It was released on November 1, 2016, together with "Stay", as the group's second digital single album titled Square Two, through YG Entertainment.
With this, they became the K-pop female act with the most chart-toppers, surpassing 2NE1 and CL, who each earned one number-one song.
[6] The music video for "Playing with Fire" was directed by Seo Hyun-seung,[7] who previously worked with the group and directed the music video for "Boombayah", and it was released on Blackpink's official YouTube channel at midnight on November 1, 2016 KST.
Blackpink also released the dance practice video for "Playing With Fire" on YouTube on November 4, 2016.
It was choreographed by Kyle Hanagami, who had worked with them for "Boombayah" from their previous single album Square One.