<SEC-DOCUMENT>0001628280-23-011446.txt : 20230413
<SEC-HEADER>0001628280-23-011446.hdr.sgml : 20230413
<ACCEPTANCE-DATETIME>20230413062339
ACCESSION NUMBER:		0001628280-23-011446
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20230413
FILED AS OF DATE:		20230413
DATE AS OF CHANGE:		20230413

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:		23816985

	BUSINESS ADDRESS:	
		STREET 1:		15F, 396 WORLD CUP BUK-RO
		STREET 2:		MAPO-GU
		CITY:			SEOUL
		STATE:			M5
		ZIP:			121-795
		BUSINESS PHONE:		82-2-2132-7800

	MAIL ADDRESS:	
		STREET 1:		15F, 396 WORLD CUP BUK-RO
		STREET 2:		MAPO-GU
		CITY:			SEOUL
		STATE:			M5
		ZIP:			121-795
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a6-k_20230413xconsolidated.htm
<DESCRIPTION>6-K
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
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<title>Document</title></head><body><div id="i70ac756ff085430faaed917925412dc0_1"></div><div style="min-height:0pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION<br>Washington, D.C. 20549</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%"> </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Form 6-K</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 </font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">For the month of April 2023</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Commission File Number 000-51138</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">GRAVITY Co., Ltd.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><br>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(Translation of registrant&#8217;s name into English)</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15F, 396 World Cup buk-ro, Mapo-gu, Seoul 03925, Korea</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212; <br>(Address of principal executive office)</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F&#58;&#160;&#160;&#91;x&#93;&#160;Form 20-F&#160;&#160;&#160;&#160;&#91;&#160;&#93;&#160;Form 40-F</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">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)&#58;&#160;&#160;&#91;&#160;&#93;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">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)&#58;&#160;&#160;&#91;&#160;&#93;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:0pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:justify"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:0pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="margin-top:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Samil PricewaterhouseCoopers, our independent auditor for the fiscal year ended December 31, 2022 (KPMG Samjong was our independent auditor for the fiscal year ended December 31, 2021) for our consolidated financial statements in conformity with International Financial Reporting Standards as adopted by the Republic of Korea, or Korean IFRS, have conducted audits and expressed opinions with regards to the consolidated statements of financial position of Gravity Co.,&#160;Ltd. (the &#8220;Company&#8221;) and its subsidiaries as of December 31, 2022 and the related consolidated statements of comprehensive income, changes in equity, and cash flows for the year ended at December 31, 2022, expressed in Korean Won.</font></div><div style="margin-top:12pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Samil PricewaterhouseCoopers, our independent auditor for the fiscal year ended December 31, 2022 (KPMG Samjong was our independent auditor for the fiscal year ended December 31, 2021) has also conducted audits and expressed opinions with regards to the separate statements of financial position of the Company as of December 31, 2022 and the related separate statements of comprehensive income, changes in equity, and cash flows for the year then ended at December 31, 2022, expressed in Korean Won. </font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">The audited consolidated financial statements and the audited separate financial statements are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively, and are incorporated herein by reference.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-top:6pt;padding-right:-30.4pt;text-align:center;text-indent:-9pt"><font><br></font></div><div style="height:0pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:justify"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:0pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="padding-right:-30.4pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:13.5pt;font-weight:700;line-height:100%">SIGNATURES</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#160; </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">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. </font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160; </font></div><div style="height:0pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:justify"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:0pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160; </font></div><div style="padding-left:260.04pt;text-align:right"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:42.364%"><tr><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:78.900%"></td><td style="width:0.1%"></td></tr><tr style="height:0pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:133%">GRAVITY CO., LTD.</font></td></tr><tr style="height:24pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:133%">By&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:133%">&#47;s&#47;&#160;Heung Gon Kim</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:133%">Name&#58;</font></td><td colspan="3" style="border-top:0.75pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:133%">Heung Gon Kim</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:133%">Title&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:133%">Chief Financial Officer</font></td></tr></table></div><div style="margin-top:9pt;padding-left:12.2pt;text-align:justify;text-indent:-12.25pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Date&#58; April 13, 2023</font></div><div style="margin-top:6pt;padding-right:-40.9pt;text-align:center"><font><br></font></div><div style="height:0pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:justify"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:0pt;width:100%"><div style="text-align:justify"><font><br></font></div></div><div style="padding-right:-40.9pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Exhibit Index</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.856%"><tr><td style="width:1.0%"></td><td style="width:16.738%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.544%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:78.318%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:133%;text-decoration:underline">Exhibit No.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:133%;text-decoration:underline">Description</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">99. 1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt;text-align:justify"><font style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="gravity_2022yeauditreportc.htm" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">The Company&#8217;s Korean IFRS Consolidated financial statements as of and for the years ended December 31, 2022 and December 31, 2021 and the independent auditor&#8217;s report</a></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">99. 2</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.75pt;padding-right:2.75pt;text-align:justify"><font style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"><a href="gravity_2022yeauditreports.htm" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">The Company&#8217;s Korean IFRS </a><a href="gravity_2022yeauditreports.htm" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline">Separate</a><a href="gravity_2022yeauditreports.htm" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%;text-decoration:underline"> financial statements as of and for the years ended December 31, 2022 and December 31, 2021 and the independent auditor&#8217;s report</a></font></div></td></tr></table></div><div style="margin-bottom:7.2pt;text-align:right"><font><br></font></div><div style="height:0pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:justify"><font><br></font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>gravity_2022yeauditreportc.htm
<DESCRIPTION>EX-99.1
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head>
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<title>Document</title></head><body><div id="ie40843b165004d75a6391541646392d4_38"></div><div style="min-height:108pt;width:100%"><div><font><br></font></div></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:24pt;font-weight:700;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font><br></font></div><div style="padding-right:-21.4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:14pt;font-weight:400;line-height:133%">Consolidated Financial Statements</font></div><div style="padding-right:-21.4pt"><font><br></font></div><div style="padding-right:-21.4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:133%">For the Years Ended December 31, 2022 and 2021</font></div><div style="padding-right:-21.4pt"><font><br></font></div><div style="padding-left:28.8pt;text-indent:-28.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(With Independent Auditors&#8217; Report Thereon)</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:14pt;font-weight:700;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="height:42.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="ie40843b165004d75a6391541646392d4_41"></div><hr style="page-break-after:always"><div style="min-height:70.56pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:12pt;text-align:right"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font style="color:#000080;font-family:'Calibri',sans-serif;font-size:14pt;font-weight:400;line-height:115%">Contents</font></div><div style="margin-bottom:12pt"><font><br></font></div><div style="margin-bottom:12pt;text-align:right"><font><br></font></div><div style="margin-bottom:12pt;text-align:right"><font><br></font></div><div style="margin-bottom:12pt;text-align:right"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page</font></div><div style="margin-bottom:12pt"><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Independent Auditors&#8217; Report</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;1</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Consolidated Financial Statements</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Consolidated Statements of Financial Position&#160;&#160;&#160;&#160;3</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Consolidated Statements of Comprehensive Income&#160;&#160;&#160;&#160;5</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Consolidated Statements of Changes in Equity&#160;&#160;&#160;&#160;6</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Consolidated Statements of Cash Flows&#160;&#160;&#160;&#160;7</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements&#160;&#160;&#160;&#160;8</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:42.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div><div id="ie40843b165004d75a6391541646392d4_44"></div><hr style="page-break-after:always"><div style="min-height:70.56pt;width:100%"><div><font><br></font></div></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:14pt;font-weight:400;line-height:115%">Independent Auditors&#8217; Report</font></div><div style="margin-bottom:6.5pt;margin-top:6.5pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">English Translation of a Report Originally Issued in Korean</font></div><div style="margin-bottom:6.5pt;margin-top:6.5pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">To the Board of Directors and Shareholders of Gravity Co., Ltd.&#58;</font></div><div><font><br></font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:139%">Opinion</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">We have audited the accompanying consolidated financial statement of Gravity Co., Ltd. and its subsidiaries (collectively referred to as the &#8221;Group&#8221;), which comprise the consolidated statement of financial position as of December 31, 2022, and the consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the year then ended, and notes to the consolidated financial statement, including a summary of significant accounting policies.</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of Gravity Co., Ltd. and its subsidiaries as of December 31, 2022, and its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (Korean IFRS).</font></div><div style="margin-top:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Basis for Opinion</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">We conducted our audit in accordance with Korean Standards on Auditing (KSAs). Our responsibilities under those standards are further described in the </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Auditors&#8217; Responsibilities for the Audit of the Consolidated Financial Statements</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> section of our report. We are independent of the Group in accordance with the ethical requirements of the Republic of Korea that are relevant to our audit of the consolidated financial statements and we have fulfilled our other ethical responsibilities in accordance with the ethical requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.</font></div><div style="margin-top:18pt;text-align:justify"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other Matter</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The consolidated financial statements of the Group for the year ended December 31, 2021 were audited by KPMG Samjong Accounting Corp. who expressed an unqualified opinion on those statements on March 23, 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Auditing standards and their application in practice vary among countries. The procedures and practices used in the Republic of Korea to audit such consolidated financial statements may differ from those generally accepted and applied in other countries.</font></div><div style="margin-top:18pt;text-align:justify"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with Korean IFRS, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">In preparing the consolidated financial statements, management is responsible for assessing the Group&#8217;s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations. </font></div><div style="margin-bottom:6pt;margin-top:12pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Those charged with governance are responsible for overseeing the Group&#8217;s financial reporting process.</font></div><div style="margin-top:12pt;text-align:justify"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Auditors&#8217; Responsibilities for the Audit of the Consolidated Financial Statements</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor&#8217;s&#8217; report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with KSAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.</font></div><div><font><br></font></div><div style="height:42.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1</font></div></div></div><hr style="page-break-after:always"><div style="min-height:70.56pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As part of an audit in accordance with KSAs we exercise professional judgment and maintain professional skepticism throughout the audit. We also&#58;</font></div><div style="padding-left:9.6pt;text-align:justify;text-indent:-7.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:3.6pt">Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.</font></div><div style="padding-left:9.6pt;text-align:justify;text-indent:-7.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:3.6pt">Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group&#8217;s internal control.</font></div><div style="padding-left:9.6pt;text-align:justify;text-indent:-7.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:3.6pt">Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.</font></div><div style="padding-left:9.6pt;text-align:justify;text-indent:-7.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:3.6pt">Conclude on the appropriateness of management&#8217;s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group&#8217;s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors&#8217; report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors&#8217; report. However, future events or conditions may cause the Group to cease to continue as a going concern.</font></div><div style="padding-left:9.6pt;text-align:justify;text-indent:-7.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:3.6pt">Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.</font></div><div style="padding-left:9.6pt;text-align:justify;text-indent:-7.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:3.6pt">Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.</font></div><div style="margin-bottom:6pt;margin-top:12pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.</font></div><div style="margin-bottom:6.5pt;padding-right:1.4pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Samil PricewaterhouseCoopers</font></div><div style="margin-top:6.5pt;padding-right:1.4pt;text-align:justify"><font><br></font></div><div style="padding-right:1.4pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Seoul, Korea</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">March 23, 2023</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:12pt;padding-left:2.75pt;padding-right:2.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">This report is effective as of March 23, 2023, the audit report date. Certain subsequent events or circumstances, which may occur between the audit report date and the time of reading this report, could have a material impact on the accompanying consolidated financial statements and notes thereto. Accordingly, the readers of the audit report should understand that the above audit report has not been updated to reflect the impact of such subsequent events or circumstances, if any.</font></div></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:42.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2</font></div></div></div><div id="ie40843b165004d75a6391541646392d4_47"></div><hr style="page-break-after:always"><div style="min-height:92.16pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Consolidated Statements of Financial Position</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div><font><br></font></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:1.940%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.500%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.420%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.980%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.380%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.620%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.600%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.020%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.440%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Notes</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2021</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.4pt;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Assets</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Current assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,6,22</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">169,877,341</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">99,104,943</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Short-term financial instruments</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">167,000,000</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">148,000,000</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounts receivable, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,7,13,22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">77,256,816</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">52,614,595</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other receivables, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,7,22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">139,785</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,080,516</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Prepaid expenses</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,332,317</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,164,075</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other current financial assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,370,146</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">598,099</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other current assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">790,833</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,572,692</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">421,767,238</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">306,134,920</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Non-current assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property and equipment, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,21</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,140,129</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,337,999</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Intangible assets, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,869,478</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,342,028</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other non-current financial assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,175,769</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,018,823</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other non-current assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,481,845</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,973,064</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,659,521</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,719,489</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22,326,742</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21,391,403</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.3pt;text-align:justify;text-indent:-0.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">444,093,980</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">327,526,323</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="9" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-right:4.9pt"><font><br></font></div><div style="padding-right:4.9pt"><font><br></font></div><div style="padding-right:4.9pt"><font><br></font></div><div style="padding-right:4.9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">See accompanying notes to the consolidated financial statements.</font></div><div style="height:60.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3</font></div><div><font><br></font></div></div></div><div id="ie40843b165004d75a6391541646392d4_50"></div><hr style="page-break-after:always"><div style="min-height:92.16pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Consolidated Statements of Financial Position, Continued</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:1.925%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.436%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:31.702%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.931%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.358%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.511%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.596%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.919%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.442%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.25pt;text-align:justify;text-indent:-0.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Notes</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2021</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="9" style="padding:0 1pt"><div style="padding-left:0.3pt;text-align:justify;text-indent:-0.3pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.3pt;text-align:justify;text-indent:-0.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Liabilities</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Current liabilities</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;Accounts payable  </font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,22</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">73,549,144</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">41,199,401</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;Deferred revenue </font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18,543,037</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,480,518</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;Withholdings</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,201,011</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,596,403</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;Accrued expenses</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,040,357</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,484,019</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;Income tax payable</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,469,061</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,628,981</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;Other current liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,21,22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,907,298</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,608,153</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">105,709,908</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">73,997,475</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify;text-indent:5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Non-current liabilities</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Long-term accounts payable</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">373,989</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">729,173</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Long-term deferred revenue</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30,239</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">98,226</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other non-current liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,21,22</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,968,325</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,860,591</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,831,698</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,204,251</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,687,990</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;padding-left:0.3pt;text-align:justify;text-indent:-0.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total liabilities</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">113,914,159</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">80,685,465</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="9" style="padding:0 1pt"><div style="margin-bottom:5pt;margin-top:5pt;padding-left:0.3pt;text-align:justify;text-indent:-0.3pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;padding-left:0.3pt;text-align:justify;text-indent:-0.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Equity</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:14.2pt;text-indent:-14.2pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Equity attributable to owners of the Parent Company</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;padding-left:0.3pt;text-align:justify;text-indent:-0.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share capital</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,12</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,474,450</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,474,450</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;padding-left:0.3pt;text-align:justify;text-indent:-0.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Capital surplus</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,098,264</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,098,264</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;padding-left:0.3pt;text-align:justify;text-indent:-0.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other components of equity</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,475,675</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,180,388</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;padding-left:0.3pt;text-align:justify;text-indent:-0.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Retained earnings </font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">296,479,528</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">213,317,805</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;padding-left:0.3pt;text-align:justify;text-indent:-0.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Non-controlling interest</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">651,904</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">769,951</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;padding-left:0.3pt;text-align:justify;text-indent:-0.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total equity</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">330,179,821</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">246,840,858</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;padding-left:0.3pt;text-align:justify;text-indent:-0.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total liabilities and equity</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">444,093,980</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">327,526,323</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="padding-right:4.9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">See accompanying notes to the consolidated financial statements.</font></div><div style="height:60.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4</font></div><div><font><br></font></div></div></div><div id="ie40843b165004d75a6391541646392d4_53"></div><hr style="page-break-after:always"><div style="min-height:92.16pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Consolidated Statements of Comprehensive Income</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">For the years ended December 31, 2022 and 2021</font></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:47.302%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.324%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.758%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.414%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.270%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.237%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.758%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.837%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won, except per share amounts)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Notes</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</font></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Revenues</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,23,24</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Online games</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">89,256,406</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">75,370,395</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Mobile games</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">358,771,544</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">320,163,555</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;Other revenue</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,589,922</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18,404,024</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">463,617,872</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">413,937,974</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cost of revenues</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">267,365,143</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">224,172,902</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Gross profit</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">196,252,729</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">189,765,072</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Selling, general and administrative expenses</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,15</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">91,410,933</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">92,201,177</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Operating profit</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">104,841,796</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">97,563,895</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Non-operating income and expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance income </font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,16</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,953,466</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,268,535</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance costs</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,16</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(10,779,361)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,686,170)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other non-operating income</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">605,316</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">606,731</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other non-operating expenses</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(739,440)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,452,459)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Profit before income tax expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">109,881,777</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">99,300,532</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Income tax expense</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26,824,189</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">33,420,741</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Profit for the year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">83,057,588</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">65,879,791</font></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Profit (loss) attributable to&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Owners of the Parent Company</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">83,161,723</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">65,946,650</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-controlling interests</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(104,135)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(66,859)</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other comprehensive income</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:5.9pt;padding-right:35pt;text-indent:-5.9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Items that are or may be reclassified subsequently to profit or loss</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:35pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:35pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign currency translation adjustments</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">285,034</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,273,897</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Items that will not be reclassified to profit or loss</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Remeasurement of defined benefit liabilities</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,659)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,761)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total comprehensive income for the year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">83,338,963</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">69,150,927</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total comprehensive income (loss) attributable to&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Owners of the Parent Company</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">83,457,010</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">69,171,571</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Non-controlling interests</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(118,047)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(20,644)</font></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Earnings per share attributable to the equity holders of the Parent Company</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Basic earnings per share (in won)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,968</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,490</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Diluted earnings per share (in won)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,968</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,490</font></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div style="padding-right:4.9pt"><font><br></font></div><div style="padding-right:4.9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">See accompanying notes to the consolidated financial statements.</font></div><div style="height:59.76pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5</font></div></div></div><div id="ie40843b165004d75a6391541646392d4_56"></div><hr style="page-break-after:always"><div style="min-height:110.16pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Consolidated Statements of Changes in Equity</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">For the years ended December 31, 2022 and 2021 </font></div></div><div><font><br></font></div><div style="text-align:center"><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.250%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.212%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.332%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.315%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.758%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.807%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.830%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.456%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.212%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.765%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.830%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.693%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.830%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.838%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.830%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.735%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.830%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.777%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Equity attributable to owners of the Parent Company</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Notes</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Share</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">capital</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Capital</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">surplus</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other components of equity</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Retained earnings</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Sub total</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Non-controlling interests</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total equity</font></div></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at January 1, 2021</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,474,450</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,109,803</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,044,533)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">147,371,155</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">176,910,875</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">437,141</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">177,348,016</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Profit for the year</font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">65,946,650</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">65,946,650</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(66,859)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">65,879,791</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Transactions with owners</font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(11,539)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(11,539)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">353,454</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">341,915</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Remeasurements of defined benefit liabilities</font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,933)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,933)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(828)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,761)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign currency translation adjustments</font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,226,854</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,226,854</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">47,043</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,273,897</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at December 31, 2021</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,474,450</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,098,264</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,180,388</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">213,317,805</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">246,070,907</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">769,951</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">246,840,858</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at January 1, 2022</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,474,450</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,098,264</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,180,388</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">213,317,805</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">246,070,907</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">769,951</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">246,840,858</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Profit for the year</font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">83,161,723</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:20pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">83,161,723</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(104,135)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">83,057,588</font></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:15pt;text-indent:-5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Remeasurements of defined benefit liabilities</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,561)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,561)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,098)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,659)</font></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:15pt;text-indent:-5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign currency translation adjustments</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:15pt;text-indent:-5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">297,848</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">297,848</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(12,814)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">285,034</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at December 31, 2022</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,474,450</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,098,264</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,475,675</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">296,479,528</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">329,527,917</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">651,904</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">330,179,821</font></div></td></tr><tr style="height:13pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="padding-right:4.9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">See accompanying notes to the consolidated financial statements.