R.O.S.E. Online Commercialized in Japan 
 
Seoul, South Korea – July 15, 2005 - Gravity Co., Ltd. (Nasdaq: GRVY), an  
online game developer and distributor, today announced that its online game  
R.O.S.E. Online has been commercialized in Japan following a beta test.   
Gravity plans to focus on the Japanese market given its prominence as one of  
the world’s top gaming markets.  
 
Along with the commercialization, a new billing model <Style Select> has been  
introduced, which enables users to choose a tailored billing system.  There are 
three ‘Set billing model’ named Light, Basic, and Complete.  <Style Select>  
is charged conveniently with electronic currency exclusive to internet  
shopping, and the electronic currency is available in 30,000 stores including  
online and convenience stores.   
 
David Woong Jin Yoon, CEO of Gravity commented, “The Japanese online gaming  
market continues to grow along with the increased adoption of broadband  
Internet services. For a successful commercialization of R.O.S.E. Online in  
this important gaming market, our distributor is implementing a diverse  
marketing strategy, including celebrity marketing, to provide services in the  
Japanese market.” 
 
About Gravity Co. Ltd.  
Based in Korea, Gravity is a developer and distributor of online games in  
Japan, Taiwan, Thailand and Korea. The Company's principal product, Ragnarok  
Online, is currently commercially offered in 20 markets. For more information  
visit www.gravity.co.kr. 
 
  
Forward-Looking Statements: 
 
Certain statements in this press release include forward-looking statements  
within the meaning of the U.S. Private Securities Litigation Reform Act of  
Forward-looking statements generally can 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.  All forward-looking statements  
involve risks and uncertainties, including, but not limited to, the ability to  
diversify revenue, ability to collect license  fees and royalty payments from  
overseas licensees and in a timely manner; ability to acquire, develop,  
license, launch, market or operate commercially successful online games;  
competition from companies that have greater financial resources; introduction  
of new products into the marketplace by competitors; the ability to recruit and 
retain quality employees as Gravity grows; and economic and political  
conditions globally. Actual results may differ materially from those discussed  
in, or implied by, forward-looking statements. The forward-looking statements  
speak only as of the date of this release and Gravity assumes no duty to update 
them to reflect new, changing or unanticipated events or circumstances.  
 
CONTACTS For GRAVITY:	 
 
In Korea: 
John C. Chung 
GRAVITY Co. Ltd. 
Tel: 82-2-3485-1002 
chchung@gravity.co.kr	 
 
In the U.S.: 
David Pasquale, EVP  
The Ruth Group 
Tel: +646-536-7006 
dpasquale@theruthgroup.com