SEOUL, South Korea, January 20, 2015 /PRNewswire/ — GRAVITY Co., Ltd. (NasdaqCM: GRVY) ("Gravity" or the "Company"), today announced that it has entered into business agreements with Shanghai The Dream Network Technology Co., Ltd. ("Dream Square") dated January 15, 2015.

Gravity signed a development agreement with Dream Square. Gravity granted Dream Square a nonexclusive right to develop and distribute mobile games in China by using contents of its principal product, Ragnarok Online. Dream Square is to develop and publish a mobile game within one year and another one within 18 months from the effective date of the agreement.

Gravity also signed a license agreement with Dream Square, which entitles Dream Square to operate and distribute Ragnarok Online II in China. The Company has already entered into license and distribution agreements for Ragnarok Online II with its subsidiary and local licensees for service in Japan, the United States, Europe, Taiwan and 19 other countries.

"We are happy to announce that Ragnarok Online II will be available in China by an excellent business partner such as Dream Square," commented Mr. Hyun Chul Park, the CEO of Gravity. "Also, we are excited about this opportunity for world-renowned Ragnarok Online to reach out to mobile game players."

About GRAVITY Co., Ltd.

Based in Korea, Gravity is a developer and publisher of online games and mobile games. Gravity’s principal product, Ragnarok Online™, is a popular online game in many markets, including Japan, Taiwan and Thailand, and is currently commercially offered in 60 markets. For more information about Gravity, please visit http://www.gravity.co.kr.

About Shanghai The Dream Network Technology Co., Ltd.

Based in China, Dream Square provides web games, social games, mobile internet games, and various cross platform gaming services. It exports its gaming products to Northern America, Europe, Russian Federation, Japan, and Taiwan markets. For more information about Dream Square, please visit http://www.thedream.cc.

Forward-Looking Statements

Certain statements in this press release may include, in addition to historical information, "forward-looking statements" within the meaning of the "safe-harbor" provisions of the U.S. Private Securities Litigation Reform Act 1995. Forward-looking statements can generally be identified by the use of forward-looking terminology, such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe" "project," or "continue" or the negative thereof or other similar words, although not all forward-looking statements contain these words. Investors should consider the information contained in our submissions and filings with the United States Securities and Exchange Commission (the "SEC"), including our registration statement on Form F-1, as amended, and our annual reports on Form 20-F, together with such other documents and we may submit to or file with the SEC from time to time, on Form 6-K. The forward-looking statements speak only as of this press release and we assume no duty to update them to reflect new, changing or unanticipated events or circumstances.

Contact:

Mr. Heung Gon Kim
Chief Financial Officer
Gravity Co., Ltd.
Email: kheung@gravity.co.kr

Ms. Ji Hee Kim
IR Manager
Gravity Co., Ltd.
Email: jihee521@gravity.co.kr
Telephone: +82-2-2132-7800

Photo – http://photos.prnewswire.com/prnh/20150119/169842

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