</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6</font></div></div></div><div id="ie40843b165004d75a6391541646392d4_59"></div><hr style="page-break-after:always"><div style="min-height:110.16pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Consolidated Statements of Cash Flow</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">For the years ended December 31, 2022 and 2021 </font></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.684%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.987%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.416%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.265%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.151%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.416%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.111%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.416%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.154%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Notes</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</font></td></tr><tr style="height:13pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cash flows from operating activities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Profit for the year</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">83,057,588</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">65,879,791</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:17.4pt;text-indent:-7.4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Adjustments </font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">31,362,848</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">40,575,779</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Changes in operating assets and liabilities</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10,254,125</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,883,876)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Interest received</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,032,676</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">995,149</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Interest paid</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(121,724)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(111,416)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Income taxes paid</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(29,306,861)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(30,272,469)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net cash provided by operating activities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">98,278,652</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">74,182,958</font></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"><div style="padding-left:24.8pt;text-indent:-6.8pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cash flows from investing activities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Decrease in other current financial asset</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,099</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Proceeds from disposal of property and equipment</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,609</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,850</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Proceeds from disposal of intangible assets</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,861</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Decrease in other non-current financial assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">594,774</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Increase in short-term financial instruments</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(19,000,000)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(77,000,000)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Purchase of property and equipment</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(739,413)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,747,427)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Purchase of intangible assets</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,055,632)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,463,914)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Increase in other current financial assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(200)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Increase in other non-current financial assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(564,908)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,883,900)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net cash used in investing activities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(22,340,445)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(82,471,756)</font></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cash flows from financing activities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Proceeds from capital contribution from non-controlling interests</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">353,454</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Payment of share issuance costs</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(11,539)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Repayment of lease liabilities</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">21</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,917,977)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,647,934)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net cash used in financing activities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,917,977)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3,306,019)</font></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:110%">Effects of exchange rate changes on cash and cash equivalents</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,247,832)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">67,278</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:110%">Net increase (decrease) in cash and cash equivalents</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">70,772,398</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(11,527,539)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:110%">Cash and cash equivalents at beginning of the year</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">99,104,943</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">110,632,482</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:110%">Cash and cash equivalents at end of the year</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.5pt;padding-right:2.5pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">169,877,341</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">99,104,943</font></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div style="padding-right:4.9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">See accompanying notes to the consolidated financial statements.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7</font></div></div></div><div id="ie40843b165004d75a6391541646392d4_62"></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">1.  General Information</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(1) The Parent Company</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">GRAVITY CO., LTD. (&#8220;the Parent Company&#8221;) was incorporated on April 4, 2000, to engage in developing and publishing online and mobile games, and other related business. The Parent Company&#8217;s headquarter is located at 15F, 396 World Cup buk-ro, Mapo-gu, Seoul, Korea. The Parent Company&#8217;s principal game product, &#8220;Ragnarok&#8221;, a massive multi-player online role-playing game, was commercially launched in August 2002, and currently operated internationally in 91 markets. The Parent Company also operates many other games. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">On February 8, 2005, the Parent Company listed its shares on the Nasdaq Stock Market in the United States, and issued 1,400,000 shares of common stocks in the form of American Depositary shares (&#8220;ADSs&#8221;) under the symbol &#8220;GRVY&#8221;.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">As of December 31, 2022, the Parent Company&#8217;s total paid-in capital amounts to </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">3,474,450 thousand. The Parent Company&#8217;s major shareholders and their respective percentage of ownership as of December 31, 2022 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:85.755%"><tr><td style="width:1.0%"></td><td style="width:37.883%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.738%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.570%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.738%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.571%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.8pt;padding-right:7.8pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:justify;text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Number of shares</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.8pt;padding-right:7.8pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:15.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Ownership (%)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">GungHo Online Entertainment, Inc.</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:15.6pt;text-align:justify"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:28.35pt;padding-right:4.3pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">4,121,737</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:28.35pt;padding-right:7.4pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">59.31</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Others</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:15.6pt;text-align:justify"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:28.35pt;padding-right:4.3pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">2,827,163</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:28.35pt;padding-right:7.4pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">40.69</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:15.6pt;text-align:justify"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:28.35pt;padding-right:4.3pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">6,948,900</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:28.35pt;padding-right:7.4pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">100.00</font></div></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(2) Consolidated subsidiaries</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Details of the consolidated subsidiaries as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.930%"><tr><td style="width:1.0%"></td><td style="width:24.657%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.810%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.495%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.810%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:30.381%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.810%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.495%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.810%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.822%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.483%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.827%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Percentage of ownership (%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:150%">Subsidiaries</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:150%">Location</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:150%">Main business</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:150%">Fiscal </font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:150%">year end</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2021</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gravity Interactive, Inc.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:0.95pt;padding-right:0.95pt;text-align:center;text-indent:0.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">USA</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10.1pt;text-indent:-8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.85pt;padding-right:2.85pt;text-align:center;text-indent:2.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">Online and mobile game services</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">December</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gravity NeoCyon, Inc.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:0.95pt;padding-right:0.95pt;text-align:center;text-indent:0.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">Korea</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10.1pt;text-indent:-8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:0.95pt;padding-right:0.95pt;text-align:center;text-indent:0.15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">Mobile Game Development and Service</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">December</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99.53</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99.53</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gravity Communications Co., Ltd.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:0.95pt;padding-right:0.95pt;text-align:center;text-indent:0.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">Taiwan</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10.1pt;text-indent:-8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.9pt;padding-right:5.9pt;text-align:center;text-indent:-4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">Online and mobile game services</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">December</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">PT. Gravity Game Link</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:0.95pt;padding-right:0.95pt;text-align:center;text-indent:0.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">Indonesia</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10.1pt;text-indent:-8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.9pt;padding-right:5.9pt;text-align:center;text-indent:-4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">Online and mobile game services</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">December</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gravity Game Tech Co., Ltd.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:0.95pt;padding-right:0.95pt;text-align:center;text-indent:0.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">Thailand</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10.1pt;text-indent:-8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.9pt;padding-right:5.9pt;text-align:center;text-indent:-4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">Online and mobile game services</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">December</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gravity Game Arise Co., Ltd.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:0.95pt;padding-right:0.95pt;text-align:center;text-indent:0.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">Japan</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10.1pt;text-indent:-8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.9pt;padding-right:5.9pt;text-align:center;text-indent:-4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">Online and mobile game services</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">December</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">Gravity Game Hub PTE., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:0.95pt;padding-right:0.95pt;text-align:center;text-indent:0.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">Singapore</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10.1pt;text-indent:-8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.9pt;padding-right:5.9pt;text-align:center;text-indent:-4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">Online and mobile game services</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">December</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">Gravity Game Vision Limited(*)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:0.95pt;padding-right:0.95pt;text-align:center;text-indent:0.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">Hong Kong</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10.1pt;text-indent:-8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.9pt;padding-right:5.9pt;text-align:center;text-indent:-4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">Online and mobile game services</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:150%">December</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td></tr></table></div><div style="padding-left:35.3pt;text-indent:-19.4pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*) Gravity Game Vision Limited was established during 2022 and has been included in subsidiary since then.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">1.  General Information, Continued</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:33.3pt;text-align:justify;text-indent:-20pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(3) Condensed financial information of subsidiaries as of and for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:30.102%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.713%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.387%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.837%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.713%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.713%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.903%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.713%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.713%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.207%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.713%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.713%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.473%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="30" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Subsidiaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:139%">Total</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:147%">assets</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:147%">(*1)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:139%">Total</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:147%">liabilities</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:147%">(*1)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:147%">Revenues</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:147%">(*1)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:5pt;padding-right:5pt;text-align:center;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:139%">Profit (loss) </font></div><div style="padding-left:5pt;padding-right:5pt;text-align:center;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:139%">for the period(*1)</font></div></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gravity Interactive, Inc.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">32,142,913</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23,616,795</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">62,745,252</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">(2,448,061)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gravity NeoCyon, Inc.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">15,586,693</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">8,352,788</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">24,638,854</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">1,709,739</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gravity Communications Co., Ltd.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">39,437,891</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">11,161,240</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">50,610,968</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">14,185,767</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">PT. Gravity Game Link</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">3,268,158</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">1,090,349</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">3,372,227</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">(373,901)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gravity Game Tech Co., Ltd.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">40,204,476</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">9,740,080</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">34,990,048</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">9,974,512</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gravity Game Arise Co., Ltd.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">3,066,904</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">988,401</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">3,451,554</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">(504,862)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Gravity Game Hub PTE., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">4,846,247</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">2,726,020</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">4,351,866</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">(3,081,397)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Gravity Game Vision Limited (*2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">63,608,043</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">46,145,974</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">116,550,222</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">17,090,044</font></div></td></tr></table></div><div style="padding-left:41pt;text-indent:-25pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:41pt;text-indent:-25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(*1) Amounts before eliminating intercompany transactions. </font></div><div style="margin-bottom:12pt;padding-left:41pt;text-align:justify;text-indent:-25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(*2) Gravity Game Vision Limited was established during 2022 and has been included from subsidiary since then. </font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:33.3pt;text-align:justify;text-indent:-20pt"><font><br></font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:30.438%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.723%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.415%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.415%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.823%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.723%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.723%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.976%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.723%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.723%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.900%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.723%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.723%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.672%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="30" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Subsidiaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:139%">Total</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:147%">assets</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:147%">(*1)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:139%">Total</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:147%">liabilities</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:147%">(*1)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:147%">Revenues</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:147%">(*1)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:5pt;padding-right:5pt;text-align:center;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:139%">Profit (loss) </font></div><div style="padding-left:5pt;padding-right:5pt;text-align:center;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:139%">for the period(*1)</font></div></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gravity Interactive, Inc.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26,385,056</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16,162,917</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">79,241,593</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">986,634</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gravity NeoCyon, Inc.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">14,902,641</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">9,378,474</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">25,443,458</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">(110,799)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gravity Communications Co., Ltd.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">33,120,691</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">9,236,188</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">33,342,145</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">9,096,285</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">PT. Gravity Game Link</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">2,916,316</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">318,233</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">2,461,680</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">(221,131)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gravity Game Tech Co., Ltd.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">25,591,172</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">5,665,835</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">28,345,984</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">5,495,689</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Gravity Game Arise Co., Ltd.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">3,912,442</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">2,167,254</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">3,258,230</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">158,563</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">Gravity Game Hub PTE., Ltd. (*2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">2,538,395</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">722,377</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">116,791</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10pt;text-indent:-10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-align:right;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">(1,109,627)</font></div></td></tr></table></div><div style="padding-left:41pt;text-indent:-25pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:41pt;text-indent:-25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(*1) Amounts before eliminating intercompany transactions. </font></div><div style="margin-bottom:12pt;padding-left:41pt;text-align:justify;text-indent:-25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(*2) Gravity Game Hub PTE., Ltd. was established during 2021 and has been included from subsidiary since then. </font></div><div><font><br></font></div><div><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">2.  Basis of Presentation</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">These consolidated financial statements have been prepared in accordance with Korean International Financial Reporting Standards (&#8220;K-IFRS&#8221;), as prescribed in the </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:133%">Act on External Audits of Stock Companies, Etc. in the Republic of Korea. </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The accompanying consolidated financial statements have been restructured and translated into English from the Korean language financial statements.</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">2.  Basis of Presentation, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Certain information attached to the Korean language financial statements, but not required for a fair presentation of the Group's financial position, financial performance or cash flows, is not presented in the accompanying consolidated financial statements.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">These consolidated financial statements were authorized for issuance by the Board of Directors on March 8, 2023, and are expected to be submitted for approval at the shareholders&#8217; meeting to be held on March 31, 2023.</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(1) Basis of measurement</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The consolidated financial statements have been prepared on the historical cost basis.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(2) Use of judgments and estimates</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The preparation of the consolidated financial statements in conformity with K-IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows&#58;</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(a) Deferred revenue</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group sells virtual currency and items that can be used in mobile games to game users. For each game in each country, the Group estimates and applies the game user's life cycle in order to recognize revenue generated by micro-transactions. The game user's life cycle is estimated based on the average period from the game user's first payment date to the last access date for active paying game users. The Group considers a game user as an active user if the period between the time of the user&#8217;s most recent access of the game and the end of reporting period equals or is shorter than the estimated game users&#8217; life cycle. For remaining amounts of virtual currency and items that active users own at period-end, the related revenue is deferred considering the items&#8217; attributes. The Group estimates the user&#8217;s life cycle by analyzing game users&#8217; activity patterns such as payment and access and it periodically reviews if there is any change of these estimates. </font></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%"> 3.  New Standards and Interpretations Adopted During the Year and Resulting Changes in Accounting Policies</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group has applied the following standards and amendments for the first time for the annual reporting period commencing on January 1, 2022.</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%"> 3.  New Standards and Interpretations Adopted During the Year and Resulting Changes in Accounting Policies,                                Continued</font></div><div style="margin-bottom:12pt;padding-left:32.2pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:6.88pt">Amendment to K-IFRS No. 1103 &#8216;Business Combinations&#8217; - Reference to the Conceptual Framework</font></div><div style="margin-bottom:12pt;padding-left:14.2pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The amendments update a reference of definition of assets and liabilities to be recognized in a business combination in revised Conceptual Framework for Financial Reporting. However, the amendments add an exception for the recognition of liabilities and contingent liabilities within the scope of Korea IFRS 1037 Provisions, Contingent Liabilities and Contingent Assets, and Korean IFRS 2121 Levies. The amendments also clarify that contingent assets should not be recognized at the acquisition date. The amendment does not have a significant impact on the financial statements.</font></div><div style="margin-bottom:12pt;padding-left:32.2pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(2)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:6.88pt">Amendments to K-IFRS No. 1016 &#8216;Property, Plant and Equipment&#8217; - Proceeds before intended use </font></div><div style="margin-bottom:12pt;padding-left:14.2pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The amendments prohibit an entity from deducting from the cost of an item of property, plant and equipment any proceeds from selling items produced while the entity is preparing the asset for its intended use. Instead, the entity will recognize the proceeds from selling such items, and the costs of producing those items, in profit or loss. The amendment does not have a significant impact on the financial statements.</font></div><div style="margin-bottom:12pt;padding-left:32.2pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(3)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:6.88pt">Amendments to K-IFRS No. 1037 &#8216;Provisions, Contingent Liabilities and Contingent Assets&#8217; &#8211; Onerous Contracts &#58; Cost of Fulfilling a Contract</font></div><div style="margin-bottom:12pt;padding-left:14.2pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The amendments clarify that the direct costs of fulfilling a contract include both the incremental costs of fulfilling the contract and an allocation of other costs directly related to fulfilling contracts when assessing whether the contract is onerous. The amendment does not have a significant impact on the financial statements.</font></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">4.  Significant Accounting Policies</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The principal accounting policies applied in the preparation of these consolidated financial statements in accordance with the K-IFRS are set out below. These policies have been consistently applied to all years presented, except if mentioned otherwise in Note 3.</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(1) Consolidation</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group has prepared the consolidated financial statements in accordance with K-IFRS No. 1110 </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:168%">Consolidated Financial Statements</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Subsidiaries are all entities over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are consolidated from the date on which control is obtained by the Group. They are deconsolidated from the date on which control ceases.</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">4.  Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The acquisition method of accounting is used to account for business combinations by the Group. The consideration transferred is measured at the fair values of the assets transferred, and identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The Group recognizes any non-controlling interest in the acquired entity on an acquisition-by-acquisition basis at the non-controlling interest&#8217;s proportionate share of the acquired entity&#8217;s net identifiable assets. Acquisition-related costs are expensed as incurred.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The excess of consideration transferred, amount of any non-controlling interest in the acquired entity and acquisition-date fair value of any previous equity interest in the acquired entity over the fair value of the net identifiable assets acquired is recorded as goodwill. If those amounts are less than the fair value of the net identifiable assets of the business acquired, the difference is recognized directly in the profit as a bargain purchase.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Intercompany transactions, balances and unrealized gains on transactions between consolidated companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group.</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(2) Segment reporting</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Information of each operating segment is reported in a manner consistent with the internal business segment reporting provided to the chief operating decision-maker (Note 23). The chief operating decision-maker is responsible for allocating resources and assessing performance of the operating segments.</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(3) Cash and Cash equivalents</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Cash and cash equivalents include cash on hand, deposits held at call with financial institutions, and other short-term investments with original maturities of three months or less that are readily convertible to known amounts of cash.</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(4) Financial Assets</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(a) Classification</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">At initial recognition, the Group classifies its financial assets in the following measurement categories&#58; </font></div><div style="padding-left:28.3pt"><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:4.29pt">measured at fair value through profit or loss&#59;</font></div><div style="padding-left:28.3pt"><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:4.29pt">measured at fair value through other comprehensive income (&#8220;FVOCI&#8221;)&#59; and</font></div><div style="margin-bottom:12pt;padding-left:28.3pt"><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:4.29pt">measured at amortized cost.</font></div><div style="padding-left:13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The classification depends on the Group&#8217;s business model for managing the financial assets and the contractual terms of the cash flows. </font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">4.  Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(4) Financial Assets, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(a) Classification, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">For financial assets measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive income. For investments in debt instruments, this will depend on the business model in which the investment is held. The Group reclassifies debt investments when, and only when, its business model for managing those assets changes.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">For investments in equity instruments that are not held for trading, this will depend on whether the Group has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income. Changes in fair value of equity instruments not elected as equity investment at fair value through other comprehensive income will be recognized in profit or loss.</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(b) Measurement</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">At initial recognition, the Group measures a financial asset at its fair value plus, in case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest. </font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(i) Debt instruments</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Subsequent measurement of debt instruments depends on the Group&#8217;s business model for managing the asset and the cash flow characteristics of the asset. The Group classifies its debt instruments into one of the following three measurement categories&#58;</font></div><div style="margin-bottom:12pt;padding-left:56.7pt;text-align:justify;text-indent:-28.4pt"><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:24.99pt">Amortized cost&#58; Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortized cost. A gain or loss on a debt investment that is subsequently measured at amortized cost and is not part of a hedging relationship is recognized in profit or loss when the asset is derecognized or impaired. Interest income from these financial assets is included in &#8216;finance income&#8217; using the effective interest rate method.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">4.  Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(4) Financial Assets, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(b) Measurement, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(i) Debt instruments, Continued</font></div><div style="margin-bottom:12pt;padding-left:56.7pt;text-align:justify;text-indent:-28.4pt"><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:24.99pt">Fair value through other comprehensive income&#58; Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets&#8217; cash flows represent solely payments of principal and interest, are measured at fair value through other comprehensive income. Movements in the carrying amount are taken through other comprehensive income, except for the recognition of impairment loss (reversal of impairment loss), interest income and foreign exchange gains and losses which are recognized in profit or loss. When the financial asset is derecognized, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to profit or loss. Interest income from these financial assets is included in &#8216;finance income&#8217; using the effective interest rate method. Foreign exchange gains and losses are presented in &#8216;finance income or costs&#8217; and impairment losses are presented in &#8216;other non-operating expenses&#8217;. </font></div><div style="margin-bottom:12pt;padding-left:56.7pt;text-align:justify;text-indent:-28.4pt"><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:24.99pt">Fair value through profit or loss&#58; Assets that do not meet the criteria for amortized cost or fair value through other comprehensive income are measured at fair value through profit or loss. A gain or loss on a debt investment that is subsequently measured at fair value through profit or loss and is not part of a hedging relationship is recognized in profit or loss and presented net in the statement of profit or loss within &#8216;finance income or costs&#8217; in the year in which it arises. </font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(ii) Equity instruments</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group subsequently measures all equity investments at fair value. Where the Group&#8217;s management has elected to present fair value gains and losses</font><font style="color:#ff0000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">on equity investments, which are held for long-term investment or strategic purpose, in other comprehensive income, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Changes in the fair value of financial assets at fair value through profit or loss are recognized in &#8216;other non-operating income or expenses&#8217; in the statement of profit or loss as applicable. Impairment loss (reversal of impairment loss) on equity investments measured at fair value through other comprehensive income are not reported separately from other changes in fair value.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">4.  Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(4) Financial Assets, Continued</font></div><div style="margin-bottom:12pt;padding-left:15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(c) Impairment</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group recognizes loss allowances for expected credit losses(&#8220;ECLs&#8221;) on&#58;</font></div><div style="padding-left:28.3pt;text-align:justify"><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:4.29pt">financial assets measured at amortized cost&#59;</font></div><div style="padding-left:28.3pt;text-align:justify"><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:4.29pt">debt investments measured at fair value through other comprehensive income&#59; and</font></div><div style="margin-bottom:12pt;padding-left:28.3pt;text-align:justify"><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:4.29pt">contract assets under K-IFRS No. 1115.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group measures loss allowances at an amount equal to lifetime ECLs, except for the following, which are measured at 12-month ECLs&#58;</font></div><div style="padding-left:28.3pt;text-align:justify"><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:4.29pt">debt securities that are determined to have low credit risk at the reporting date&#59; and</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:5.59pt">other debt securities and bank balances for which credit risk (i.e. the risk of default occurring over the expected life of the financial instrument) has not increased significantly since initial recognition.</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Loss allowances for accounts and other receivables (including lease receivables) and contract assets are always measured at an amount equal to lifetime ECLs.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, the Group considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analysis, based on the Group&#8217;s historical experience and informed credit assessment, that includes forward-looking information.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group considers a financial asset to be in default when&#58;</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-9pt"><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:5.59pt">the debtor is unlikely to pay its obligations to the Group in full, without recourse by the Group   to actions such as realizing security (if any is held)&#59; or</font></div><div style="padding-left:28.3pt;text-align:justify"><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:4.29pt">the financial asset is more than 90 days past due.</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Lifetime ECLs are the ECLs that result from all possible default events over the expected life of a financial instrument.12-month ECLs are the portion of ECLs that result from default events that are possible within the 12 months after the reporting date (or a shorter period if the expected life of the instrument is less than 12 months).The maximum period considered when estimating ECLs is the maximum contractual period over which the Group is exposed to credit risk.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls (i.e. the difference between the cash flows due to the entity in accordance with the contract and the cash flows that the Group expects to receive). ECLs are discounted at the effective interest rate of the financial asset.</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">4.  Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(4) Financial Assets, Continued</font></div><div style="margin-bottom:12pt;padding-left:15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(c) Impairment, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">At each reporting date, the Group assesses whether financial assets carried at amortized cost and debt securities at fair value through other comprehensive income are credit-impaired. A financial asset is &#8216;credit-impaired&#8217; when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets. For debt securities at fair value through other comprehensive income, the loss allowance is charged to profit or loss.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(d) Recognition and Derecognition</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Regular way purchases and sales of financial assets are recognized or derecognized on trade-date, the date on which the Group commits to purchase or sell the asset. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">If a transfer does not result in derecognition because the Group has retained substantially all the risks and rewards of ownership of the transferred asset, the Group continues to recognize the transferred asset in its entirety and recognizes a financial liability for the consideration received.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(e) Offsetting of financial instruments</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Financial assets and liabilities are offset and the net amount reported in the consolidated statements of financial position where there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the assets and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the Group or the counterparty.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(5) Account receivables</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Account receivables are recognized initially at the amount of consideration that is unconditional, unless they contain significant financing components in which case they are recognized at fair value. Account receivables are subsequently measured at amortized cost using the effective interest method, less loss allowance. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(6) Property and Equipment</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Property and equipment are initially measured at cost. The cost of property and equipment includes expenditures arising directly from the construction or acquisition of the asset, any costs directly attributable </font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management, and the initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Property and equipment, subsequently, are carried at cost less accumulated depreciation and accumulated impairment losses.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Subsequent costs are recognized in the carrying amount of property and equipment at cost or, if appropriate, as a separate item if it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be reliably measured.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Depreciation of all property and equipment, except for land, is calculated using the straight-line method to allocate their cost or revalued amounts, net of their residual values, over their estimated useful lives as follows&#58;</font></div><div style="padding-left:43.8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:55.232%"><tr><td style="width:1.0%"></td><td style="width:55.917%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.969%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:40.714%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Estimated Useful Lives</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Computer and other equipment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4 years</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Furniture and fixture</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4 years</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Vehicles</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4 years</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Leasehold improvements</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(*)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Right-of-use assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(*)</font></div></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:177%">(*) The Group depreciates the </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:177%">Leasehold improvements and</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:177%"> Right-of-use asset from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term using the straight-line method.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Depreciation methods, useful lives, and residual values are reviewed at the end of each reporting date and adjusted, if appropriate. The change is accounted for as a change in an accounting estimate.</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">4.  Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(7) Intangible Assets</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Intangible assets, except for goodwill, are initially recognized at its historical cost, and carried at cost less accumulated amortization and accumulated impairment losses. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group amortizes intangible assets with a limited useful life using the straight-line method over the following periods&#58;</font></div><div style="padding-left:42.55pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:49.257%"><tr><td style="width:1.0%"></td><td style="width:50.703%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.111%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.786%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Estimated Useful Lives</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Software</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1&#126;3 years</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Industrial property rights</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10 years</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other intangible assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3 years</font></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Expenditure on research activities is recognized in profit or loss as incurred. Development expenditure is capitalized only if the expenditure can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable and the Group intends to and has sufficient resources to complete development and to use or sell the asset. Other development expenditure is recognized in profit or loss as incurred.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group entered into a game licensing agreement with a number of third parties to gain exclusive rights to the games developed by those companies. The license fee payments are recognized as other intangible assets and amortized over the term of the contract using the straight-line method.</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">4.  Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(8) Impairment of Non-financial Assets</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">At each reporting date, the Group reviews the carrying amounts of its non-financial assets (other than contract assets, incremental costs of obtaining a contract, costs to fulfil a contract, employee benefit related assets and deferred tax assets) to determine whether there is any indication of impairment. If any such indication exists, then the asset&#8217;s recoverable amount is estimated. Goodwill and intangible assets that have indefinite useful lives or that are not yet available for use, irrespective of whether there is any indication of impairment, are tested for impairment annually by comparing their recoverable amounts to their carrying amounts.</font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The recoverable amount of an asset or cash generating unit (&#8220;CGU&#8221;) is the greater of its value in use and its fair value less costs to sell. Value in use is based on the estimated future cash flows, discounted to their present value using an adjusted discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%"><br>An impairment loss is recognized in profit or loss if the carrying amount of an asset or CGU exceeds its recoverable amount.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(9) Leases</font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">At inception of a contract, the Group assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Group uses the definition of a lease in K-IFRS No. 1116.</font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(a) As a lessee</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">At commencement or on modification of a contract that contains a lease component, the Group allocates the consideration in the contract to each lease component on the basis of its relative stand-alone prices. However, the Group has elected not to separate non-lease components and account for the lease and non-lease components as a single lease component by class of underlying asset.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group determines the lease term as the non-cancellable period of a lease, together with both (a) periods covered by an option to extend the lease if the lessee is reasonably certain to exercise that option&#59; and (b) periods covered by an option to terminate the lease if the lessee is reasonably certain not to exercise that option. When the lessee and the lessor each has the right to terminate the lease without permission from the other party, the Group should consider a termination penalty in determining the period for which the contract is enforceable.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">4.  Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(9) Leases, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term, unless the lease transfers ownership of the underlying asset to the Group by the end of the lease term or the cost of the right-of-use asset reflects that the Group will exercise a purchase option. In that case the right-of-use asset will be depreciated over the useful life of the underlying asset, which is determined on the same basis as those of property and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group&#8217;s incremental borrowing rate. Generally, the Group uses its incremental borrowing rate as the discount rates.</font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group determines its incremental borrowing rate by obtaining interest rates from various external financing sources and makes certain adjustments to reflect the terms of the lease and type of the asset leased.</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Lease payments included in the measurement of the lease liability comprise the following&#58;</font></div><div style="padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:145%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%;padding-left:17.45pt">fixed payments, including in-substance fixed payments&#59;</font></div><div style="padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:145%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%;padding-left:17.45pt">variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date&#59;</font></div><div style="padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:145%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%;padding-left:17.45pt">amounts expected to be payable under a residual value guarantee&#59; and</font></div><div style="margin-bottom:12pt;padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:145%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%;padding-left:17.45pt">the exercise price under a purchase option that the Group is reasonably certain to exercise, lease payments in an optional renewal period if the Group is reasonably certain to exercise an extension option, and penalties for early termination of a lease unless the Group is reasonably certain not to terminate early.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Group&#8217;s estimate of the amount expected to be payable under a residual value guarantee, if the Group changes its assessment of whether it will exercise a purchase, extension or termination option or if there is a revised in-substance fixed lease payment.</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">4.  Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group presents right-of-use assets that do not meet the definition of investment property in &#8216;Property and equipment&#8217; and lease liabilities in &#8216;Other current liabilities&#8217; and &#8216;Other non-current liabilities&#8217; in the consolidated statement of financial position.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group has elected not to recognize right-of-use assets and lease liabilities for leases of low-value assets and short-term leases. The Group recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(b) As a lessor</font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">At inception or on modification of a contract that contains a lease component, the Group allocates the consideration in the contract to each lease component on the basis of their relative stand-alone prices.</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">When the Group acts as a lessor, it determines at lease inception whether each lease is a finance lease or an operating lease.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">To classify each lease, the Group makes an overall assessment of whether the lease transfers substantially all of the risks and rewards incidental to ownership of the underlying asset. If this is the case, then the lease is a finance lease&#59; if not, then it is an operating lease. As part of this assessment, the Group considers certain indicators such as whether the lease is for the major part of the economic life of the asset.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">When the Group is an intermediate lessor, it accounts for its interests in the head lease and the sub-lease separately. It assesses the lease classification of a sub-lease with reference to the right-of-use asset arising from the head lease, not with reference to the underlying asset. If a head lease is a short-term lease to which the Group applies the exemption described above, then it classifies the sub-lease as an operating lease.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">If an arrangement contains lease and non-lease components, then the Group applies K-IFRS No. 1115 to allocate the consideration in the contract.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group applies the derecognition and impairment requirements in K-IFRS No. 1109 to the net investment in the lease. The Group further regularly reviews estimated unguaranteed residual values used in calculating the gross investment in the lease.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group recognizes lease payments received under operating leases as income on a straight-line basis over the lease term as part of &#8216;non-operating income&#8217;.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">4.  Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(10) Financial Liabilities</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(a) Classification and measurement</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group&#8217;s financial liabilities at fair value through profit or loss are financial instruments held for trading. A financial liability is held for trading if it is incurred principally for the purpose of repurchasing in the near term. A derivative that is not designated as a hedging instrument and an embedded derivative that is separated are also classified as held for trading.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group classifies non-derivative financial liabilities, except for financial liabilities at fair value through profit or loss, financial guarantee contracts and financial liabilities that arise when a transfer of financial assets does not qualify for derecognition, as financial liabilities carried at amortized cost and present as &#8216;accounts payable&#8217;, &#8216;other current liabilities&#8217; and &#8216;other non-current liabilities&#8217; in the consolidated statement of financial position. </font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:14.2pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(b)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:168%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Derecognition</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Financial liabilities are removed from the consolidated statement of financial position when it is extinguished&#59; for example, when the obligation specified in the contract is discharged or cancelled or expired or when the terms of an existing financial liability are substantially modified. The difference between the carrying amount of a financial liability extinguished or transferred to another party and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(11) Provisions and Contingent Liabilities</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Provisions are recognized when the Group has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Provisions are measured at the present value of management's best estimate of the expenditure required to settle the present obligation at the end of the reporting period. The discount rate used to determine the present value reflects current market assessments of the time value of money and the risks specific to the liability.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">In addition, when there is a possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity or a present obligation that arises from past events but is not recognized because it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation or the amount of the obligation cannot be measured with sufficient reliability, a disclosure regarding the contingent liabilities is made in the notes to the financial statements.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">4.  Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(12) Foreign Currency Translation</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(a) Functional and presentation currency</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Items included in the consolidated financial statements of each of the Group&#8217;s entities are measured using the currency of the primary economic environment in which each entity operates (the &#8220;functional currency&#8221;). The consolidated financial statements are presented in Korean won, which is the Parent Company&#8217;s functional and presentation currency. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(b) Transactions and balances</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:173%">Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:173%">at the exchange rate at the reporting date</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:173%"> are generally recognized in profit or loss. They are recognized in other comprehensive income if they relate to qualifying cash flow hedges and qualifying effective portion of net investment hedges in a foreign operation. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Exchange differences arising on non-monetary financial assets and liabilities such as equity instruments at fair value through profit or loss and equity instruments at fair value through other comprehensive income are recognized in profit or loss and other comprehensive income, respectively, as part of the fair value gain or loss.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(13) Statement of cash flows</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group has elected to present cash flows from operating activities using the indirect method. Cash flows denominated in a foreign currency are reported using average exchange rate.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(14) Revenues from contracts with customers</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Group engages in game licensing, IP licensing and game publishing businesses.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Revenue is measured at the fair value of the consideration received or receivable for the sale of goods or rendering of services arising from the normal course of the business. Amounts recognized as revenue are net of value added taxes, returns, rebates and discounts. </font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">4.  Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(14) Revenues from contracts with customers, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(a) Revenue from micro-transaction and subscription</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Group recognizes micro-transaction revenue of online and mobile games when the Group satisfies its performance obligations. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Whether the performance obligations are satisfied depends on the natures of virtual currency and in-game virtual items. Items are categorized into consumable, periodic, and permanent in-game virtual items.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Consumable in-game virtual items are items that are consumed by the specific action of a game user, and periodic in-game virtual items are items that can be used repeatedly during a specified effective period. Permanent in-game virtual items are items that can be used by game users repeatedly without an effective period.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The accounting policy on revenue recognition is described below in relation to micro-transaction revenue from the sales of virtual currency and items. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(i) Online Games</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The specific method of recognizing and deferring revenue for virtual currency and consumable, periodic, and permanent items purchased with virtual currency is as follows.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">At the end of the reporting period, the Group defers the total amount of remaining virtual currency.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">For consumable in-game virtual items, the related revenue is recognized when the in-game virtual item is consumed. The Group defers the revenue for remaining amounts of virtual items owned by active paying users within the estimated user life cycle at the end of the reporting period. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">For periodic in-game virtual items, the related revenue is recognized ratably over the effective period. The Group defers the revenue for remaining effective period. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">For permanent in-game virtual items, revenue is recognized ratably over the estimated user life cycle. The Group defers the revenue for remaining period of estimated user life cycle at the end of the reporting period.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(ii) Mobile Games</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The specific method of recognizing and deferring revenue for virtual currency and consumable, periodic, and permanent items purchased with virtual currency is as follows.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Mobile game users purchase virtual currency that can be used to purchase in-game items. The Group has no refund obligation after the game user</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">s</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%"> purchase virtual currency. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">At the end of the reporting period, the Group defers the revenue for the remaining virtual currency possessed by active paying users. </font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">4.  Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(14) Revenues from contracts with customers, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(a) Revenue from micro-transaction and subscription, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(ii) Mobile Games, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">For consumable in-game virtual items, revenue is recognized when the in-game virtual item is consumed. The Group defers the revenue for remaining virtual items possessed by active users within the estimated user life cycle at the end of the reporting period. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">For periodic in-game virtual items with effective period, revenue is recognized ratably over the effective period. The Group defers the revenue for remaining effective period. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">For permanent in-game virtual items, revenue is recognized ratably over the estimated user life cycle. The Group defers the revenue for remaining period of estimated user life cycle at the end of the reporting period.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(b) Royalties and License Fees</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">In connection with the Group&#8217;s online and mobile games, the Group enters into license agreement in connection with the right to access the intellectual property, such as game character images and stories. The Group believes that the agreement is a promise to provide a right to the customer to access the related IP because the Group will undertake activities that significantly affect the intellectual property to which the customer has rights, the rights granted by the license directly expose the customer to any positive or negative effects of the Group&#8217;s activities, and those activities do not result in the transfer of a good or a service to the customer as those activities occur. Therefore, the Group&#8217;s performance obligations in connection with these agreements are satisfied over time. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Since the nature of the license promise is to provide customers with access to the intellectual property of the Group during the license period, the Group's performance obligation corresponds to the performance obligation satisfied over time, and revenue is recognized over the license period. The Group recognizes revenue for the license fee through the straight-line method during the contract period, and for the running royalty revenue, the revenue is recognized on an accrual basis at the time the revenue distribution is established in accordance with the terms of the contract. When the running royalty revenue based on the contractual royalty rate and the actual revenue of the licensee exceeds the ratably recognized minimum guarantee, the excess amount is then recognized as revenue and accounts receivable. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(c) Other revenue</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Other revenue consists of revenue from sales of console games, game character merchandise, animation and other services, including website development and operation services for third parties. Revenues from development and operation services for third parties are recognized over time by measuring progress towards complete satisfaction of a performance obligation. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(d) Incremental costs of obtaining contract</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Group pays platform processing fees to operate mobile games on third party platforms. These fees are charged based on the game users&#8217; purchases in cash and considered as incremental cost of obtaining contracts with customers and therefore capitalized. The Group presents these costs as prepaid expense and amortizes them to costs of revenue at the same time when the related revenue of the services provided to the game users are recognized. </font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">4.  Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(15) Current and Deferred Tax</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The tax expense for the period consists of current and deferred tax. Current and deferred tax is recognized in profit or loss, except to the extent that it relates to items recognized in other comprehensive income or directly in equity. The tax expense is measured at the amount expected to be paid to the taxation authorities, using the tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation, and considers whether it is probable that a taxation authority will accept an uncertain tax treatment. The Group measures its tax balances either based on the most likely amount or the expected value, depending on which method provides a better prediction of the resolution of the uncertainty. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Deferred tax assets are recognized only if it is probable that future taxable amounts will be available to utilize those temporary differences and</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">tax credit.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%"> </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group recognizes a deferred tax liability for all taxable temporary differences associated with investments in subsidiaries, associates, and interests in joint arrangements, except to the extent that the Group is able to control the timing of the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. In addition, the Group recognizes a deferred tax asset for all deductible temporary differences arising from such investments to the extent that it is probable the temporary difference will reverse in the foreseeable future and taxable profit will be available against which the temporary difference can be utilized.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset tax assets and liabilities and when the deferred tax balances relate to the same taxation authority. Tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis.</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(16) Employee Benefits</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(a) Short-term employee benefits</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Short-term employee benefits are employee benefits that are due to be settled within 12 months after the end of the period in which the employees render related services. When an employee has rendered a service to the Group during an accounting period, the Group recognizes the undiscounted amount of short-term employee benefits expected to be paid in exchange for that service.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">4.  Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(b) Post-employment benefits</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group&#8217;s retirement pension plans are divided into defined contribution plans and defined benefit plans.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group has a defined contribution pension plan with the related contribution to the pension plan recorded as severance benefit expenses for the employees with service period over a year. The Group recognizes provision for severance benefits for the employees with service period less than a year.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">A defined benefit plan is a pension plan that is not a defined contribution plan. Generally, post-employment benefits are payable after the completion of employment, and the benefit amount depended on the employee&#8217;s age, periods of service or salary levels. The liability recognized in the statement of financial position in respect of defined benefit pension plans is the present value of the defined benefit obligation at the end of the reporting period less the fair value of plan assets. The defined benefit obligation is calculated annually by independent actuaries using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future cash outflows using interest rates of high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms approximating to the terms of the related obligation. Remeasurement gains and losses arising from experience adjustments and changes in actuarial assumptions are recognized in the period in which they occur, directly in other comprehensive income. Changes in the present value of the defined benefit obligation resulting from plan amendments or curtailments are recognized immediately in profit or loss as past service costs.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(17) Standards issued but not yet effective</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">A number of new standards are effective for annual periods beginning after January 1, 2022 and earlier application is permitted&#59; however, the Group has not early adopted the new or amended standards in preparing these consolidated financial statements.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The following new and amended standards and interpretations are not expected to have a significant impact on the Group&#8217;s consolidated financial statements.</font></div><div style="padding-left:51.7pt;text-indent:-20pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:16.15pt">Classification of Liabilities as Current or Non-current (Amendment to K-IFRS No. 1001)</font></div><div style="padding-left:51.7pt;text-indent:-20pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:16.15pt">Disclosure of Accounting Policies (Amendment to K-IFRS No. 1001)</font></div><div style="padding-left:51.7pt;text-indent:-20pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:16.15pt">Definition of an Accounting Estimate (Amendment to K-IFRS No. 1008)</font></div><div style="padding-left:51.7pt;text-indent:-20pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:16.15pt">Deferred Income Taxes on Assets and Liabilities Arising from a Single Transaction (amendment to K-IFRS No. 1012)</font></div><div style="padding-left:51.7pt;text-indent:-20pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:16.15pt">K-IFRS No 1117 Insurance Contracts</font></div><div style="padding-left:15.7pt;text-indent:-2pt"><font><br></font></div><div><font><br></font></div><div style="padding-left:51.7pt"><font><br></font></div><div style="padding-left:51.7pt"><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">5.  Cash and cash equivalents</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(1) Cash and cash equivalents as of December 31, 2022 and 2021 are as follows&#58; </font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:84.302%"><tr><td style="width:1.0%"></td><td style="width:30.509%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.757%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.539%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:29.359%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.757%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.757%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:29.359%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.763%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Demand deposits, etc.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">169,877,341</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">99,104,943</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(2) The Group does not have any restricted cash and cash equivalents as of December 31, 2022 and 2021.</font></div><div style="margin-top:12pt;padding-left:16pt;text-align:justify"><font><br></font></div><div><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">6.  Financial Instruments by Category</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(1) Carrying amounts of financial instruments by category as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:92.538%"><tr><td style="width:1.0%"></td><td style="width:37.294%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.021%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.659%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.601%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.021%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.604%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></td></tr><tr><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Financial assets at amortized cost</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">169,877,341</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">99,104,943</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Short-term financial instruments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">167,000,000</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">143,000,000</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accounts receivable, net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">77,256,816</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">52,614,595</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other receivables, net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,943</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,085</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other current financial assets(*1)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,370,146</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">598,099</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other non-current financial assets(*2)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,675,769</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,018,823</font></td></tr><tr><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Financial assets at fair value through profit or loss</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Short-term financial instruments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:18pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,000,000</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Other non-current financial assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:18pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:72pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">500,000</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">419,692,015</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">303,342,545</font></td></tr></table></div><div style="text-align:justify;text-indent:15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*1) Other current financial assets consist of accrued income and deposits.</font></div><div style="text-align:justify;text-indent:15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*2)Other non-current financial assets consist of deposits.</font></div><div style="padding-left:2.1pt;text-align:justify"><font><br></font></div><div style="padding-left:2.1pt;text-align:justify"><font><br></font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:92.377%"><tr><td style="width:1.0%"></td><td style="width:37.361%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.848%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.669%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.648%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.023%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.651%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Financial liabilities at amortized cost</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accounts payable(*)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">70,169,830</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">36,864,256</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Long-term accounts payable</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">373,989</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">729,173</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accrued expenses(*)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">429,132</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">49,299</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other current liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,906,064</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,606,965</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other non-current liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,057,121</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,123,598</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">76,936,136</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">46,373,291</font></td></tr></table></div><div><font><br></font></div><div style="padding-left:14.2pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*) Accounts payable and accrued expenses that are not financial liabilities are excluded.</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">28</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">6.  Financial Instruments by Category, Continued</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(2) Net income(expenses) from financial instruments for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:87.209%"><tr><td style="width:1.0%"></td><td style="width:38.344%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.096%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.011%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.825%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.096%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.828%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Financial assets at amortized cost</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:4.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">&#160;Interest income</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%;text-decoration:line-through">W</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,496,116</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,355,123</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">&#160;Differences in foreign currency</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,100,621</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,135,281</font></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-indent:4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,596,737</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">3,490,404</font></div></td></tr><tr><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Financial assets at fair value through profit or loss</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">&#160;Interest income</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,701</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">28,054</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160; &#160; &#160; &#160; &#160; 6,601,438&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,518,458</font></td></tr></table></div><div style="padding-left:2.1pt;text-align:justify"><font><br></font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:87.209%"><tr><td style="width:1.0%"></td><td style="width:38.344%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.096%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.011%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.825%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.096%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.828%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Financial liabilities at amortized cost</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:4.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">&#160;Interest expense</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%;text-decoration:line-through">W</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(126,826)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(115,321)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">&#160;Differences in foreign currency</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,300,507)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(820,772)</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,427,333)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(936,093)</font></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(3) Fair value hierarchy</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:133%">Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows&#58;</font></div><div style="padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">Level 1&#58; quoted prices (unadjusted) in active markets for identical assets or liabilities&#59;</font></div><div style="padding-left:49.65pt;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">Level 2&#58; all inputs other than quoted prices included in level 1 that are observable (either directly that is, prices, or indirectly that is, derived from prices) for the asset or liability&#59;</font></div><div style="margin-bottom:12pt;padding-left:49.65pt;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">Level 3&#58; unobservable inputs for the asset or liability.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">The fair value of financial instruments traded in an active market is determined based on the quoted market price as of the end of the reporting period. If the quoted prices are readily and regularly available through exchanges, sellers, brokers, industry groups, rating agencies or regulators and such prices represent actual market transactions that occur regularly between independent parties, they are considered active markets. These products are included in Level 1.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. These valuation techniques use as much market observable information as possible and use the least amount of company-specific information. At this time, if all the significant input variables required to measure the fair value of a good are observable, the good is included in Level 2.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">If more than one significant input variable is not based on observable market information, the item is included in Level 3.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">6.  Financial Instruments by Category, Continued</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(3) Fair value hierarchy, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">The valuation techniques used to measure the fair value of a financial instrument include&#58;</font></div><div style="padding-left:21.3pt;text-align:justify;text-indent:-5.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">-  Market price or dealer price of a similar financial instrument </font></div><div style="margin-bottom:12pt;padding-left:28.3pt;text-align:justify;text-indent:-12.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">-  The fair value of derivative instruments is determined by discounting the amount to present value using the leading exchange rate as of the end of the reporting period </font></div><div style="margin-bottom:12pt;padding-left:14.2pt;text-align:justify;text-indent:1.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">For the other financial instruments, the Group applied other valuation techniques such as discounted cash flow, etc.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">7.  