NASDAQ, GRVY - Gravity Ltd ADR
We were incorporated as a company with limited liability under Korean law on
April 4, 2000 under the legal name of GRAVITY Co., Ltd. In March 2003, we
established GRAVITY Interactive, LLC, our wholly-owned subsidiary in the United
States. The name of GRAVITY Interactive, LLC was changed on January 1, 2006 to
GRAVITY Interactive, Inc. In January 2004, we acquired 50% of the voting shares
of GRAVITY Entertainment Corporation, formerly RO Production Co., Ltd., our
subsidiary in Japan. In October 2004, we obtained from GungHo Online
Entertainment, Inc., then the other 50% shareholder of RO Production Co., Ltd,
their ownership interest in RO Production Co., Ltd., which made GRAVITY
Entertainment our wholly-owned subsidiary. RO Production changed its corporate
name to GRAVITY Entertainment Corporation on February 5, 2005. In April and May
2005, we acquired an aggregate of 88.15% equity interest in TriggerSoft
Corporation, which developed our R.O.S.E. Online game. ...