Gravity Co., Ltd. is a global developer and publisher of online and mobile video games, headquartered in Seoul, South Korea. The company's business model is heavily centered around its flagship intellectual property, Ragnarok, which originated as a massively multiplayer online role-playing game (MMORPG) for PC and has since expanded into a vast ecosystem of mobile and console titles. Gravity monetizes its games through a combination of micro-transactions, subscription revenues from self-published titles, and royalty and license fees from regional publishing partners.
The company operates through three primary business segments: Mobile Games, Online Games, and Others. Mobile Games represent the vast majority of the company's top line, accounting for approximately 80% to 82% of total revenues. This segment is driven by titles such as Ragnarok M: Eternal Love, Ragnarok Origin, and Ragnarok X: Next Generation. The Online Games segment, which includes the legacy Ragnarok Online PC game and Ragnarok Landverse, contributes roughly 15% to 16% of revenues. The Others segment generates the remainder through character-based merchandise, animation, console games, and system development services.
Geographically, Gravity has a strong footprint across Asia, with significant revenue streams originating from South Korea, Taiwan, Hong Kong, Macau, Thailand, and broader Southeast Asia, alongside a growing presence in the Americas. The company operates as a subsidiary of GungHo Online Entertainment, Inc., which holds a majority stake. Gravity's competitive position is anchored by the enduring popularity of the Ragnarok franchise, allowing it to continuously launch new iterations and localized versions of the game across different platforms and international markets.