Accounts and Other Receivables</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(1) Accounts and other receivables as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.868%"><tr><td style="width:1.0%"></td><td style="width:33.553%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.790%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.421%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.790%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.596%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.450%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.576%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.790%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.104%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">December 31, 2022</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">December 31, 2021</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;text-align:justify"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Accounts</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">receivables</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Other receivables</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Accounts</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">receivables</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Other receivables</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Non-related party</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:147%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:147%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">74,702,397</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">144,594</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">48,050,332</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,085,325</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Related party</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,873,954</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,253,873</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Less&#58; Loss allowance</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(319,535)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,809)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(689,610)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,809)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accounts and other receivables, net</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:147%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:147%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">77,256,816</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">139,785</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">52,614,595</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,080,516</font></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(2) Changes in the loss allowance of accounts and other receivables during the years ended December 31, 2022 and 2021 are as follows&#58; </font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.706%"><tr><td style="width:1.0%"></td><td style="width:38.900%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.452%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.040%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.461%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.452%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.461%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.452%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.461%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.452%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.469%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;text-align:justify"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">2022</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">2021</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;text-align:justify"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;text-align:justify"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Accounts</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">receivables</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Other receivables</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Accounts</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">receivables</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Other receivables</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Beginning balance</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;text-align:justify"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:147%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:147%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">689,610</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,809</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">579,087</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,809</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Bad debt expenses</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;text-align:justify"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">701,609</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">933,226</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Reversal of allowance for doubtful accounts</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">&#160;</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(131,927)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Write-off</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;text-align:justify"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,071,684)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(690,776)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Ending balance</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;text-align:justify"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:147%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:147%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">319,535</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,809</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">689,610</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,809</font></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(3) Expected credit losses (ECLs) and credit risk exposures for accounts receivable as of December 31, 2022 and 2021 are as follows, Continued&#58;</font></div><div style="margin-bottom:12pt;padding-left:28.3pt;text-align:justify;text-indent:-12.3pt"><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">7.  Accounts and Other Receivables, Continued</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(a) Accounts receivable</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:35.335%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.904%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.824%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.746%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.947%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.515%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.746%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.746%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.937%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="21" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">December 31, 2022</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Expected loss rate(%)</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Carrying</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">amount</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Loss<br>allowance</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Not due or overdue for less than 90 days</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:147%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:147%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">77,072,945</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">85,459</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.1pt;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">More than 90 days &#126; Less than 180 days</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18.2</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">318,245</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">57,955</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 180 days &#126; Less than 270 days</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">46.6</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,735</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,739</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 270 days &#126; Less than 1 year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">82.3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">39,783</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">32,739</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 1 year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100.0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">141,643</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">141,643</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">77,576,351</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">319,535</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="21" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">December 31, 2021</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Expected loss rate(%)</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Carrying</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">amount</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Loss<br>allowance</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Not due or overdue for less than 90 days</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:147%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:147%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">52,172,521</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">63,553</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.1pt;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">More than 90 days &#126; Less than 180 days</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.1</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">437,979</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">362</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 180 days &#126; Less than 270 days</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">73.2</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">242,765</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">177,602</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 270 days &#126; Less than 1 year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">98.8</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">237,309</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">234,462</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 1 year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100.0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">213,631</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">213,631</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">53,304,205</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">689,610</font></div></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(b) Other receivables</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:36.842%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.925%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.604%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.764%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.919%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.816%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.764%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.266%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">December 31, 2022</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Expected loss rate(%)</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Carrying</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">amount</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Bad debt<br>allowance</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Not due or overdue for less than 90 days</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">139,785</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.1pt;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">More than 90 days &#126; Less than 180 days</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 180 days &#126; Less than 270 days</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 270 days &#126; Less than 1 year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 1 year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,809</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,809</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">144,594</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,809</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">December 31, 2021</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Expected loss rate(%)</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Carrying</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">amount</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Bad debt<br>allowance</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Not due or overdue for less than 90 days</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,080,516</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.1pt;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">More than 90 days &#126; Less than 180 days</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 180 days &#126; Less than 270 days</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 270 days &#126; Less than 1 year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 1 year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,809</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,809</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,085,325</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,809</font></td></tr></table></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">In assessing the recoverability of accounts and other receivables, the Group considers changes in the credit rating of accounts and other receivables from the commencement of the credit to the end of the reporting period.</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">31</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">7.  Accounts and Other Receivables, Continued</font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="margin-top:2pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Group applies the simplified approach for accounts and other receivables to measure the loss allowance at an amount equal to lifetime expected credit losses. To measure the expected credit losses, accounts and other receivables are grouped based on credit risk characteristics and the duration of past due balances. ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls. The Group considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes the Group&#8217;s historical experience and informed credit assessment, that includes forward-looking information. </font></div><div><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">8.  Property and Equipment</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(1) Details of property and equipment as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.930%"><tr><td style="width:1.0%"></td><td style="width:17.250%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.483%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.098%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.852%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.810%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.852%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.810%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.852%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.810%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.852%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.810%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.852%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.810%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.859%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:199%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.9pt;padding-right:1.9pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">December 31, 2021</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;text-align:justify"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">Acquisition</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">cost</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">Accumulated depreciation</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">Carrying</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">amount</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">Acquisition cost</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">Accumulated depreciation</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">Carrying</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">amount</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">Computer and other equipment</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,381,124</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,268,055)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,113,069</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,654,286</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,199,734)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,454,552</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">Furniture and fixture</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,786,591</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,448,530)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">338,061</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,793,228</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,412,770)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">380,458</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">Vehicles</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,101</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,498)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,603</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,101</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,223)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,878</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">Leasehold improvements</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,084,175</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,357,187)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">726,988</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,935,005</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,177,894)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">757,111</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">Right-of-use assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16,197,337</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10,238,929)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">5,958,408</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15,860,960</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,120,960)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,740,000</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26,458,328</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18,318,199)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">8,140,129</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26,252,580</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14,914,581)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,337,999</font></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(2) Changes in property and equipment for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.445%"><tr><td style="width:1.0%"></td><td style="width:18.189%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.476%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.168%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.421%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.492%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.236%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.492%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.492%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.236%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.492%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.544%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.492%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.236%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.492%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.242%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="36" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Computer and other equipment</font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Furniture</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">and fixture</font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt;padding-right:2.75pt"><font><br></font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.42pt;padding-right:2.42pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Vehicles</font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt;padding-right:2.75pt"><font><br></font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Leasehold</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Improve-ments</font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Right-of-use assets</font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Beginning balance</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,454,552</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">380,458</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,878</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">757,111</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,740,000</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,337,999</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Rent Adjustment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(64,070)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(64,070)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10.1pt;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquisitions&#47;Capital expenditure</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">305,568</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">181,944</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">251,901</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,209,063</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,948,476</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(654,751)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(223,293)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:2.75pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,275)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(266,106)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,998,390)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,144,815)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposition&#47;Disposals&#47;<br>Removals</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(914)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,119)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10,233)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(45,160)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(58,426)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Reclassification</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,996)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,996</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.3pt;text-indent:-9.2pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Foreign exchange differences</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,610</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,925)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,685)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">116,965</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">120,965</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ending balance</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,113,069</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">338,061</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:2.75pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,603</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">726,988</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,958,408</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,140,129</font></div></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">32</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">8.  Property and Equipment, Continued</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:16.225%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.407%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.927%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.146%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.319%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.082%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.319%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.082%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.319%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.082%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.319%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.562%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.319%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.082%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.319%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.091%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="39" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Computer and other equipment</font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Furniture</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">and fixture</font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.42pt;padding-right:2.42pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Constru-ction in progress</font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt;padding-right:2.75pt"><font><br></font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.42pt;padding-right:2.42pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Vehicles</font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt;padding-right:2.75pt"><font><br></font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Leasehold</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Improve-ments</font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Right-of-use assets</font></div></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Beginning balance</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,378,968</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">310,413</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">128,163</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,153</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">132,109</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,737,240</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,695,046</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10.1pt;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquisitions&#47;Capital expenditure</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">711,660</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">321,653</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">753,223</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,318,561</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,105,097</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(646,546)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(249,410)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,275)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(223,319)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,448,318)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,569,868)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposition&#47;Disposals&#47;<br>Removals</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15,161)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,028)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(44,303)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(62,827)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(124,319)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Reclassification</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(80)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(128,163)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">128,243</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.3pt;text-indent:-9.2pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Foreign exchange differences</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25,631</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(90)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,158</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">195,344</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">232,043</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ending balance</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,454,552</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">380,458</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 3.77pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,878</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">757,111</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,740,000</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,337,999</font></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(3) Classification of depreciation expenses in the statements of comprehensive income for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:89.470%"><tr><td style="width:1.0%"></td><td style="width:48.719%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.883%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.759%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.477%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.883%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.479%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:1.4pt;text-align:justify"><font><br></font></div><div style="padding-left:1.4pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cost of revenues</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,027,837</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,102,270</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Selling, general and administrative expenses(*)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,116,978</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,467,598</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,144,815</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,569,868</font></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;padding-right:11.3pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(*) The deprecation expenses recognized as the research and development included in selling, general and administrative expenses was </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">141,035 thousand and </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">301,242 thousand, respectively, for the years ended December 31, 2022 and 2021.</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(4) As of December 31, 2022 and 2021, there are no property and equipment that are pledged as collateral for the Group&#8217;s debts.</font></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">9.  Intangible Assets</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(1) Details of intangible assets as of December 31, 2022 and 2021 are as follows&#58;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:18.203%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.525%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.122%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.640%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.380%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.123%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.380%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.769%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.380%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.106%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.380%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.349%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.380%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.704%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.670%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.801%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.388%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:155%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;padding-right:7.1pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">December 31, 2021</font></div></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;text-align:justify"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Acquisition cost</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Accumulated amortization</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(*)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Carrying</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">amount</font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Acquisition</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">cost</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Accumulated amortization</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(*)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Carrying</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">amount</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Software</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">16,285,046</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(14,345,996)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:1.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">1,939,050</font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">14,491,146</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(13,226,409)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;padding-right:24pt"><font><br></font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,264,737</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Patents</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,214,696</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(670,424)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:1.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">544,272</font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,082,626</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(600,313)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">482,313</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.6pt;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Other intangible assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,160,164</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,774,008)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:1.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">1,386,156</font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,264,360</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,669,382)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,594,978</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">23,659,906</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(19,790,428)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:1.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">3,869,478</font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">21,838,132</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(18,496,104)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,342,028</font></td></tr></table></div><div style="padding-left:16pt"><font><br></font></div><div style="padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(*) Accumulated amortization includes the amount of accumulated impairment loss.</font></div><div><font><br></font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">33</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">9.  Intangible Assets, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(2) Changes in intangible assets for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:7.1pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:23.542%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.753%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.715%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.547%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.753%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.731%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.389%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.090%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.753%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.327%"></td><td style="width:0.1%"></td></tr><tr style="height:16pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.5pt;padding-right:7.5pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></div></td></tr><tr style="height:23pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Software</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Patents</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Other intangible assets</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Beginning balance</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,264,737</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">482,313</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,594,978</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,342,028</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Acquisitions&#47;Capital expenditure</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,855,666</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">137,919</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">747,040</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">2,740,625</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,183,820)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(71,457)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(661,366)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,916,643)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Disposals</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,503)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(5,132)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(9,635)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Impairment(*)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(293,239)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(293,239)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.65pt;text-indent:-5.65pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Foreign exchange differences</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,467</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">3,875</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,342</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Ending balance</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,939,050</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">544,272</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,386,156</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">3,869,478</font></div></td></tr></table></div><div style="padding-left:31pt;text-align:justify;text-indent:-15pt"><font><br></font></div><div style="padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(*) The Group recognized </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">293,239 thousand of impairment loss as carrying amount of the other intangible assets exceeded recoverable amount as of December 31, 2022.</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:22.061%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.773%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.773%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.175%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.738%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.419%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.738%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.217%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.738%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.868%"></td><td style="width:0.1%"></td></tr><tr style="height:16pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.5pt;padding-right:7.5pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></div></td></tr><tr style="height:23pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Software</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Patents</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Other intangible assets</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:10.15pt;text-align:justify;text-indent:-10.15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Beginning balance</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,234,385</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">332,142</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">796,352</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,362,879</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Acquisitions&#47;Capital expenditure</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">116,210</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">223,743</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,676,369</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,016,322</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:10.15pt;text-align:justify;text-indent:-10.15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Amortization</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,087,557)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(73,572)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(586,413)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,747,542)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:10.15pt;text-align:justify;text-indent:-10.15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Disposals</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(14,861)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(14,861)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:10.15pt;text-align:justify;text-indent:-10.15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Impairment(*)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(281,008)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(281,008)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:4.5pt;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Foreign exchange differences</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">16,560</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(10,322)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,238</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:10.15pt;text-align:justify;text-indent:-10.15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Ending balance</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,264,737</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">482,313</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,594,978</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,342,028</font></td></tr></table></div><div style="padding-left:31pt;text-align:justify;text-indent:-15pt"><font><br></font></div><div style="padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(*) The Group recognized </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">281,008 thousand of impairment loss as carrying amount of the other intangible assets exceeded recoverable amount as of December 31, 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:10pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%"> </font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(3) Classification of amortization in the statements of comprehensive income for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:94.799%"><tr><td style="width:1.0%"></td><td style="width:46.940%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.032%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.876%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.696%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.856%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cost of revenues</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">718,992</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">737,028</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Selling, general and administrative expenses(*)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,197,651</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,010,514</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,916,643</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,747,542</font></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;padding-right:11.3pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(*) The amortization recognized as the research and development included in selling, general and administrative expenses was </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">42,509 thousand and </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">80,081 thousand, respectively, for the years ended December 31, 2022 and 2021.</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;padding-right:11.3pt;text-align:justify;text-indent:-15pt"><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">34</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">10. Employee Benefit </font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">The expenses recognized in relation to defined contribution plan for the years ended December 31, 2022 and 2021 are </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">2,180,830 thousand and </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">2,067,288 thousand, respectively. In addition, expenses related to defined benefit plans amounting to </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">27,776 thousand are included in other non-current liabilities as of December 31, 2022.