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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001362310-08-000033.txt : 20080107
<SEC-HEADER>0001362310-08-000033.hdr.sgml : 20080107
<ACCEPTANCE-DATETIME>20080107090129
ACCESSION NUMBER:		0001362310-08-000033
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070108
FILED AS OF DATE:		20080107
DATE AS OF CHANGE:		20080107

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GRAVITY Co., Ltd.
		CENTRAL INDEX KEY:			0001313310
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			M5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51138
		FILM NUMBER:		08513808

	BUSINESS ADDRESS:	
		STREET 1:		14/F MERITZ TOWER, 825-2 YEOKSAM-DONG
		STREET 2:		GANGNAM-GU
		CITY:			SEOUL
		STATE:			M5
		ZIP:			135-934
		BUSINESS PHONE:		82-2-2019-6000

	MAIL ADDRESS:	
		STREET 1:		14/F MERITZ TOWER, 825-2 YEOKSAM-DONG
		STREET 2:		GANGNAM-GU
		CITY:			SEOUL
		STATE:			M5
		ZIP:			135-934
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>c72019e6vk.htm
<DESCRIPTION>6-K
<TEXT>
<HTML>
<HEAD>
<TITLE>Filed by Bowne Pure Compliance</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.5in">

<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 10pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 10pt"><B>Form&nbsp;6-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 10pt"><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR<BR>
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>For the month of January, 2008<BR>
Commission File Number 000-51138</B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 10pt"><B><FONT style="border-bottom: 1px solid #000000">GRAVITY Co., Ltd.</FONT></B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Translation of registrant&#146;s name into English)</DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><FONT style="border-bottom: 1px solid #000000">Meritz Tower 14F, 825-2 Yeoksam-Dong, Gangnam-Gu, Seoul 135-934 Korea</FONT><BR>
(Address of principal executive office)
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Indicate by check mark whether the registrant files or will file annual reports under cover of
Form 20-F or Form 40-F:
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><FONT face="Wingdings">&#254;</FONT> Form&nbsp;20-F &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Wingdings">&#111;</FONT> Form&nbsp;40-F
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation&nbsp;S-T Rule&nbsp;101(b)(1): <FONT face="Wingdings">&#111;</FONT>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation&nbsp;S-T Rule&nbsp;101(b)(7): <FONT face="Wingdings">&#111;</FONT>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">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&nbsp;12g3-2(b) under the
Securities Exchange Act of 1934:
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><FONT face="Wingdings">&#111;</FONT> Yes &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Wingdings">&#254;</FONT> No
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in connection with
Rule&nbsp;12g3-2(b): <U>n/a</U>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>




<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="margin-left: 0.25in; width: 7.5in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="center"><B>Court Approves Gravity Class&nbsp;Action Settlement</B>

<P style="font-size: 10pt" align="left">Seoul, Korea, January&nbsp;7, 2008
&#8211; Gravity Co., Ltd. (NASDAQ: GRVY, the &#8220;Company&#8221;), an online
game developer and publisher, announced today that the federal judge presiding
over the consolidated class action entitled <I>Blackmoss Investments Inc. vs.
Gravity Co., Ltd.</I>, No.&nbsp;1:05-CV-04804-LAP, which was pending in the
United States District Court for the Southern District of New York, approved
the previously-disclosed settlement of the class action on November&nbsp;21,
2007. In addition, no plaintiff has filed an appeal during the 30-day time
appeal period which expired on December&nbsp;21, 2007.

<P style="font-size: 10pt" align="left">Under the terms of the settlement, a
fund of US $10&nbsp;million will be created to settle the claims of a class
consisting of persons who purchased American Depository Shares of the Company
during the period from February&nbsp;7, 2005 through November&nbsp;10, 2005,
inclusive. The Company&#8217;s share of the settlement fund will be US
$5&nbsp;million. Costs of administering the settlement, as well as
Plaintiffs&#8217; attorneys&#8217; fees of 20.56% of the settlement amount and
related expenses will be paid out of the settlement fund before distributions
are made to class members. In exchange, the Company, its current and former
directors and officers as well as other third parties will be released from
liability for the claims asserted by the class.

<P style="font-size: 10pt" align="left">The Company has denied and continues to
deny any and all allegations of wrongdoing in connection with this matter, but
believes that given the uncertainties and costs associated with the litigation,
the settlement was in the best interests of the Company and its shareholders.

<P style="font-size: 10pt" align="left"><B>About GRAVITY Co., Ltd.</B>

<P style="font-size: 10pt" align="left">Based in Korea, Gravity is a developer and publisher of online games.
Gravity&#8217;s principal product, <I>Ragnarok Online&#8482;</I>, is a popular
online game in many markets, including Japan, Taiwan and Thailand, and is
currently commercially offered in 22 markets. For more information about
Gravity, please visit <U>http://www.gravity.co.kr</U>.

<P style="font-size: 10pt" align="center">

<P style="display: none; font-size: 10pt" align="center">1
</DIV>

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<DIV style="margin-left: 0.25in; width: 7.5in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="left"><B>Forward-Looking Statements:</B>

<P style="font-size: 10pt" align="left">Certain statements in this press
release may include, in addition to historical information,
&#8220;forward-looking statements&#8221; within the meaning of the
&#8220;safe-harbor&#8221; provisions of the U.S. Private Securities Litigation
Reform Act 1995. Forward-looking statements can generally be identified by the
use of forward-looking terminology, such as &#8220;may,&#8221;
&#8220;will,&#8221; &#8220;expect,&#8221; &#8220;intend,&#8221;
&#8220;estimate,&#8221; &#8220;anticipate,&#8221; &#8220;believe&#8221;
&#8220;project,&#8221; or &#8220;continue&#8221; or the negative thereof or
other similar words, although not all forward-looking statements contain these
words. Investors should consider the information contained in our submissions
and filings with the United States Securities and Exchange Commission (the
&#8220;SEC&#8221;), including our registration statement on Form F-1, as
amended, and our annual reports on Form 20-F, together with such other
documents and we may submit to or file with the SEC from time to time, on Form
6-K. The forward-looking statements speak only as of this press release and we
assume no duty to update them to reflect new, changing or unanticipated events
or circumstances.

<P style="font-size: 10pt" align="left"><B>Contact:</B>

<P style="font-size: 10pt" align="left">Mr.&nbsp;Jonathan J. Lee

<P style="font-size: 10pt" align="left">Chief Financial Officer / Investor
Relations Officer <BR>
Gravity Co., Ltd. <BR>
Email: <U>jlee@gravity.co.kr</U>
<BR>
Telephone: +822-2019-6021

<P style="font-size: 10pt" align="center"># # #

<P style="font-size: 10pt" align="center">

<P style="display: none; font-size: 10pt" align="center">2
</DIV>

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style="margin-left: 0.25in; width: 7.5in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="center"><B>SIGNATURES</B>

<P style="font-size: 10pt" align="left"> <BR>
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. &nbsp;

<P style="font-size: 10pt; margin-left: 45%" align="left">GRAVITY Co., Ltd.

<P style="font-size: 10pt" align="left">&nbsp;<BR>
Date: 01/07/2008

<P style="font-size: 10pt; margin-left: 45%" align="left">By: /s/
Jonathan J. Lee<BR>
Name: Jonathan J. Lee<BR>
Title: Chief Financial Officer
and Investor Relations Officer<BR>


<P style="font-size: 10pt" align="center">

<P style="display: none; font-size: 10pt" align="center">3
</DIV>
</DIV>
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