Gravity Develops Markets for 'Ragnarok Online' With Its Blue Ocean Strategy.SEOUL, South Korea -- Gravity Co., Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :GRVY)(the "Company"), an online game developer and publisher, has announced that the Company is going to commence open beta testing (programming) beta testing - Testing a pre-release (potentially unreliable) version of a piece of software by making it available to selected users. This term derives from early 1960s terminology for product cycle checkpoints, first used at IBM but later standard throughout the for the French version of Ragnarok Online(TM) in the francophone countries in Europe, including France on January 12, 2007. The Company has established Gravity EU SASU SASU Société par Actions Simplifiée Unipersonnelle (French: One-Man Simplified Joint Stock Company) SASU Software Application Support Plus Upgrades SASU Serviço de Atendimento de Situações Urgentes (Portugal) , a wholly-owned subsidiary of the Company for the purpose of providing online game services in anticipation and consideration of the potential growth of this region. France has been recognized over the years as the center of animation and video game industry in Europe. Gravity has also announced that it is planning to commence commercial service of Ragnarok Online(TM) in The Commonwealth of Independent States Commonwealth of Independent States (CIS), community of independent nations established by a treaty signed at Minsk, Belarus, on Dec. 8, 1991, by the heads of state of Russia, Belarus, and Ukraine. Between Dec. 8 and Dec. (or CIS Cis (sĭs), same as Kish (1.) (1) (CompuServe Information Service) See CompuServe. (2) (Card Information S ) by the first quarter of 2007. The Company believes that this region, with a population of nearly 300 million in total, is well-positioned for significant growth in the future. Gravity has acquired the company which offered the open beta testing of Ragnarok Online(TM) in Russia since July 2005, and is now Gravity's subsidiary, with the company being renamed Gravity CIS, Inc. As Ragnarok Online(TM) is the first blockbuster MMORPG (Massively Multiuser Online Role Playing Game) A role playing game on the computer played by many people. An MMORPG differs from a regular computer role playing game because its environment is perpetual. (Massively Multi-player Online Role Playing Game See CRPG. ) in CIS, the Company expects that they will have a leading role in the future growth of the online gaming market in CIS. Gravity has made efforts to enhance its online game service in the overseas markets with the object of reinforcing its global network since 2005. The Company has taken a big step towards to realize its core value by establishing its own service structure for online game publishing in Europe and CIS and which are expected to achieve considerable growth. Mr. Il Young Ryu Ryū (竜 or りゅう or リュウ Ryū , the chairman and the chief executive officer of Gravity commented, "We are pleased to have established subsidiaries in the U.S., CIS and Europe as bridgeheads to provide online game services directly to users in these regions. It is a part of our strategy to enhance the Company's overseas publishing ability, which has been constantly driven since the change of control in 2005. We affirm our firm commitment to enhance our direct publishing network for online game services in some of important markets which is expected to achieve a considerable growth and also to reinforce the cooperation with our existing local partners to order to expand the Company's overseas revenues." About GRAVITY Co., Ltd. Based in Korea, Gravity is a developer and distributor of online games. Gravity's principal product, Ragnarok Online, is a popular online game in many markets, including Japan, Taiwan and Thailand, and is currently commercially offered in 21 markets. For more information about Gravity, please visit http://www.gravity.co.kr. Forward-Looking Statements: Certain statements in this press release may include, in addition to historical information, "forward-looking statements" within the meaning of the "safe-harbor" provisions of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Please make reference to the Company's filings with the United States Securities and Exchange Commission for further information on what constitutes "forward-looking statements". |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion