Gravity Co.,Ltd. (South Korea)

The Company engages in developing and distributing online games and other related businesses principally in the Republic of Korea and other countries in Asia, North and South America, and Europe. The Company s principal product, Ragnarok Online, a multiplayer online role playing game.
The Company offers multiplayer online role playing games, casual online games, mobile games, and animation and character-based merchandise. The Company s principal product includes Ragnarok Online, an action adventure-based multiplayer online role playing game that combines cartoon-like characters, community-oriented themes, and combat features enabling various players to interact with one another. Its other multiplayer online role playing games comprise R.O.S.E. Online, Requiem, and Emil Chronicle Online. The Company s casual online game consists of Pucca Racing, a game play based on classic bike racing. It also licenses the merchandizing rights of character-related products based on its online games. In addition, the Company provides the animation series of Ragnarok Online in DVD and video on demand formats, as well as broadcasts these series on televisions. Additionally, the Company, along with its licensees, markets dolls, stationery, and other character-based merchandise, as well as game manuals, monthly magazines, and other publications.
HISTORY
2000 The Company was incorporated as a company with limited liability under Korean las on April 4, 2000 under the legal name of Gravity Co., Ltd.
2003 In March 2003, the Company established Gravity Interactive, LLC, the wholly-owned subsidiary in the United States. The name Gravity Interactive, LLC was changed on January 1, 2006 to Gravity Interactive, Inc.
2004 In January 2004, the Company acquired 50 of the voting shares of Gravity Entertainment Corporation, formerly RO Production Co., Ltd., the subsidiary in Japan. In October 2004, the Company obtained from GungHo Online Entertainment Inc., then the other 50 shareholder of RO Production, their ownership interest in RO Production, which made GRAVITY Entertainment our wholly-owned subsidiary. RO Production changed its corporate name to GRAVITY Entertainment Corporation on February 5, 2005.
2005 On February 8, 2005, the Company listed its shares on the Nasdaq Stock Market in the United States, under the symbol “GRVY”. In April and May 2005, the Company acquired an aggregate of 88.15 equity interest in TriggerSoft Corporation, which develops its R.O.S.E. Online game. In November and December 2005, the Company acquired an aggregate of 96.11 of the total shares of NEOCYON, Inc., which provides mobile multimedia and online game distribution services in Korea and Russia.
2006 In August 2006, the Company founded Gravity EU SASU, or Gravity EU, a wholly-owned subsidiary based in France, and in September 2006, it acquired 100 of the voting shares of Gravity CIS, Inc. formerly Mados, Inc., from Cybermedia International, Inc., a former subsidiary of NeoCyon.
2007 In May 2007, the Company established Gravity Middle East Africa FZ-LLC, or Gravity Middle East Africa, a wholly-owned subsidiary in Dubai. Gravity Middle East Africa has been in the process of liquidation since September 2008. In October 2007, the Company founded Gravity RUS Co., Ltd., or Gravity RUS, a Russia-based subsidiary, and acquired 99.99 of the voting shares, and transferred 100 of the voting shares of Gravity CIS to Gravity RUS in December 2007. In October 2007, the Company formed L5 Games Inc., or L5 Games, a game development studio in the U.S., which is a wholly-owned subsidiary of Gravity Interactive. L5 Games has been in the process of liquidation since August 2008. On November 21, 2007, the name of Gravity CIS, Inc. was changed to Gravity CIS Co., Ltd., or Gravity CIS.
2008 On April 1, 2008, GungHo acquired shares of the Company s common stock, after which it became the Company s largest shareholder, beneficially owning approximately 52.4 of its common shares. GungHo subsequently purchased the Company s ADSs and beneficially owns approximately 59.3 of its common shares as of March 31, 2010.