Gravity Enters License & Development Agreements With Dream Square In China

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. Xin Rong Mai, the executive director of Dream Square(left) and Hyun Chul Park, the CEO of Gravity(right) in the signing ceremony on 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."