The third season of the series ended on January 10, 2026, on SBS. Its finale had a "cliffhanger" ending that left viewers uncertain of Kim Do-gi's fate (he falls off a bridge with his nemesis, but an image of him is shown one year later in a teaser).
This type of unresolved endpoint has created much speculation and anticipation among fans for there to be future seasons, although SBS and the production company have not confirmed this yet. The third season was very successful, with ratings reaching 16.6%, and it was by far the most-watched show on Netflix in South Korea after the series finale. The show's global popularity (through other services including Netflix, Viu, and Disney+ in specific countries) means that creating future seasons would be appealing because it is a "strong IP."
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There has been some vague positive optimism from one of the principal actors, Kim Eui-sung (who plays Jang Sung-chul) in interviews stating that it's "not impossible" that they would do it if the elements align, as expressions were exchanged between the cast members during an interview that implied they had interest, but there were no commitments at this time with jokes made about the lead actor, Lee Je-hoon's, "knees holding up".
Lead actor Lee Je-hoon has been less optimistic than his co-star, stating earlier (late 2025) that it is "too soon" to discuss Season 4 after Season 3 either started or ended, while he had thought of possible storylines.
There are many fans and websites (i.e., Reddit, Instagram, K-drama sites) that feel this is "likely" or "feels like a sure thing" based on the previous seasons (the length of time between announcement) and the show's evident success, as all seasons have finished at approximately the same time frame as prior seasons. However, there are some fans who point to lower live television ratings than Seasons 1-2 (possibly due to the changing of viewership to online streaming) as a reason for concern about a possible Season 4.
Wikipedia and other sources indicate that there was no renewal announcement or release date information at this time. The production has long-term business relationships with other K-drama productions.
To sum it all up, the chance of a show coming back from the loved and massively successful past is certainly great, but they have not made an official announcement at this time. The fans are hopeful that it could be announced this fall in 2026; however, that would mainly depend on the decision of the producers. If there are any new updates in the form of a statement released by SBS and B.A.P, then this will make the news headline quickly because of how popular and well-known they are.