Gravity Announces Filing of Annual Report on Form 20-F for Fiscal Year 2016

GRAVITY ANNOUNCES FILING OF ANNUAL REPORT ON FORM 20-F FOR FISCAL YEAR 2016

Seoul, South Korea – April 28, 2017 – GRAVITY Co., Ltd. (NasdaqCM: GRVY) (“Gravity” or the “Company”) today announced that the Company filed its annual report on Form 20-F for the fiscal year ended December 31, 2016 with the Securities and Exchange Commission on April 28, 2017. The annual report can be accessed on the Company’s investor relations Web site at http://www.gravity.co.kr/en/ir/notice/list.asp

The shareholders and ADS holders of Gravity may receive a hard copy of the annual report, which contains its audited consolidated financial statements, free of charge upon request. Requests should be directed to IR Unit, Gravity Co., Ltd., 15F, 396 World Cup buk-ro, Mapo-gu, Seoul 121-795, South Korea

About GRAVITY Co., Ltd. ---------------------------------------------------

Based in Korea, Gravity is a developer and publisher of online and mobile games. Gravity's principal product, Ragnarok Online, is a popular online game in many markets, including Japan and Taiwan, and is currently commercially offered in 80 markets and countries. For more information about Gravity, please visit http://www.gravity.co.kr.

Contact:

Mr. Heung Gon Kim Chief Financial Officer Gravity Co., Ltd. Email: kheung@gravity.co.kr

Ms. Ji Hee Kim IR Manager Gravity Co., Ltd. Email: ircommunication@gravity.co.kr Telephone: +82-2-2132-7800

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