</font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">11. Commitments</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(1) The Parent Company has entered into exclusive license agreements with foreign licensees, such as GungHo Online Entertainment, Inc., Innova Intellectual Properties S.a.r.l, Shanghai BING KUAI Network Technology Co. Ltd., Relaternity(Hong Kong) Limited and others to provide exclusive license to distribute and sell online and mobile games and receives a certain portion of each licensee&#8217;s revenues (20-40%) as royalties.</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(2) In July 2021, the Parent Company entered into development agreements with Shanghai TA REN Network Technology Co., Ltd. to grant them the right to develop mobile games based on the contents of Ragnarok IP(ROIP) and distribute such games in China for 3 years from the agreement date.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:145%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">Under the terms of the agreement, the Parent Company is entitled to receive from the licensee a royalty equal to a percentage of the applicable revenue generated.</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(3) As of December 31, 2022, the Parent Company has entered into license agreements with various third-party game developers to secure exclusive right to publish the games developed by the third-party developers. Upfront license fees paid are capitalized and recognized as other intangible assets and minimum guaranteed royalties are capitalized and recognized as other non-current assets. Purchase obligations for future payment related to above agreements as of December 31, 2022 and 2021 are </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">3,242,395 thousand and </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">2,335,425 thousand, respectively.</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(4) As of December 31, 2022, the Group benefited from payment guarantee of USD 658,500 from KB Kookmin Bank regarding overseas IP contracts.</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(5) As of December 31, 2022, the Group has been provided with a payment guarantee amounting to </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">2,105,054 thousand from Seoul Guarantee Insurance Co., Ltd.</font></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">12. Share Capital and Capital Surplus</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(1) Details of common shares as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:94.315%"><tr><td style="width:1.0%"></td><td style="width:41.879%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.656%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.352%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.197%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.358%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.658%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In won and in number of shares)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Number of authorized shares</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">40,000,000</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">40,000,000</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Value per share</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">500</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">500</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Number of shares issued</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,948,900</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,948,900</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Common shares</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,474,450,000</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,474,450,000</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">35</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">12. Share Capital and Capital Surplus, continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(2) Details of capital surplus as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:94.476%"><tr><td style="width:1.0%"></td><td style="width:41.464%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.825%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.344%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.857%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.193%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.489%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.828%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Additional paid-in capital</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.1pt;padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25,292,211</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25,292,211</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other capital surplus</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,806,053</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,806,053</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">27,098,264</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">27,098,264</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(3) Details of other components of equity as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:93.992%"><tr><td style="width:1.0%"></td><td style="width:48.728%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.518%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.882%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.487%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.518%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.205%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.662%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Foreign currency translation adjustments </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,480,169</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,182,321</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Remeasurements of defined benefit liability </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,494)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,933)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,475,675</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,180,388</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:10pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(4) Details of retained earnings as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:93.830%"><tr><td style="width:1.0%"></td><td style="width:45.371%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.660%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.547%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.791%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.865%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.103%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.663%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Unappropriated retained earnings</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">296,479,528</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">213,317,805</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(5) According to the Parent Company's Articles of Incorporation, the Parent Company may issue 2,000,000 shares of preferred stock without voting rights, and there are no preferred shares issued as of December 31, 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">13. Revenue from Contracts with Customers</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(1) Details of revenue from contracts with customers based on the service contract type and the timing of satisfaction of performance obligations are as follows&#58; </font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:94.315%"><tr><td style="width:1.0%"></td><td style="width:52.495%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.827%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.180%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.078%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.539%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.050%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.831%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Service contract</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Micro-transaction and subscription revenue</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">341,769,516</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">229,028,411</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;- Online Game</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">80,147,610</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">64,382,094</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;- Mobile Game</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">261,621,906</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">164,646,317</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Royalties and license fees</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">106,258,433</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">166,505,539</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;- Online Game</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,108,796</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,988,301</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;- Mobile Game</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">97,149,637</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">155,517,238</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Others</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">15,589,923</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18,404,024</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">463,617,872</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">413,937,974</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Timing of satisfaction of performance obligations</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">At a point in time</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">24,867</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,496</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Over time</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">463,593,005</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:18pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">413,930,478</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">463,617,872</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;padding-right:31.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">413,937,974</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">36</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">13. Revenue from Contracts with Customers, Continued</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(2) Accounts receivables, incremental costs of obtaining a contract and contract liabilities related to contracts with customers as of December 31, 2022 and December 31, 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.806%"><tr><td style="width:1.0%"></td><td style="width:51.812%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.770%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.239%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.802%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.932%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.670%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.775%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accounts receivable</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;padding-right:18pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">77,256,816</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">52,614,595</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Incremental costs of obtaining a contract (Prepaid expenses)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,722,257</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:18pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">860,626</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Contact liabilities (Deferred revenue)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:18pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18,573,276</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:13.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13,578,744</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Micro-transaction and subscription revenue</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">16,787,724</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:9pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">12,622,063</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Royalties and license fees</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100,835</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:9pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">116,281</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Website and application development</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,684,717</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:9pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">840,400</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:153%">(3) The amount of revenue recognized from previous period&#8217;s contract liabilities satisfied during the year ended December 31, 2022 is </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:153%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:153%">13,480,518 thousand (</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:153%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:153%">12,622,063 thousand in micro-transaction and subscription revenue, </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:153%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:153%">18,055 thousand in royalties and license fees, and</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:153%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:153%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:153%">840,400 thousand in website and application development).</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(4) Transaction price allocated to unsatisfied performance obligations as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:94.638%"><tr><td style="width:1.0%"></td><td style="width:49.923%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.507%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.548%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.823%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.576%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Micro transaction and subscription revenue</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">16,787,724</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">12,622,063</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;- Online Game</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,917,830</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,374,114</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;- Mobile Game</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,869,894</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,247,949</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Royalties and license fees</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100,835</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">116,281</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;- Online Game</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">48,563</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">95,755</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;- Mobile Game</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">52,272</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">20,526</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Website and application development</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,684,717</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">840,400</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18,573,276</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13,578,744</font></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:15pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">The Group&#8217;s management expects to recognize 99.8% (</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">18,543,037 thousand) of the transaction price allocated to contracts that have not been performed as of December 31, 2022 as revenue within 12 months. The remaining 0.2% (</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">30,239 thousand) is expected to be recognized as revenue thereafter. The amounts disclosed above do not include variable consideration which is constrained.</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(5) Details of incremental costs of obtaining a contract recognized as assets as of December 31, 2022 and 2021 are as follows&#58; </font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.576%"><tr><td style="width:1.0%"></td><td style="width:50.572%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.803%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.080%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.970%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.803%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.972%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Incremental costs of obtaining a contract recognized as at the reporting period-end</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,722,257</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">860,626</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:9.55pt;text-indent:-9.55pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Incremental costs of obtaining a contract recognized as cost of revenues</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:18pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">860,626</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,276,880</font></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">37</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">14. Classification of expenses by nature</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Details of classification of expenses by nature for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.414%"><tr><td style="width:1.0%"></td><td style="width:52.501%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.805%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.422%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.995%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.145%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.325%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.807%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fees and commissions</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">259,023,534</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">215,612,852</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Advertising expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">29,897,515</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">35,947,806</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Salaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">40,315,384</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">35,532,330</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Outsourcing expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,414,715</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">12,997,334</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Rent</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,178,964</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,125,317</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Employee benefits</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,895,228</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,389,869</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Expenses related to defined contribution plan</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,255,265</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,090,517</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Depreciation</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,144,815</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,569,868</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,916,643</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,747,542</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Others</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,734,013</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,360,644</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">358,776,076</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">316,374,079</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:16pt;text-indent:5pt"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Total expenses consist of cost of sales, selling, general and administrative expenses.</font></div><div style="padding-left:36pt;text-indent:-15pt"><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">15. Selling, General and Administrative Expenses</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Details of the selling, general and administrative expenses for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:88.016%"><tr><td style="width:1.0%"></td><td style="width:48.441%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.717%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.037%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.266%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.552%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.266%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.721%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Advertising expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">29,897,515</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">35,947,806</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fees and commissions</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">15,908,570</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13,959,003</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Salaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">17,597,803</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">15,490,971</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Research and development</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13,797,195</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">16,569,508</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Employee benefits</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,971,902</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,597,984</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Rent</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">645,868</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">529,623</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Expenses related to defined contribution plan</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">782,814</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">729,380</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Depreciation</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,975,943</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,166,356</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,155,142</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">930,433</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,678,181</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,280,113</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">91,410,933</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">92,201,177</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:36pt;text-indent:-15pt"><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">38</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">16. Finance Income and Costs</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(1) Details of finance income for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:88.178%"><tr><td style="width:1.0%"></td><td style="width:48.350%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.898%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.845%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.779%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.364%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.863%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.901%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Finance income</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest income</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,500,817</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,383,177</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Unrealized foreign currency gain</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">688,970</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">133,980</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gain on foreign currency transactions</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,763,679</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,751,378</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-align:justify;text-indent:4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">15,953,466</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,268,535</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(2) Details of finance costs for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:88.339%"><tr><td style="width:1.0%"></td><td style="width:48.260%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.896%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.836%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.106%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.359%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.644%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.899%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Finance costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest expense</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">126,826</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">115,321</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Unrealized foreign currency loss</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,311,650</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">210,730</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Loss on foreign currency transactions</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,340,885</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,360,119</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-align:justify;text-indent:4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,779,361</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,686,170</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">17. Other Non-Operating Income and Expenses</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1) Details of other non-operating income for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:89.470%"><tr><td style="width:1.0%"></td><td style="width:47.636%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.702%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.773%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.560%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.327%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.297%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.705%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gain on disposal of property and equipment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">14,557</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,648</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Others</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">590,759</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">600,083</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">605,316</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">606,731</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(2) Details of other non-operating expenses for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:89.470%"><tr><td style="width:1.0%"></td><td style="width:47.636%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.883%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.773%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.560%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.327%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.936%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.885%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Loss on disposal of property and equipment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">56,897</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Loss on disposal of intangible assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,503</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Impairment loss on intangible assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">293,239</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">281,008</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Impairment loss on other non-current assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">176,908</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,087,357</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Donations</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,200</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Miscellaneous loss</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">264,772</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25,997</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">739,440</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:2pt double #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,452,459</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">39</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">18. Income tax expense </font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(1) Details of income tax expense for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:89.793%"><tr><td style="width:1.0%"></td><td style="width:49.979%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.699%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.756%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.043%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.317%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.504%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.702%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Current tax expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:9.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Current year</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">27,932,523</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">29,903,384</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:14.1pt;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjustments recognized related to prior period income</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,646,777</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Deferred tax expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10.6pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Changes in net deferred tax assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,108,334)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,870,580</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Income tax expense </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26,824,189</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">33,420,741</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(2) The differences between the tax expense on the Group&#8217;s profit before tax and the amount that would arise using the statutory tax rates applicable to profits of the entities are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.191%"><tr><td style="width:1.0%"></td><td style="width:61.728%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.786%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.176%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.209%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.102%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.209%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.790%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Profit before income tax expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">109,881,777</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">99,300,532</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Income tax using the statutory tax rate of each country</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">23,951,343</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25,957,358</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Expenses not deductible for tax purposes</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,251</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,096</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Foreign tax credits</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,028,180</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,499,964</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Utilization of previously unrecognized tax losses</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(238,942)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjustments recognized related to prior period income</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,646,777</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Tax credit</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,131,375)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(765,118)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Additional tax for insufficient investments in designated areas</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,085,166</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">487,118</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:9.55pt;text-indent:-5.05pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Changes in deferred tax liabilities related to investment in subsidiaries</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,100,831)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,350,956</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Others</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">223,397</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">232,590</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total Adjustment</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,872,846</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,463,383</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Income tax expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26,824,189</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">33,420,741</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Effective tax rate</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">24%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">34%</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:10pt;text-align:justify"><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">40</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">18. Income tax expense, Continued</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(3) Details of the changes in deferred tax assets (liabilities) for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:23.784%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.582%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.255%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.727%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.646%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.727%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.255%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.500%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.719%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.727%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.646%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.727%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.805%"></td><td style="width:0.1%"></td></tr><tr style="height:14pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:174%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</font></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">Beginning </font></div><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">balance</font></div></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">Increase</font></div><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">(Decrease)</font></div></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:0 1pt"><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">Ending</font></div><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">balance</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">Beginning </font></div><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">balance</font></div></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">Increase</font></div><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">(Decrease)</font></div></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:0 1pt"><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">Ending</font></div><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">balance</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">Property and equipment</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:8pt;text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">33,573</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">4,921</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">38,494</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">11,148</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">22,425</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">33,573</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">Intangible assets</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">398,062</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">43,607</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">441,669</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">402,613</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(4,551)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">398,062</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">Other non-current assets</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">528,413</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(326,429)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">201,984</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">503,856</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">24,557</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">528,413</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">Accounts Payable</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">1,403,933</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">296,800</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">1,700,733</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">1,468,833</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(64,900)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">1,403,933</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">Accrued expenses</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">192,895</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">40,043</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">232,938</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">177,549</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">15,346</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">192,895</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">Deferred revenue</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">311,128</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(217,548)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">93,580</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">497,185</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(186,057)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">311,128</font></div></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">Allowance for doubtful account</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">367,279</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(68,251)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">299,028</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">285,002</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">82,277</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">367,279</font></div></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:9.6pt;text-indent:4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">Other non-current liabilities</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">75,468</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">5,300</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">80,768</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">46,264</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">29,204</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">75,468</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">Lease</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(43,203)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">13,317</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(29,886)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">7,932</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(51,135)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(43,203)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:9.6pt;text-indent:4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">Investment in subsidiaries</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(3,758,889)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">967,510</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(2,791,379)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(2,576,624)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(1,182,265)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(3,758,889)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:9.6pt;text-indent:4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">Others</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(2,925)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(274,977)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(277,902)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">42,745</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(45,670)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(2,925)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Subtotal</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:4pt;text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(494,266)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">484,293</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(9,973)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:3.15pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">866,503</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(1,360,769)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(494,266)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.6pt;text-indent:-4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">Deferred tax due to carry-forward deficits</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">134,931</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">624,041</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">758,972</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:3.15pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">134,931</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">134,931</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.6pt;text-indent:-4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">Deferred tax due to tax credit carry-forward</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">2,078,824</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">2,078,824</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:3.15pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">2,723,566</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(644,742)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">2,078,824</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">Deferred tax asset(*) </font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4pt;text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">1,719,489</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">3,940,032</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">5,659,521</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:3.15pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">3,590,069</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(1,870,580)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">1,719,489</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax liability</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.3pt;padding-right:1.3pt;text-align:center;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(2,831,698)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(2,831,698)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:3.15pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">-</font></div></td></tr></table></div><div style="padding-left:36pt;text-align:justify;text-indent:-20pt"><font><br></font></div><div style="padding-left:7.1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:139%">(*) The future realizability of deferred tax assets is assessed by taking into consideration various factors such as each subsidiaries&#8217; performance, the overall economic environment and industry outlook, expected future earnings, and deductible period of tax credit carry-forward and carry-forward deficits. The Group periodically reviews these matters, and has recognized deferred tax assets related to temporary differences, carry-forward deficits, based on the likelihood of each subsidiaries&#8217; future taxable income as at December 31, 2022. This amount may change if the estimate for future taxable income changes.