GlobeNewswire Inc | Jul 30, 2020 06:00AM EDT

July 30, 2020

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 Gravitys subsidiary in Taiwan, Gravity Communications Co., Ltd., in Taiwan, Hong Kong and Macau and Gravitys 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. Gravitys 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