This article uses Mbembe's concept of necropolitics as an analytical category to examine the representations of necropower in Squid Game. In the global “organ economy,” organ sellers decide to supply, and brokers then mediate between them and buyers. In contrast, South Korean loan sharks commodify delinquent debtors' organs by forcing them to sign a body waiver as collateral. Recent South Korean dramas have thematized this distinctive systemization of the black economy. Borrowing Lowenstein's “allegorical moment” concept, this article aims to illuminate representations of fluid necropower through children's games as a hinge between reality and the imaginary that invites viewers to dialectically evaluate death problems. The contestations of money and humanity synthetically emerge as necropower constantly moves among different entities: VIPs, a frontman, players, game rules, and money. This article claims that viewers process numerous allegorical moments created by the iconography of necropower and synthetically realize necropolitics and corporeality in Squid Game. Organ extractions and trade in episode two in particular represent “morbid spectacle” and the culmination of mammonism. This article analyzes scenes of death, games, the technique of killing, and esthetics to connect historical examples of the necropolitics that Mbembe draws on and to discuss representations of the organ trade in this recent Korean drama.