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A Joint Publishing Contract with ByteDance Ltd. for Ragnarok X: Next Generation

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Seoul, July 30, 2020 (GLOBE NEWSWIRE) -- GRAVITY Co., Ltd. (NASDAQGM:GRVY) ("Gravity" or "Company"), a developer and publisher of online and mobile games, today announced that the company signed a joint publishing contract with ByteDance Ltd. ("ByteDance"), a multinational content platform company, for a new MMORPG mobile game, Ragnarok X: Next Generation in Taiwan, Hong Kong, Macau, and Southeast Asia.

Ragnarok X: Next Generation is a mobile MMORPG game based on Ragnarok IP, which is being jointly developed by Gravity and Shanghai The Dream Network Technology Co., Ltd. and is being prepared to launch in the second half of 2020 in Taiwan, Hong Kong and Macau.

ByteDance will also collaborate with Gravity's subsidiary in Taiwan, Gravity Communications Co., Ltd., in Taiwan, Hong Kong and Macau and Gravity's subsidiary in Thailand, Gravity Game Tech Co., Ltd., in Southeast Asia as a joint publisher.

[Official Gravity Website] http://www.gravity.co.kr/kr

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

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 93 markets and countries. For more information about Gravity, please visit http://www.gravity.co.kr.

Contact:

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

Ms. Jin Lee
Ms. Minji Oh
IR Unit
Gravity Co., Ltd.
Email: ir@gravity.co.kr
Telephone: +82-2-2132-7800

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