</font></div><div style="padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font><br></font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(4) Details of unused tax loss carryforwards and unused tax credit carry-forwards that are not recognized as deferred income tax assets as of December 31, 2022 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:94.153%"><tr><td style="width:1.0%"></td><td style="width:37.836%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.829%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.359%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.972%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.201%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.972%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.831%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Year of expiration</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Unused loss carryforwards</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Unused tax credit carryforwards</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,585,403</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2025</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,421,329</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">159,967</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2026</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,002,452</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">175,371</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2027</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">352,039</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">162,959</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">After 2027</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,056,593</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,614,460</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">15,417,816</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,112,757</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:21.3pt;text-align:justify;text-indent:-14.2pt"><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">41</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">18. Income tax expense, Continued</font></div><div style="padding-left:38pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(5)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:6.88pt">As of December 31, 2022 and 2021, the Group did not recognize deferred income tax assets relating to investments in subsidiaries for the temporary difference of </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">22,409,140 thousand and </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">15,507,775 as it is not probable such temporary differences can be utilized in the foreseeable future.</font></div><div style="padding-left:14.2pt;text-align:justify"><font><br></font></div><div style="padding-left:38pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(6)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:6.88pt">The deferred tax relating to items that are charged or credited directly to equity for the years ended December 31, 2022 and 2021, is as follows&#58; </font></div><div style="padding-left:32.2pt;text-align:justify"><font><br></font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:92.377%"><tr><td style="width:1.0%"></td><td style="width:61.137%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.548%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.969%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.934%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.548%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.064%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2021</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Deferred tax assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;- Deferred tax assets to be recovered after more than 12 months</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,934,909</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,421,732</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">- Deferred tax assets to be recovered within 12 months</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,074,755</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,294,537</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Sub-total</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,009,664</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">6,716,269</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Deferred tax liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#160;&#160;&#160;&#160;- Deferred tax liabilities to be recovered after more than 12 months</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,123,678)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,775,541)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#160;&#160;&#160;&#160;- Deferred tax liabilities to be recovered within 12 months</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,058,163)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,221,239)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Sub-total</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,181,841)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,996,780)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Deferred tax assets (liabilities), net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,827,823</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,719,489</font></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">19. Earnings per share</font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">Basic earnings per share is calculated by dividing the profit attributable to owners of the Parent by the weighted average number of common shares outstanding each year.</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(1) Basic earnings per share</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:93.992%"><tr><td style="width:1.0%"></td><td style="width:52.680%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.659%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.539%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.628%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.377%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.456%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.661%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands won and in number of shares)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Profit attributable to owners of the Parent</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">83,161,723</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">65,946,650</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Weighted average outstanding shares of common shares</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,948,900</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,948,900</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Basic earnings per share(in won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,968</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,490</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:36.15pt;text-indent:-20.15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(2) Diluted earnings per share</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">As of and for the years ended December 31, 2022 and 2021, the Parent Company does not have outstanding dilutive potential ordinary shares. Accordingly, the diluted earnings per share for the years ended December 31, 2022 and 2021 are the same as the basic earnings per share.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">42</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">20. Cash flow information</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(1) Adjustments for calculating cash generated from operations for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:93.184%"><tr><td style="width:1.0%"></td><td style="width:50.199%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.839%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.579%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.177%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.226%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.137%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.843%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjustments for&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Depreciation</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,144,815</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,569,868</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Amortization </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,916,643</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,747,542</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Bad debt expense</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">701,609</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">933,226</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Unrealized foreign currency loss</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,311,650</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">210,730</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest expense</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">126,826</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">115,321</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Loss on disposal of property and plant</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">56,897</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Loss on disposal of intangible assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,503</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Impairment loss on intangible asset</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">293,239</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">281,008</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Impairment loss on other non-current assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">176,908</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,087,357</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Retirement benefit expenses</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">65,051</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">23,229</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Income tax expense</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26,824,189</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">33,420,741</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Unrealized foreign currency gain</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(688,970)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(133,980)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gain on disposal of property and plant</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(14,557)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(6,648)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest income</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,500,817)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,383,177)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Reversal of allowance for doubtful accounts</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(131,927)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,741</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(214,408)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">31,362,848</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">40,575,779</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(2) Changes in assets and liabilities arising from operating activities for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.607%"><tr><td style="width:1.0%"></td><td style="width:50.758%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.813%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.291%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.677%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.164%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.481%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.816%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accounts receivable</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(38,198,514)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,529,558</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other receivables</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">898,995</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,081,577)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Prepayment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,640,590)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,165,238</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Prepaid expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(104,362)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,296,129)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other current assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(52,753)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">243,483</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other non-current assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">217,785</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">144,235</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accounts payable</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">43,899,612</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(8,512,361)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Deferred revenue</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,915,259</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,184,816</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Withholding</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(631,006)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">685,623</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accrued expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">546,763</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">118,271</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other current liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">301,121</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">34,011</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accrued income</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">86,830</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Long-term deferred revenue</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(12,577)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(99,044)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other non-current liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">27,562</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,254,125</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,883,876)</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">43</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">20. Cash flow information, Continued</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(3) Significant non-cash transactions for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.998%"><tr><td style="width:1.0%"></td><td style="width:67.741%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.630%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.298%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.431%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.300%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Reclassification of prepayment to intangible assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">63,841</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">219,487</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Increase in accounts payable relating to the acquisition of software</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">608,575</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">667,078</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Acquisition of right-of-use assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,209,063</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,055,394</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(4) Changes in liabilities arising from financing activities for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.253%"><tr><td style="width:1.0%"></td><td style="width:51.752%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.806%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.316%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.597%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.356%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.806%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.356%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.811%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;padding-right:7.1pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Beginning of the year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,730,563</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,900,216</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash flows used in financial activities &#8211; payment of lease liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,917,977)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,647,934)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash flows used in operating activities &#8211; Interest paid</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(121,724)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(111,416)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Non-cash transactions&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Acquisitions &#8211; leases</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,209,063</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,055,394</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest expense</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">121,724</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">111,416</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Others</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(124,245)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Translation difference</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">65,781</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">422,887</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Ending of the year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,963,185</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,730,563</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">44</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">21. Leases</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group leases offices, vehicles and others. The leases typically run for a period of 1&#126; 5 years with an option to renew or terminate the lease after that date. There are no restrictions or covenants imposed to leases, but the lease assets are not be provided as collateral for borrowings.</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(1) Details of right-of-use assets and lease liabilities recognized in the consolidated statements of financial position as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:91.085%"><tr><td style="width:1.0%"></td><td style="width:39.148%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.686%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.459%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.041%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.190%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.686%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.722%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.868%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;padding-right:7.1pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Right-of-use assets(*1)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 11pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Offices</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,066,896</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,698,105</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 11pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Vehicles</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">64,692</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">292,432</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 11pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Others</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">826,820</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,749,463</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,958,408</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,740,000</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Lease liabilities(*2)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 11pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Current</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,906,064</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,606,965</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 11pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Non-current</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,057,121</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,123,598</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,963,185</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,730,563</font></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="padding-left:33.7pt;text-align:justify;text-indent:-17.7pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:33.7pt;text-align:justify;text-indent:-17.7pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(*1) Right-of-use assets are included in the 'Property and equipment' in the consolidated statement of financial position.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-20pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(*2) Lease liabilities are included in the 'Other current liabilities' and 'Other non-current liabilities' in the consolidated statement of financial position.</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(2) Changes in right-of-use assets for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:26.400%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.388%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.135%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.605%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.458%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.564%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.223%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.229%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:1.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:186%">(In thousands of won</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:186%">)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="30" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Offices</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Vehicles</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Others</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Balance as of January 1, 2022</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">6,698,105</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">292,432</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">1,749,463</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">8,740,000</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Depreciation</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(2,549,438)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(231,476)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(1,217,476)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(3,998,390)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Reassessment</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">1,035</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(52,415)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(12,690)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(64,070)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Acquisitions</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">923,137</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">55,417</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">230,509</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">1,209,063</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Disposals</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(45,160)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(45,160)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Translation difference</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">39,217</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">734</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">77,014</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">116,965</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Balance as of December 31, 2022</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">5,066,896</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">64,692</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">826,820</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">5,958,408</font></div></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">45</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">21. Leases, Continued</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(2) Changes in right-of-use assets for the years ended December 31, 2022 and 2021 are as follows, Continued&#58;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.240%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.387%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.130%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.877%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.387%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.562%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.584%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.387%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.562%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.465%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.387%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.562%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.470%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:1.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:186%">(In thousands of won</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:186%">)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="30" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Offices</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Vehicles</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Others</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Balance as of January 1, 2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">3,904,222</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">102,149</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">1,730,869</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">5,737,240</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Depreciation</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(2,077,867)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(186,968)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(1,183,483)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(3,448,318)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Reassessment</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">2,017,711</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">1,355</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">2,019,066</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Acquisitions</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">2,730,665</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">377,785</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">1,191,045</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">4,299,495</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Disposals</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(61,020)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(1,807)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(62,827)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Translation difference</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">184,394</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">1,273</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">9,677</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">195,344</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Balance as of December 31, 2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">6,698,105</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">292,432</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">1,749,463</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">8,740,000</font></div></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%"> (3) Details of amounts recognized in the consolidated statements of comprehensive income for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.321%"><tr><td style="width:1.0%"></td><td style="width:66.704%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.965%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.932%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.775%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.046%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.778%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;padding-right:7.1pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest expense relating to lease liabilities (included in finance cost)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">121,724</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">111,416</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Expense relating to short-term leases</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">44,684</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">117,000</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Expense relating to leases of low-value assets excluding short-term leases</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">22,987</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">20,547</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(4) Details of amounts recognized in the consolidated statement of cash flows for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:93.023%"><tr><td style="width:1.0%"></td><td style="width:38.309%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.668%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.404%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.934%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.684%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.668%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.288%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.845%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;padding-right:7.1pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total cash outflows of leases</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,107,372</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,896,897</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">22. Financial Risk Management</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group&#8217;s operating activities expose itself to a variety of financial risks&#58; market risk, credit risk and liquidity risk from which the Group&#8217;s risk management program focuses on minimizing any adverse effects on its financial performance. The Group operates financial risk management policies and programs that closely monitor and respond to each risk factor.</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(1) Capital Risk Management</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group&#8217;s objectives when managing capital are to safeguard the Group&#8217;s ability to continue as a going concern, so the Group can continue to provide returns and benefits for shareholders and to maintain an optimal capital structure to reduce the cost of capital. The Group monitors capital on the basis of the debt ratio. This ratio is calculated as total debt divided by total capital. The debt ratios as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">46</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">22. Financial Risk Management, Continued</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:73.481%"><tr><td style="width:1.0%"></td><td style="width:25.273%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.118%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.273%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:30.328%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.196%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.790%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.122%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total Liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">113,914,159</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">80,685,465</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total Equity</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">330,179,821</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">246,840,858</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Debt ratio</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">35%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">33%</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(2) Market Risk</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(a) Foreign exchange risk</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Group is exposed to foreign exchange risk arising from royalty revenues and commission payment primarily with respect to the US dollar. The Group&#8217;s financial assets and liabilities are exposed to foreign currency risk as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.191%"><tr><td style="width:1.0%"></td><td style="width:16.992%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.457%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.267%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.814%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.457%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.609%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.182%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.457%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.847%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.498%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.457%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.457%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.840%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.466%"></td><td style="width:0.1%"></td></tr><tr><td colspan="39" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won, in foreign currencies)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-align:justify;text-indent:1.6pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="30" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Assets in foreign </font></div><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">currency</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Liabilities in foreign currency</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Assets in </font></div><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Korean Won</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Liabilities in Korean Won</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">USD</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">50,865,141</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">8,528,692</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">64,350,719</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">10,831,632</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">JPY</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">517,431,793</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">55,296,530</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">4,932,056</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">527,075</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">EUR</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">25,839</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">37,607</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">34,914</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">50,905</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">IDR</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">12,955,000</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">703,608,946</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">1,048</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">57,279</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">THB</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">28,510</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">7,379</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">1,045</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">270</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">VND</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">9,270,000</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">3,243,600</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">498</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">174</font></div></td></tr><tr><td colspan="21" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%;text-decoration:line-through">W </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">69,320,280</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">11,467,335</font></div></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:17pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.191%"><tr><td style="width:1.0%"></td><td style="width:16.992%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.457%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.267%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.814%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.457%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.609%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.182%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.457%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.847%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.498%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.457%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.457%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.840%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.466%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-align:justify;text-indent:1.6pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="30" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Assets in foreign </font></div><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">currency</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Liabilities in foreign currency</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Assets in </font></div><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Korean Won</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Liabilities in Korean Won</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">USD</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">28,112,919</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">13,921,628</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">33,327,865</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">16,504,090</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">JPY</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">690,658,516</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">88,019,006</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">7,115,440</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">906,807</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">EUR</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">356,541</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">41,564</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">478,599</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">55,792</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">IDR</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">12,955,000</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:18pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">3,103,944</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">1,077</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">258</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">THB</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">28,510</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">7,379</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">1,014</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">262</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">TWD</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">9,521,305</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:13.5pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">407,893</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">-</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">VND</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">9,270,000</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">3,243,600</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">483</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">169</font></div></td></tr><tr><td colspan="21" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%;text-decoration:line-through">W </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">41,332,371</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">17,467,378</font></div></td></tr></table></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">The Group measures foreign exchange risk at the exchange rate of 10% for each foreign currency, and the rate of change reflects the management's assessment of the risk of exchange rate fluctuation that can be reasonably experienced. The effects of changes in foreign currency exchange rate on profit before tax for the years ended of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">47</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">22. Financial Risk Management, Continued</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:15.541%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.405%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.379%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.962%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.405%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.859%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.508%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.312%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.054%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.405%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.707%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.663%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:186%">(In thousands of won</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:186%">)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="12" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Increased by 10%</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Decreased by 10%</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Increased by 10%</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Decreased by 10%</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">USD</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">5,351,909</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(5,351,909)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">1,682,378</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(1,682,378)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">JPY</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">440,498</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(440,498)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">620,863</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(620,863)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Others</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(7,112)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">7,112</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">83,258</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(83,258)</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">5,785,295</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(5,785,295)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">2,386,499</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">(2,386,499)</font></div></td></tr></table></div><div style="padding-left:16pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">The sensitivity analysis is based on monetary assets and liabilities denominated in foreign currencies other than the functional currency at the end of the reporting period.</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(b) Interest rate risk</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">There are no borrowings under variable interest rate conditions as of December 31, 2022 and 2021.</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(c) Price risk</font></div><div style="padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">There are no assets and liabilities exposed to price risk as of December 31, 2022 and 2021.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">48</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">22. Financial Risk Management, Continued</font></div><div style="margin-bottom:3pt;margin-top:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(3) Credit Risk</font></div><div style="margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">Credit risk arises from normal trading and investing activities and occurs when a customer or a counterparty fails to comply with the terms of the contract. In order to manage these credit risks, the Group regularly evaluates the creditworthiness of customers based on their financial condition, past experiences and other factors.