Gravity

The company's most significant achievement is the creation of the massively multiplayer online role-playing game (MMORPG), Ragnarok Online, which was launched in South Korea on August 31, 2002. Based on a manhwa by Lee Myung-jin, Ragnarok Online's mythos draws heavily from Norse mythology. The game became a global success, particularly popular in markets like Japan and Taiwan, and is now commercially offered in 91 markets. This success led to Gravity's IPO on the NASDAQ stock exchange on February 8, 2005, making it the first Korean game company to be listed on the exchange. Over the years, the company experienced shifts in leadership and ownership. Co-founder Kim Hakkyu left the company in 2002 due to internal conflicts with chairman Kim Jung-ryool. In 2005, Kim Jung-ryool sold his controlling stake to Japanese companies EZER and Techno Groove. Subsequently, in 2008, GungHo Online Entertainment, an affiliate of Softbank Group, acquired a majority stake in Gravity.

Gravity's business model is centered on developing and publishing online and mobile games. Revenue is primarily generated through its online and mobile game segments. For its online games, the business model includes subscriptions and in-game monetization. The company also generates income from character-based merchandise, animation, and licensing its intellectual property. Gravity operates on a "One Source Multi Use" strategy, expanding the Ragnarok IP into various forms of entertainment content. The company's client base consists of online and mobile gamers globally, with a strong presence in Asia, North and South America, and Europe. Gravity has established several subsidiaries to manage publishing and operations in different regions, including Gravity Interactive in North America, Gravity Game Tech in Thailand, and Gravity Game Arise in Japan.

The company's flagship product, Ragnarok Online, is an MMORPG that allows players to create and customize virtual characters for adventures in a 3D environment with 2D character sprites. The game features various modes, including Player vs Environment, Guild vs Guild, and Player vs Player. Building on this success, Gravity has expanded the Ragnarok franchise to include numerous titles for PC and mobile devices such as Ragnarok Online 2, Ragnarok M: Eternal Love, Ragnarok Origin, and the NFT-based Ragnarok Labyrinth NFT. Beyond the Ragnarok series, the company has developed and published other games like Requiem: Bloodymare and Dragonica, and has also provided games for consoles like Nintendo DS and Xbox 360.