The third part of the blog series on running applications on Kubernetes focuses on setting up and managing a Kubernetes cluster on Google Cloud. The process begins with configuring Google Cloud SDK, creating a project, and setting up a Kubernetes cluster, which results in the creation of one master and four worker nodes. The blog then details running a Docker container within this cluster, specifically using a pre-configured Couchbase server image, and demonstrates how to expose this server to external access by creating a Kubernetes Service with a LoadBalancer. Finally, it provides instructions on shutting down the cluster, ensuring that all resources are properly deleted.