</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">The carrying amounts of financial assets represent their maximum exposure to credit risk. The maximum exposure to credit risk of the Group as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:85.109%"><tr><td style="width:1.0%"></td><td style="width:39.886%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.833%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.188%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:1.936%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.941%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">169,877,341</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">99,104,943</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Short-term financial instruments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">167,000,000</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">148,000,000</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accounts receivable, net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">77,256,816</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">52,614,595</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other receivables, net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,943</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,085</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other current financial assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,370,146</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">598,099</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Oher non-current financial assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,175,769</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,018,823</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">419,692,015</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">303,342,545</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">Cash and cash equivalents and short-term financial instruments are deposited in financial institutions with strong credit ratings. Accounts receivable are mainly due from payment processing companies and platform service providers, which the Group believes have low levels of credit risk.</font></div><div style="padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(4) Liquidity Risk</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">Liquidity risk management includes the maintenance of sufficient cash and marketable securities, the availability of funds from appropriately committed credit lines, and the ability to settle market positions. The following table summarizes the financial liabilities of the Group by maturity according to the remaining period from the end of the reporting period to the contractual maturity date.</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.967%"><tr><td style="width:1.0%"></td><td style="width:19.578%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:1.969%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.208%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.446%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.562%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.446%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.253%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.562%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.446%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.370%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.769%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.446%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.723%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.446%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.186%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:174%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="48" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2022</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Carrying<br>value</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Less than</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">3 months</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months to 1 year</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">1 to 2 years</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">2 to 4 years</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">Total</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accounts payable</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">70,543,819</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">69,803,179</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">366,651</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">373,989</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">70,543,819</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accrued expense</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:188pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">429,132</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">429,132</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">429,132</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other liabilities (*)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt;padding-right:88pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">5,963,185</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">1,015,699</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">2,022,828</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">2,475,989</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">617,724</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">6,132,240</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">76,936,136</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">71,248,010</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">2,389,479</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">2,849,978</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">617,724</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">77,105,191</font></div></td></tr></table></div><div style="padding-left:29.9pt;text-align:justify;text-indent:-10.7pt"><font><br></font></div><div style="padding-left:29.9pt;text-align:justify;text-indent:-10.7pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(*) Other liabilities as of December 31, 2022 consist of lease liabilities.</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">49</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">22. Financial Risk Management, Continued</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(4) Liquidity Risk, Continued</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:20.214%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:1.944%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.117%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.441%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.921%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.476%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.441%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.242%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.476%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.441%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.921%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.278%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.761%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.441%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.637%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.921%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.441%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.087%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:174%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="48" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">December 31, 2021</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Carrying<br>value</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Less than</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">3 months</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3 months to 1 year</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">1 to 2 years</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">2 to 4 years</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:174%">Total</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accounts payable</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">37,593,429</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">28,906,524</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">7,957,732</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">729,173</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">37,593,429</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accrued expense</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:188pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">49,299</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">49,299</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">49,299</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other liabilities (*)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt;padding-right:88pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">8,730,563</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">988,045</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">2,714,866</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">2,601,211</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">2,596,488</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">8,900,610</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">46,373,291</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">29,943,868</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">10,672,598</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">3,330,384</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">2,596,488</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:0.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:0.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:174%">46,543,338</font></div></td></tr></table></div><div style="padding-left:29.9pt;text-align:justify;text-indent:-10.7pt"><font><br></font></div><div style="padding-left:29.9pt;text-align:justify;text-indent:-10.7pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(*) Other liabilities as of December 31, 2021 consist of lease liabilities.</font></div><div style="margin-top:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">The cash flows above are not discounted and the amount due within 12 months is the same as the carrying amount since the effect of the discount is not material.</font></div><div style="margin-top:12pt"><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">23. Segment information</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(1) Operating segments</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">The Group determines its operating segments by establishing strategic decisions. Chief operating decision maker (&#8220;CODM&#8221;) reviews operating profit by each segment in order to make decisions regarding the resources to be allocated to the segment and to evaluate the performance of the segment.</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">The reportable segments of the Group are in line with the organizational structure and CEO&#8217;s review of operations, and include mobile, online, and others.</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">The Group assesses the performance of its operating segments based on its operating profit or loss, which does not differ from operating profit reported on the consolidated statement of comprehensive income except for inter-segment transactions. The segment information for the years ended December 31, 2022 and 2021 are as follows.</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:15.742%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.055%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.133%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.153%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.727%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.153%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.727%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.852%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.629%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.087%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.153%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.485%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:164%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="42" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Online</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Mobile</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Others</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Total</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Inter-segment</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">eliminations(*1) </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Total</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Revenue</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:14.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">107,325,802</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">404,363,059</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">21,739,535</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">533,428,396</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:16pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Intersegment Revenue</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:188pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18,069,396</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">45,591,515</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,149,613</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">69,810,524</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(69,810,524)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:16pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">External Revenue</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:188pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">89,256,406</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">358,771,544</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">15,589,922</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">463,617,872</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:16pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">463,617,872</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Depreciation&#47;</font></div><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">amortization</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:188pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:14.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">1,348,633</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">1,873,302</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,839,523</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,061,458</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:16pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,061,458</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Operating profit(*2)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt;padding-right:88pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:14.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">47,450,349</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">57,437,914</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">623,417</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">105,511,680</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">(669,884)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:16pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">104,841,796</font></td></tr></table></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(*1) The Group reflects inter-segment eliminations as adjustments.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-20pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(*2) Other profit or loss items that do not constitute operating profit (loss) are not separately disclosed as they are not reviewed by the chief operating decision maker by operating segment</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">.</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">50</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">23. Segment information, Continued</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(1) Operating segments, Continued</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:15.740%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.035%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.163%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.396%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.141%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.779%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.396%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.141%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.779%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.396%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.843%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.673%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.396%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.952%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.141%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.529%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:164%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="42" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Online</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Mobile</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Others</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Total</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Inter-segment</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">eliminations(*1) </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Total</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Revenue</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">90,122,650</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">346,928,640</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">23,416,966</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">460,468,256</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:16pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Intersegment Revenue</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:188pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">14,752,255</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26,765,085</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,012,942</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">46,530,282</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(46,530,282)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:16pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">External Revenue</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:188pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">75,370,395</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">320,163,555</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18,404,024</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">413,937,974</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:16pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">413,937,974</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Depreciation&#47;</font></div><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">amortization</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:188pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,974,227</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">1,875,207</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">2,467,976</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">6,317,410</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:16pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">6,317,410</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Operating profit(*2)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt;padding-right:88pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">32,084,067</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">65,144,121</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">821,701</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">98,049,889</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(485,994)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:16pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">97,563,895</font></td></tr></table></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(*1) The Group reflects inter-segment eliminations as adjustments.</font></div><div style="margin-bottom:12pt;padding-left:36.3pt;text-align:justify;text-indent:-20.4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(*2) Other profit or loss items that do not constitute operating profit (loss) are not separately disclosed as they are not reviewed by the chief operating decision maker by operating segment.</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%"> (2) Revenue from external customers by country for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:84.463%"><tr><td style="width:1.0%"></td><td style="width:31.213%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.094%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:26.815%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.341%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.286%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.951%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(*)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(*)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Korea</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">46,718,924</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">73,750,935</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Taiwan</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">175,663,666</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">77,462,311</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Japan</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26,132,619</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">40,259,220</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">United States of America</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">33,697,091</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">20,893,708</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Thailand</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">75,498,392</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">94,475,403</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Philippines</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26,002,875</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">20,172,684</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Indonesia</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,472,177</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,722,875</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Hong Kong</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">24,397,107</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,648,024</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Malaysia</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">24,829,781</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">30,422,263</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25,205,240</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">38,130,551</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">463,617,872</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">413,937,974</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:16.5pt;text-align:justify;text-indent:-14.2pt"><font><br></font></div><div style="padding-left:28.3pt;text-align:justify;text-indent:-12.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(*) Revenue was attributed to the country based on the customer&#8217;s location.</font></div><div style="padding-left:15.8pt;text-align:justify;text-indent:-14.2pt"><font><br></font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(3) Non-current assets by geographical regions as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:14.2pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:78.972%"><tr><td style="width:1.0%"></td><td style="width:24.462%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.253%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.057%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:29.779%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.580%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.938%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.031%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(*)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(*)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Domestic</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,182,784</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,883,766</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Overseas</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,308,667</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,769,325</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">14,491,451</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">16,653,091</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(*) The amounts are exclusive of financial assets and deferred tax assets.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">51</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">23. Segment information, Continued</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(4) 16.5% of consolidated revenue (</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">76,581,501 thousand) came from one major customer in the mobile segment for the year ended December 31, 2022.</font></div><div style="margin-bottom:12pt;margin-top:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:145%">24. Related Party Transactions</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(1) Related parties of the Group include entities and individuals capable of exercising control or significant influence over the Group. Related parties include GungHo Online Entertainment, Inc. (the controlling shareholder with 59.31% common shares), its subsidiaries, members of board of directors, executives with strategic responsibilities and their immediate families.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(2) Account balances with related party</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Balances of receivables and payables with related party as of December 31, 2022 and 2021 are as follows&#58; </font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.998%"><tr><td style="width:1.0%"></td><td style="width:10.156%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.452%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.227%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.452%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.978%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.581%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.452%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.778%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.461%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.452%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.908%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.452%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.105%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.446%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:186%">(In thousands of won</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:186%">)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="12" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Related party</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Name of entity</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Receivables</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Payables</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Receivables</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Payables</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Parent Company</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">GungHo Online Entertainment, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">2,873,954</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">2,804</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">5,253,873</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">7,448</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Other</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Gungho Online Entertainment America</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.25pt;padding-right:2.25pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">29,692</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td></tr><tr><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Total</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.25pt;padding-right:2.25pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">2,873,954</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">32,496</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">5,253,873</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">7,448</font></div></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(3) Transactions with related parties</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The details of transactions with related party for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:14.2pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:94.799%"><tr><td style="width:1.0%"></td><td style="width:15.254%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.481%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:34.164%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.481%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.481%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.477%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.550%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.481%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.336%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.481%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.528%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.486%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:133%">)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="15" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="18" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Revenues</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Related party</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Name of entity</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Royalty</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Commission</font></div></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Other</font></div></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Parent company</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">GungHo Online Entertainment, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">24,812,723 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">928,202</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">GungHo Online Entertainment America</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td></tr><tr><td colspan="15" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">24,812,723</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">928,202</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td></tr></table></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="padding-left:14.2pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:94.153%"><tr><td style="width:1.0%"></td><td style="width:15.366%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.486%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:34.406%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.486%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.486%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.502%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.651%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.486%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.421%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.486%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.624%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:133%">)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="15" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="15" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Purchases</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Related party</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Name of entity</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Royalty</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Commission</font></div></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Other</font></div></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Parent company</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">GungHo Online Entertainment, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">12,671</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">7,648</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">GungHo Online Entertainment America</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">42,479</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td></tr><tr><td colspan="15" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">42,479</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">12,671</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">7,648</font></div></td></tr></table></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">52</font></div></div></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD. and Subsidiaries</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Consolidated Financial Statements</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div style="margin-bottom:12pt;margin-top:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:145%">24. Related Party Transactions, Continued</font></div><div style="padding-left:14.2pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.899%"><tr><td style="width:1.0%"></td><td style="width:14.900%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.233%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.233%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.466%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.233%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.066%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.233%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.472%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:133%">)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="15" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:center;text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="18" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Revenues</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Related party</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Name of entity</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Royalty</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Commission</font></div></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Other</font></div></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Parent company</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">GungHo Online Entertainment, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">36,646,582</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Other</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">GungHo Online Entertainment America</font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td></tr><tr><td colspan="9" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="9" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">36,646,582</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td></tr><tr style="height:17pt"><td colspan="9" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="9" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:2pt double #000000;padding:0 1pt"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:133%">)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="15" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:center;text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="18" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Purchases</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Related party</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Name of entity</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Royalty</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Commission</font></div></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Other</font></div></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Parent company</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">GungHo Online Entertainment, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">55,382</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Other</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">GungHo Online Entertainment America</font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td></tr><tr><td colspan="18" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">55,382</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td></tr></table></div><div style="margin-top:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(4) Other transactions with related parties</font></div><div style="margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">No financing transactions were made with related parties for the years ended December 31, 2022 and 2021. </font></div><div style="margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(5) Key management personnel compensation</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">The compensation given to key management personnel (registered directors) for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:57.816%"><tr><td style="width:1.0%"></td><td style="width:30.743%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.755%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.721%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.156%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.313%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:26.832%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.480%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Salaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,503,280</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,472,348</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:10pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">53</font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>gravity_2022yeauditreports.htm
<DESCRIPTION>EX-99.2
<TEXT>
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<title>Document</title></head><body><div id="i4315cb5548174b568fbc81a748d084f3_38"></div><div style="min-height:108pt;width:100%"><div><font><br></font></div></div><div><font><br></font></div><div><font><br></font></div><div style="padding-left:57.6pt;text-indent:-57.6pt"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:24pt;font-weight:700;line-height:100%">GRAVITY CO., LTD.</font></div><div style="padding-right:-21.4pt"><font><br></font></div><div style="padding-right:-21.4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:14pt;font-weight:400;line-height:133%">Separate Financial Statements</font></div><div style="padding-right:-21.4pt"><font><br></font></div><div style="padding-right:-21.4pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:133%">For the Years Ended </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:133%">December 31, 2022 and 2021</font></div><div style="padding-right:-21.4pt"><font><br></font></div><div style="padding-left:28.8pt;text-indent:-28.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">(With Independent Auditors&#8217; Report Thereon)</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="height:42.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i4315cb5548174b568fbc81a748d084f3_41"></div><hr style="page-break-after:always"><div style="min-height:70.56pt;width:100%"><div><font><br></font></div></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font style="color:#000080;font-family:'Calibri',sans-serif;font-size:14pt;font-weight:400;line-height:115%">Contents</font></div><div style="margin-bottom:12pt;text-align:right"><font><br></font></div><div style="margin-bottom:12pt;text-align:right"><font><br></font></div><div style="margin-bottom:12pt;text-align:right"><font style="color:#000080;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Page</font></div><div style="margin-bottom:12pt"><font style="color:#000080;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Independent Auditors&#8217; Report</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;1</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Separate Statements of Financial Position&#160;&#160;&#160;&#160;3</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Separate Statements of Comprehensive Income&#160;&#160;&#160;&#160;5</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Separate Statements of Changes in Equity&#160;&#160;&#160;&#160;6</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Separate Statements of Cash Flows&#160;&#160;&#160;&#160;7</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Notes to the Separate Financial Statements&#160;&#160;&#160;&#160;8</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Independent Auditors&#8217; Review Report on Internal Accounting Control System&#160;&#160;&#160;&#160;53</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Report on the Effectiveness of the Internal Accounting Control System&#160;&#160;&#160;&#160;55</font></div><div style="margin-bottom:12pt"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:42.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:70.56pt;width:100%"><div><font><br></font></div></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:14pt;font-weight:400;line-height:115%">Independent Auditors&#8217; Report</font></div><div style="margin-bottom:6.5pt;margin-top:6.5pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">English Translation of a Report Originally Issued in Korean</font></div><div style="margin-bottom:6.5pt;margin-top:6.5pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">To the Board of Directors and Shareholders of Gravity Co., Ltd.&#58;</font></div><div><font><br></font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Opinion</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">We have audited the accompanying separate financial statements of Gravity Co., Ltd (&#8220;the Company&#8221;), which comprise the separate statement of financial position as of December 31, 2022, and the separate statement of comprehensive income, separate statement of changes in equity and separate statement of cash flows for the year then ended, and notes to the separate financial statements, including a summary of significant accounting policies.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the separate financial position of the Company as of December 31, 2022, and its separate financial performance and its separate cash flows for the year then ended in accordance with International Financial Reporting Standards as adopted by the Republic of Korea (Korean IFRS).</font></div><div style="margin-top:18pt;text-align:justify"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Basis for Opinion</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">We conducted our audits in accordance with Korean Standards on Auditing (KSAs). Our responsibilities under those standards are further described in the </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Auditors&#8217; Responsibilities for the Audit of the Separate Financial Statements</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> section of our report. We are independent of the Company in accordance with the ethical requirements of the Republic of Korea that are relevant to our audit of the separate financial statements and we have fulfilled our other ethical responsibilities in accordance with the ethical requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.</font></div><div style="margin-top:18pt;text-align:justify"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other Matter</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">The separate financial statements of the Company for the year ended December 31, 2021 were audited by KPMG Samjong Accounting Corp. who expressed an unqualified opinion on March 23, 2022. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Auditing standards and their application in practice vary among countries. The procedures and practices used in the Republic of Korea to audit such financial statements may differ from those generally accepted and applied in other countries. </font></div><div style="margin-top:18pt;text-align:justify"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Responsibilities of Management and Those Charged with Governance for the Separate Financial Statements</font></div><div style="margin-bottom:6.5pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Management is responsible for the preparation and fair presentation of the separate financial statements in accordance with Korean IFRS, and for such internal control as management determines is necessary to enable the preparation of separate financial statements that are free from material misstatement, whether due to fraud or error.</font><font style="color:#3366ff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%"> </font></div><div style="margin-bottom:6.5pt;margin-top:6.5pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">In preparing the separate financial statements, management is responsible for assessing the Company&#8217;s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations.</font></div><div style="margin-top:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Those charged with governance are responsible for overseeing the Company&#8217;s financial reporting process.</font></div><div style="margin-top:18pt;text-align:justify"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Auditors&#8217; Responsibilities for the Audit of the Separate Financial Statements</font></div><div style="margin-bottom:6.5pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Our objectives are to obtain reasonable assurance about whether the separate financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors&#8217; report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with KSAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these separate financial statements.