SEOUL, South Korea, Feb. 12, 2008 (PRIME NEWSWIRE) -- GRAVITY Co., Ltd. (Nasdaq:GRVY) (the "Company"), an online game developer and publisher, announced today that the Company has moved its head office to Sangam Digital Media City. The Company's new address is: Nuritkum Square Business Tower 15F, 1605 Sangam-Dong, Mapo-Gu, Seoul, Korea 121-270. The Company's new general telephone number is +82-2-2132-7000 and general fax number is +82-2-2132-7070.
Mr. Il-Young Ryu, the Chairman and Chief Executive Officer of GRAVITY commented, "Our new, state-of-the-art business facilities will create a stimulating environment for the Company's game developers and other employees. The office relocation is expected to curtail our rental expenses for 2008 and is one of the many ways in which the Company is working to cut expenses."
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About GRAVITY Co., Ltd.
Based in Korea, GRAVITY is a developer and distributor of online games. GRAVITY's principal product, Ragnarok Online(tm), is a popular online game in many markets, including Japan, Taiwan and Thailand, and is currently commercially offered in 22 markets. For more information, please visit http://www.gravity.co.kr.
Forward-Looking Statements:
Certain statements in this press release may include, in addition to historical information, "forward-looking statements" within the meaning of the "safe-harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally 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, although not all forward-looking statements will contain these words. Investors should consider the information contained in our submissions and filings with the United States Securities and Exchange Commission (the "SEC"), including our registration statement on Form F-1, as amended, and our 2005 and 2006 annual reports on Form 20-F, together with such other documents and we may submit to or file with the SEC from time to time, including on Form 6-K. The forward-looking statements speak only as of this press release and we assume no duty to update them to reflect new, changing or unanticipated events or circumstances.