Gravity Announces Pre-Registration for Ragnaork M in Southeast Asia

GRAVITY Co., Ltd. (NasdaqCM: GRVY) (“Gravity” or “Company”), a developer and publisher of online and mobile games based in South Korea, today announced that its wholly‑owned subsidiary in the United States, Gravity Interactive, Inc., (“Gravity Interactive”) began its pre-registration phase for Ragnarok M: Eternal Love in selected Southeast Asia countries. Ragnarok M: Eternal Love is one of the popular mobile games that had become a hit in China, Taiwan, Hong Kong, and Korea, and is expected to succeed in Southeast Asia, where Ragnarok IP is the most popular. The launch areas are 11 countries including Thailand, Indonesia, the Philippines, Singapore, Malaysia and Vietnam. It will be available in 5 languages including English, Simplified Chinese, Thai, Indonesian and Vietnamese. In particular, the version of Southeast Asia not only reflects the cute and bright feel of graphics based on the vast story of the original game, but also will allow players to hold hands and express their emotions regardless of gender.

Liliana Bae, Director of Gravity Business and Executive Director of Gravity Interactive said that "We are confident that Ragnarok M: Eternal Love will have a strong brand power and marvelous game features in the Southeast Asian market. We will do our best to have more users enjoy Ragnarok M by working closely with our partners on localization."

[Pre-Registration link] http://www.ragnaroketernallove.com/

[Official Facebook link] https://www.facebook.com/PlayRagnarokM/

About GRAVITY Co., Ltd. ---------------------------------------------------

Based in Korea, Gravity is a developer and publisher of online and mobile games. Gravity's principal product, Ragnarok Online, is a popular online game in many markets, including Japan and Taiwan, and is currently commercially offered in 81 markets and countries. For more information about Gravity, please visit http://www.gravity.co.kr.

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 annual report for the fiscal year ended December 31, 2017 on Form 20-F, together with such other documents that 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: [e-mail]

Ms. Sang Eun Sung IR Manager Gravity Co., Ltd. Email: [e-mail] Telephone: [phone]