GRAVITY Co., Ltd.

Gravity To Launch Next-Gen Casual Game Portal

Seoul, South Korea – June 9, 2005 – Gravity Co., Ltd. (Nasdaq: GRVY), a leading
developer and distributor of online games, today announced that it has
recently  signed a contract with Sonnori Co., Ltd. (“Sonnori”) to publish a
cutting-edge casual online game portal “STYLIA”.

STYLIA is the culmination of more than decade-long game research and
development by Sonnori, which has already produced a number of hit titles since
the early 1990s.  In 2000, Gravity and Sonnori jointly worked on the
development of Arcturus, a PC role playing game.  Under the latest contract,
Gravity has global publishing rights of STYLIA for five years (six months for
Korea), which is the second new product published by Gravity following R.O.S.E
Online in January 2005.

David Yoon, the CEO of Gravity commented, “Our publishing agreement with
Sonnori is the latest example of our strong 3rd party publishing capability.
STYLIA is an innovative casual game portal that we expect will be well received
by gamers globally.  Moreover, STYLIA is strategically important for Gravity as
it will accelerate our casual gaming strategy and serve as the cornerstone for
our next-generation casual game platform.  STYLIA also compliments the ongoing
expansion of Gravity’s existing titles and the diversification of our global
market reach.”

More details of STYLIA are expected to be announced during the beta-testing
launch press conference in July.

About GRAVITY Co., Ltd.
Based in Korea, Gravity is a leading developer and distributor of online games
worldwide.  The Company’s principal product, Ragnarok Online, is currently
commercially offered in 20 markets.  Gravity also offers a number of mobile
games, which are played using mobile phones and other mobile devices,
participates in the production of a televised animation series, and licenses
merchandizing of character-related products based on its online games. 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:
In Korea:
Kwan Shik Seo, CFO
Gravity Co. Ltd.
Tel: 82-2-516-5438(Ext. 314)
ksseo3311@gravity.co.kr

In the U.S.:
David Pasquale, EVP
The Ruth Group
Tel: +646-536-7006
dpasquale@theruthgroup.com

SIGNATURES

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: 06/09/2005	By:	/s/Kwan Shik Seo
	Name:	Kwan Shik Seo
	Title:	Chief Financial Officer

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GRAVITY Co., Ltd. ———————————————————————————————————
(Translation of registrant’s name into English)

Shin-Gu Building, 620-2 Shinsa-Dong, Gangnam-Gu, Seoul, 135-894, Korea
——————————————————————————————————— (Address of principal executive office)

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

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934: [ ] Yes [x] No