GRAVITY Co., Ltd. - Form 6-K

Washington, D.C. 20549

Form 6-K

PURSUANT TO RULE 13a-16 OR 15d-16

For the month of October, 2005

(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
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):    n/a 

Gravity's Ragnarok Online Expands into South America 
SEOUL, South Korea, October 4, 2005 - Gravity Co., Ltd. (Nasdaq: GRVY), an  
online game developer and distributor, today announced that its principal game  
title, Ragnarok Online, has entered into a licensing agreement with its Chilean 
partner, Gamerpro S.A., with a view to offering the Spanish version of Ragnarok 
Online in over 20 countries in South America and Spain. 
Mr. Ryu Il Young, CEO of Gravity, commented, “Gravity continues to expand the  
reach of Ragnarok Online.  As we continue to broaden our business scope through 
our global network, we believe that our model of using capable local partners  
in localizing and supporting our titles enables us to provide the most engaging 
and entertaining gaming experience to gamers worldwide.” 
Gamerpro is a game publisher based in Chile, which distributes Trading Card  
Games(TCG), including Pocket Monster, Magic the Gathering and Dungeons &  
Dragons, throughout South America. 
About GRAVITY Co., Ltd. 
Based in Korea, Gravity is a developer and distributor of online games. The  
Company's principal product, Ragnarok Online, is a popular online game in many  
markets, including Japan, Taiwan and Thailand, and is currently commercially  
offered in 20 markets.  For more information visit 
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,” “belie 
ve,” “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. 
# # # 
In Korea: 
John C. Chung 
Tel: 82-2-3485-1002	 
In the U.S.: 
David Pasquale, EVP 
The Ruth Group 
Tel: +646-536-7006 

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: 10/04/2005 By: /s/John C. Chung

  Name:  John C. Chung
  Title: Investor Relations Officer