectations of the director for “Squid Game”.
Previous Expectations for T.O.P Casting
In particular, previously on August 1, the press conference for Netflix’s original series “Squid Game” Season 2 was held at the Four Seasons Hotel in Jongno-gu, Seoul, with director Hwang Dong-hyuk and CEO Kim Ji-yeon in attendance.
“Squid Game 2” is set three years after Seong Gi-hun (played by Lee Jung-jae) won Squid Game, giving up on going to the United States and returning with a new resolution in mind. He once again dives into the mysterious survival game, starting another life-or-death game with new participants gathered to win the prize of 45.6 billion won.

When news broke that T.O.P (real name Choi Seung-hyun) would join “Squid Game 2”, some viewers criticized the casting, with calls for his removal and even boycotts. T.O.P was sentenced to 10 months in prison, suspended for two years, for marijuana use in 2017.
Regarding this, director Hwang Dong-hyuk commented, “I didn’t expect this much controversy surrounding casting actor Choi Seung-hyun.”
He continued, “I don’t know if my judgment is entirely correct, but the incident happened a long time ago, and he served his sentence. We’ve seen other celebrities who faced controversies return over time, so I felt that it might be appropriate for him to start anew at this point, which is why I cast him.”

Director Hwang explained, “More people expressed concerns than I expected. I thought to myself, ‘Maybe what I thought was wrong, maybe I didn’t think this through enough.’ But T.O.P showed a strong will, and out of anxiety, he even auditioned. He worked hard, showing acting videos, doing readings, and when he had doubts, he sought verification, demonstrating a lot of effort and talent.”
Director Hwang said, “The role that Choi Seung-hyun plays requires a lot of courage. Personally, I thought he was the most suitable for the role, and that’s why I made the decision. It caused controversy, but because I’ve been through a lot with this actor, I had to show the result of why we had to work with him on this project. So, I decided not to reverse the casting decision and went forward. I know many are curious and might not understand, but I have my reasons.”
He added, “Once you see the show, you will understand that this wasn’t an easy decision. Please wait a little longer and reassess once the work is released.”