UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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GRAVITY Co., Ltd. ——————————————————————————————————— |
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| (Translation of registrant’s name into English) | ||||
| Shin-Gu Building, 620-2 Shinsa-Dong, Gangnam-Gu, Seoul, 135-894, Korea | ||||
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| Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: [x] Form 20-F [ ] Form 40-F | ||||
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Gravity Announces Board Change Seoul, South Korea – August 19, 2005 – Gravity Co., Ltd. (NASDAQ: GRVY), an online game developer and distributor, today announced that Richard Hyonkook Kim has resigned from the company’s board of directors. Mr. Kim also served as Gravity’s Chief Strategy Officer. Nine directors remain on the board of directors, of which six directors are independent. Mr. David Woong-Jin Yoon, CEO of Gravity said, “We appreciate Richard’s contribution to the Company and respect his decision at this time.” About GRAVITY Co., Ltd. Based in Korea, Gravity is a developer and distributor of online games worldwide. Gravity’s principal MMORPG, 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,” “believ e,” “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: 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
| Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. |
| GRAVITY Co., Ltd. | ||
| Date: 08/19/2005 | By: |
/s/John C. Chung |
| Name: | John C. Chung | |
| Title: | Investor Relations Officer | |