General Information

12 Months Ended

Dec. 31, 2023

General Information [Abstract]

General Information

General Information

The Parent Company

GRAVITY CO., LTD. (“the Parent Company”) was incorporated on April 4, 2000, to engage in developing and publishing online and mobile games and other related business. The Parent Company’s headquarter is located at 15F, 396 World Cup buk-ro, Mapo-gu, Seoul, Korea. The Parent Company’s principal game product, “Ragnarok”, a massive multi-player online role-playing game, was commercially launched in August 2002, and currently operated internationally in 91 markets. Also, the Parent Company has been operating Mobile games such as Ragnarok M: Eternal Love and Ragnarok Origin in the global market.

On February 8, 2005, the Parent Company listed its shares on the Nasdaq Stock Market in the United States, and issued 1,400,000 shares of common stocks in the form of American Depositary shares (“ADSs”) under the symbol “GRVY”.

As of December 31, 2023, the Parent Company’s total paid-in capital amounts to Korean Won("Won") 3,474 million. The Parent Company’s major shareholders and their respective percentage of ownership as of December 31, 2023 are as follows:

	Number of shares	Ownership (%)
GungHo Online Entertainment, Inc.	4,121,737	59.31
Others	2,827,163	40.69
	6,948,900	100.00

Consolidated Subsidiaries

Details of the consolidated subsidiaries as of December 31, 2023 and 2022 are as follows:

		Percentage of ownership (%)
Subsidiary	Location	2023	2022	Fiscal year end	Main business
Gravity Interactive, Inc.	U.S.A.	100.00	100.00	December	Online and mobile game services
Gravity NeoCyon, Inc.	Korea	99.53	99.53	December	Mobile game development and service
Gravity Communications Co.,Ltd.	Taiwan	100.00	100.00	December	Online and mobile game services
PT. Gravity Game Link	Indonesia	70.00	70.00	December	Online and mobile game services
Gravity Game Tech Co.,Ltd.	Thailand	100.00	100.00	December	Online and mobile game services
Gravity Game Arise Co., Ltd.	Japan	100.00	100.00	December	Online and mobile game services
Gravity Game Hub PTE., Ltd.	Singapore	100.00	100.00	December	Online and mobile game services
Gravity Game Vision Limited.	Hong Kong	100.00	100.00	December	Online and mobile game services

Condensed Financial Information of Subsidiaries

Details of the condensed financial information of subsidiaries as of and for the year ended December 31, 2023 and 2022 are as follows:

	2023
Subsidiaries	Total assets(*)		Total liabilities(*)		Revenue(*)		Profit(loss) For the year(*)
	(In millions of Korean won)
Gravity Interactive, Inc.	₩	23,445	₩	13,671	₩	49,818	₩	1,113
Gravity NeoCyon, Inc.	11,747		5,784		19,408		(1,270)
Gravity Communications Co., Ltd.	35,754		9,227		33,122		10,116
PT Gravity Game Link	2,461		303		2,234		(103)
Gravity Game Tech Co., Ltd.	50,672		8,081		30,604		11,308
Gravity Game Arise Co., Ltd.	7,058		1,683		3,807		(5,393)
Gravity Game Hub PTE., Ltd.	74,229		37,718		287,950		34,160
Gravity Game Vision Limited	51,811		10,753		145,653		23,547

(*) Amount before eliminating the intercompany transactions.

	2022
Subsidiaries	Total assets(*)		Total liabilities(*)		Revenue(*)		Profit(loss) For the year(*)
	(In millions of Korean won)
Gravity Interactive, Inc.	₩	32,143	₩	23,617	₩	62,745	₩	(2,448)
Gravity NeoCyon, Inc.	15,587		8,353		24,639		1,710
Gravity Communications Co., Ltd.	39,438		11,161		50,611		14,186
PT Gravity Game Link	3,268		1,090		3,372		(374)
Gravity Game Tech Co., Ltd.	40,204		9,740		34,990		9,975
Gravity Game Arise Co., Ltd.	3,067		988		3,452		(505)
Gravity Game Hub PTE., Ltd.	4,846		2,726		4,352		(3,081)
Gravity Game Vision Limited	63,608		46,146		116,550		17,090

(*) Amounts before eliminating the intercompany transactions.