</font></div><div style="height:42.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1</font></div></div></div><div id="i4315cb5548174b568fbc81a748d084f3_44"></div><hr style="page-break-after:always"><div style="min-height:70.56pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:6.5pt;margin-top:6.5pt;padding-right:1.45pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As part of an audit in accordance with KSAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also&#58;</font></div><div style="padding-left:9.6pt;text-align:justify;text-indent:-7.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:3.6pt">Identify and assess the risks of material misstatement of the separate financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.</font></div><div style="padding-left:9.6pt;text-align:justify;text-indent:-7.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:3.6pt">Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company&#8217;s internal control.</font></div><div style="padding-left:9.6pt;text-align:justify;text-indent:-7.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:3.6pt">Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.</font></div><div style="padding-left:9.6pt;text-align:justify;text-indent:-7.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:3.6pt">Conclude on the appropriateness of management&#8217;s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company&#8217;s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors&#8217; report to the related disclosures in the separate financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors&#8217; report. However, future events or conditions may cause the Company to cease to continue as a going concern.</font></div><div style="padding-left:9.6pt;text-align:justify;text-indent:-7.1pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:3.6pt">Evaluate the overall presentation, structure and content of the separate financial statements, including the disclosures, and whether the separate financial statements represent the underlying transactions and events in a manner that achieves fair presentation.</font></div><div style="margin-top:6.5pt;padding-right:1.45pt;text-align:justify"><font><br></font></div><div style="padding-right:1.4pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.</font></div><div style="padding-right:1.4pt;text-align:justify"><font><br></font></div><div style="padding-right:1.4pt;text-align:justify"><font><br></font></div><div style="padding-right:1.4pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6.5pt;padding-right:1.4pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Samil PricewaterhouseCoopers</font></div><div style="margin-top:6.5pt;padding-right:1.4pt;text-align:justify"><font><br></font></div><div style="padding-right:1.4pt;text-align:justify"><font><br></font></div><div style="padding-right:1.4pt;text-align:justify"><font><br></font></div><div style="padding-right:1.4pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Seoul, Korea</font></div><div style="padding-right:1.4pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">March 23, 2023</font></div><div style="margin-bottom:6.5pt;padding-right:1.4pt;text-align:justify"><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-bottom:12pt;padding-left:2.75pt;padding-right:2.75pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">This report is effective as of March 23, 2023, the audit report date. Certain subsequent events or circumstances, which may occur between the audit report date and the time of reading this report, could have a material impact on the accompanying separate financial statements and notes thereto. Accordingly, the readers of the audit report should understand that the above audit report has not been updated to reflect the impact of such subsequent events or circumstances, if any.</font></div></td></tr></table></div><div style="height:42.48pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2</font></div></div></div><div id="i4315cb5548174b568fbc81a748d084f3_47"></div><hr style="page-break-after:always"><div style="min-height:107.28pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Separate Statements of Financial Position</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021&#160;&#160;&#160;&#160;</font></div></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:0.1%"></td><td style="width:2.507%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.320%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.715%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.091%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.188%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.199%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.078%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.436%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:1.925%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.600%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.441%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:156%">(In thousands of won)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Notes</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2021</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.4pt;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Assets</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Current assets</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,6,22</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">42,985,625</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26,602,122</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Short-term financial instruments</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,22</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">167,000,000</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">148,000,000</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounts receivable, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,7,14,22</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">35,117,290</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">40,569,841</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other receivables, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,7,22</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">961,918</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,677,451</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Prepaid expenses</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,556,323</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,823,623</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other current financial assets</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,22</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,249,537</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">790,051</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other current assets</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,573</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">42,487</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">250,876,266</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">219,505,575</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Non-current assets</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Investments in subsidiaries</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26,732,334</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21,679,845</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Property and equipment, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,21</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,520,385</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,608,320</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Intangible assets, net</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,867,939</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:20pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,228,635</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other non-current financial assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,22</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,048,028</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,895,565</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other non-current assets</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,574,623</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,701,669</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred tax assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,689,765</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,045,964</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">41,433,074</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">39,159,988</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.3pt;text-align:justify;text-indent:-0.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">292,309,340</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">258,665,573</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="9" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div style="padding-right:4.9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">See accompanying notes to the separate financial statements.</font></div><div><font><br></font></div><div><font><br></font></div><div style="height:48.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3</font></div></div></div><hr style="page-break-after:always"><div style="min-height:107.28pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Separate Statements of Financial Position, Continued</font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021</font></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:0.1%"></td><td style="width:2.498%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.434%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.709%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.058%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.180%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.185%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.011%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.434%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:1.915%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.534%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.442%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.25pt;text-align:justify;text-indent:-0.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Notes</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2021</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="9" style="padding:0 1pt"><div style="padding-left:0.3pt;text-align:justify;text-indent:-0.3pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.3pt;text-align:justify;text-indent:-0.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Liabilities</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Current liabilities</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accounts payable</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:-2.55pt;text-align:center;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,22</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17,641,888</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29,467,721</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred revenue </font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:-2.55pt;text-align:center;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,258,298</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,139,025</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Withholdings</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,540,197</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,754,347</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Accrued expenses</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">881,213</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">785,358</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Income tax payable</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:-2.55pt;text-align:center;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,406,367</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,403,175</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other current liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:-2.55pt;text-align:center;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,21,22</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,607,153</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,254,206</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">28,335,116</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">48,803,832</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;text-align:justify;text-indent:5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Non-current liabilities</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Long-term accounts payable</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:-2.75pt;text-align:center;text-indent:-5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,22</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">373,989</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">729,173</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Long-term deferred revenue</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30,239</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:40pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">199,062</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other non-current liabilities</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,21,22</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,978,179</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,256,413</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:0 1pt"><div style="margin-bottom:5pt;margin-top:5pt;padding-left:0.3pt;text-align:justify;text-indent:-0.3pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,382,407</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,184,648</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;padding-left:0.3pt;text-align:justify;text-indent:-0.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total liabilities</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">31,717,523</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">52,988,480</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="9" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.2pt;padding-right:0.2pt;text-align:center;text-indent:-4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.4pt;text-align:justify;text-indent:-0.4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Equity</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-0.4pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.4pt;text-align:justify;text-indent:-0.4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Share capital</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,13</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,474,450</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,474,450</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-0.4pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.4pt;text-align:justify;text-indent:-0.4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Capital surplus</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,482,683</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,482,683</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-0.4pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.4pt;text-align:justify;text-indent:-0.4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Retained earnings</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">229,634,684</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">174,719,960</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.4pt;text-align:justify;text-indent:-0.4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total equity</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">260,591,817</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">205,677,093</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:0.4pt;text-align:justify;text-indent:-0.4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total liabilities and equity</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">292,309,340</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">258,665,573</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="9" style="padding:0 1pt"><div style="padding-left:0.4pt;text-align:justify;text-indent:-0.4pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="padding-right:4.9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">See accompanying notes to the separate financial statements.</font></div><div style="height:48.96pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">4</font></div></div></div><div id="i4315cb5548174b568fbc81a748d084f3_50"></div><hr style="page-break-after:always"><div style="min-height:108pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:14pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Separate Statements of Comprehensive Income</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">For the years ended December 31, 2022 and 2021</font></div><div><font><br></font></div></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:55.322%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.016%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.411%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.875%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.425%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.329%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.705%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.817%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Notes</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</font></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Revenue</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14,23</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Online games</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">32,969,528</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30,176,025</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Mobile games</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">198,512,493</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">256,918,510</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Other revenue</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,235,384</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,163,841</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">232,717,405</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">288,258,376</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cost of revenue</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">112,512,407</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">141,815,263</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Gross profit</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">120,204,998</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">146,443,113</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Selling, general and administrative expenses</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15,16</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">58,060,198</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">68,268,646</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Operating profit</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">62,144,800</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">78,174,467</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Non-operating income and expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance income</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,17</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13,734,710</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4,921,817</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Finance costs</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,17</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9,975,732)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,989,233)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other non-operating income</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9,578,611</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,997,743</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other non-operating expenses</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(278,780)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(558,730)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Profit before income tax</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">75,203,609</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">92,546,064</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Income tax expense</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20,288,885</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,813,231</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Profit for the year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">54,914,724</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">64,732,833</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other comprehensive income</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Items that may be subsequently reclassified to profit or loss</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign currency translation adjustments</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total comprehensive income for the year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">54,914,724</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">64,732,833</font></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div style="padding-right:4.9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">See accompanying notes to the separate financial statements.</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5</font></div></div></div><div id="i4315cb5548174b568fbc81a748d084f3_53"></div><hr style="page-break-after:always"><div style="min-height:107.28pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Separate Statements of Changes in Equity </font></div><div><font><br></font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">For the years ended December 31, 2022 and 2021 </font></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:28.742%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.287%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.313%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.475%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.951%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.057%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.951%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.721%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.951%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.046%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.951%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.855%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Notes</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Share</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">capital</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Capital</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">surplus</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Other components of equity</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Retained earnings</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Total</font></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at January 1, 2021</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,474,450</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,482,683</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">929</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">109,987,127</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">140,945,189</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:15pt;text-indent:-5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Profit for the year</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">64,732,833</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">64,732,833</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:15pt;text-indent:-5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Foreign currency translation adjustments</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(929)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(929)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at December 31, 2021</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,474,450</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,482,683</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">174,719,960</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">205,677,093</font></td></tr><tr style="height:13pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at January 1, 2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,474,450</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,482,683</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">174,719,960</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">205,677,093</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:16pt;text-indent:-7pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Profit for the year</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">54,914,724</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">54,914,724</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Balance at December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,474,450</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,482,683</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">229,634,684</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">260,591,817</font></td></tr><tr style="height:13pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div style="padding-right:4.9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">See accompanying notes to the separate financial statements.</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6</font></div></div></div><div id="i4315cb5548174b568fbc81a748d084f3_56"></div><hr style="page-break-after:always"><div style="min-height:110.88pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Separate Statements of Cash Flow </font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">For the years ended December 31, 2022 and 2021 </font></div></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:61.263%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.120%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.422%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.132%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.422%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.132%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.657%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Notes</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</font></td></tr><tr style="height:13pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cash flows from operating activities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Profit for the year</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">54,914,724</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">64,732,833</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Adjustments</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">12,550,795</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:10pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:10pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">18,716,916</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Changes in operating assets and liabilities</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(7,886,555)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,637,125)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Interest received</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,964,848</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">966,070</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Dividend received</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,839,924</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11,326,984</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Interest paid</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">(61,533)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(68,886)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Income tax paid</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">(25,807,417)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(22,716,206)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net cash provided by operating activities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">45,514,786</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">70,320,586</font></td></tr><tr style="height:13pt"><td colspan="3" style="padding:0 1pt"><div style="padding-left:24.8pt;text-indent:-6.8pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cash flows from investing activities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Decrease in other current financial assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">901</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Decrease in other non-current financial assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">500,000</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">&#160;&#160;&#160;&#160;Decrease in other non-current financial liabilities</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">89,860</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Disposal of property and equipment</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,368</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">235</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Purchase of subsidiaries</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">(5,052,489)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6,721,204)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Increase in short-term financial instruments</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">(19,000,000)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(77,000,000)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Increase in other current financial assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(200)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Increase in other non-current financial assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(500,000)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">(1,660,952)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:9.75pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Acquisition of property and equipment</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">(291,433)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">(1,210,372)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">&#160;&#160;&#160;&#160;Acquisition of intangible assets</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,601,496)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,151,543)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net cash used in investing activities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(26,443,349)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">(88,153,976)</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cash flows from financing activities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:110%">&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">Repayment of lease liabilities</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">21</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:110%">(2,049,532)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,787,171)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Net cash used in financing activities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2,049,532)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1,787,171)</font></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:110%">Effects of exchange rate changes on cash and cash equivalents</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(638,402)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">266,438</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:110%">Net increase (decrease) in cash and cash equivalents</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16,383,503</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(19,354,123)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:110%">Cash and cash equivalents at beginning of the year</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26,602,122</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">45,956,245</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:10pt;text-indent:-10pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:110%">Cash and cash equivalents at end of the year</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">42,985,625</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26,602,122</font></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div style="padding-right:4.9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">See accompanying notes to the separate financial statements.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7</font></div></div></div><div id="i4315cb5548174b568fbc81a748d084f3_59"></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%"> </font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt;text-indent:5pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:145%">1. General Information</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:145%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">GRAVITY CO., LTD. (the &#8220;Company&#8221;) was incorporated on April 4, 2000, to engage in developing and publishing online and mobile games, and other related business. The Company&#8217;s headquarter is located at 15F, 396 World Cup buk-ro, Mapo-gu, Seoul, Korea. The Company&#8217;s principal game product, &#8220;Ragnarok&#8221;, a massive multi-player online role-playing game, was commercially launched in August 2002, and is currently operated internationally in 91 markets. The Company also operates many other games.</font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">On February 8, 2005, the Company listed its shares on the Nasdaq Stock Market in the United States and issued 1,400,000 shares of common stocks in the form of American Depositary shares (&#8220;ADSs&#8221;) under the symbol &#8220;GRVY&#8221;.</font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">As of December 31, 2022, the total paid-in capital amounts to </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">3,474,450 thousand. The Company&#8217;s major shareholders and their respective percentage of ownership as of December 31, 2021 are as follows&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:133%"> </font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:83.333%"><tr><td style="width:1.0%"></td><td style="width:39.016%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.907%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.287%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.000%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.290%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.8pt;padding-right:7.8pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:justify;text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Number of shares</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:15.6pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:15.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Ownership (%)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">GungHo Online Entertainment, Inc.</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:15.6pt;text-align:justify"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:15.6pt;padding-right:4.3pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">4,121,737</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:15.6pt;padding-right:7.4pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">59.31</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Others</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:15.6pt;text-align:justify"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:15.6pt;padding-right:4.3pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">2,827,163</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:15.6pt;padding-right:7.4pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">40.69</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:15.6pt;text-align:justify"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:15.6pt;padding-right:4.3pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">6,948,900</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:15.6pt;padding-right:7.4pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">100.00</font></div></td></tr></table></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-indent:5pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:145%">2. Basis of Presentation</font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">These separate financial statements have been prepared in accordance with Korean International Financial Reporting Standards (&#8220;K-IFRS&#8221;), as prescribed in the </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:133%">Act on External Audits of Stock Companies, Etc. in the Republic of Korea. </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The accompanying consolidated financial statements have been restructured and translated into English from the Korean language financial statements.</font></div><div style="padding-left:16pt;text-align:justify;text-indent:10pt"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Certain information attached to the Korean language financial statements, but not required for a fair presentation of the Group's financial position, financial performance or cash flows, is not presented in the accompanying consolidated financial statements.</font></div><div style="padding-left:16pt;text-align:justify;text-indent:10pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">These separate financial statements were authorized for issuance by the Board of Directors on March 8, 2023, and are expected to be submitted for approval at the shareholders&#8217; meeting to be held on March 31, 2023.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(1) Basis of measurement</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The separate financial statements have been prepared on the historical cost basis.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(2) Use of judgments and estimates</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The preparation of the separate financial statements in conformity with K-IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows&#58;</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt;text-indent:5pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:145%">2. Basis of Presentation, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(2) Use of judgments and estimates, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(a) Deferred revenue &#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company sells virtual currency and in-game items that can be used in mobile games to game users. For each game in each country, the Company estimates and applies the game user's life cycle in order to recognize revenue generated by micro-transactions. The game user's life cycle is estimated based on the average period from the game user's first payment date to the last access date for active paying game users. The Company considers a game user as an active user if the period between the time of the user&#8217;s most recent access of the game and the end of reporting period equals or is shorter than the estimated game users&#8217; life cycle. For remaining amounts of virtual currency and items that active users own at period-end, the related revenue is deferred considering the items&#8217; attributes. The Company estimates the user&#8217;s life cycle by analyzing game users&#8217; activity patterns such as payment and access and it periodically reviews if there is any change of these estimates.</font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:5pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">3. New Standards and Interpretations Adopted During the Year and Resulting Changes in Accounting Policies</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Company has applied the following standards and amendments for the first time for the annual reporting period commencing on January 1, 2022.</font></div><div style="margin-bottom:12pt;padding-left:32.2pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(1)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:6.88pt">Amendment to K-IFRS No. 1103 &#8216;Business Combinations&#8217; - Reference to the Conceptual Framework</font></div><div style="margin-bottom:12pt;padding-left:14.2pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The amendments update a reference of definition of assets and liabilities to be recognized in a business combination in revised Conceptual Framework for Financial Reporting. However, the amendments add an exception for the recognition of liabilities and contingent liabilities within the scope of Korea IFRS 1037 Provisions, Contingent Liabilities and Contingent Assets, and Korean IFRS 2121 Levies. The amendments also clarify that contingent assets should not be recognized at the acquisition date. The amendment does not have a significant impact on the financial statements.</font></div><div style="margin-bottom:12pt;padding-left:32.2pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(2)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:6.88pt">Amendments to K-IFRS No. 1037 &#8216;Provisions, Contingent Liabilities and Contingent Assets&#8217; - Onerous Contracts &#58; Cost of Fulfilling a Contract</font></div><div style="margin-bottom:12pt;padding-left:14.2pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The amendments clarify that the direct costs of fulfilling a contract include both the incremental costs of fulfilling the contract and an allocation of other costs directly related to fulfilling contracts when assessing whether the contract is onerous. The amendment does not have a significant impact on the financial statements.</font></div><div style="text-indent:5pt"><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="text-indent:5pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4. Significant Accounting Policies </font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The principal accounting policies applied in the preparation of these separate financial statements in accordance with the K-IFRS are set out below. These policies have been consistently applied to all years presented, except if mentioned otherwise in Note 3. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(1) Investment in subsidiaries, joint ventures, and associates </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">These separate financial statements are prepared and presented in accordance with K-IFRS No. 1027, Separate Financial Statements. The Company applies the cost method to investments in subsidiaries, associates, and joint ventures in accordance with K-IFRS No. 1027. Dividends from subsidiaries, associates, and joint ventures are recognized in profit or loss when the right to receive the dividends is established.</font></div><div style="padding-left:14.2pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(2) Cash and Cash equivalents</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Cash and cash equivalents include cash on hand, deposits held at call with financial institutions, and other short-term investments with original maturities of three months or less that are readily convertible to known amounts of cash.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(3) Financial Assets</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(a) Classification</font></div><div style="margin-top:12pt;padding-left:14.2pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">At initial recognition, the Company classifies its financial assets in the following measurement categories&#58; </font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">measured at fair value through profit or loss&#59;</font></div><div style="padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">measured at fair value through other comprehensive income (&#8220;FVOCI&#8221;)&#59; and</font></div><div style="padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">measured at amortized cost.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:14.2pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The classification depends on the Company&#8217;s business model for managing the financial assets and the contractual terms of the cash flows. </font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">For financial assets measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive income. For investments in debt instruments, this will depend on the business model in which the investment is held. The Company reclassifies debt investments when, and only when, its business model for managing those assets changes.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">For investments in equity instruments that are not held for trading, this will depend on whether the Company has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income. Changes in fair value of equity instruments not elected as equity investment at fair value through other comprehensive income will be recognized in profit or loss.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(b) Measurement</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">At initial recognition, the Company measures a financial asset at its fair value plus, in case of financial asset not at fair value through profit or loss, transaction costs that are directly attributable to its acquisition. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4. Significant Accounting Policies, Continued</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(3) Financial Assets, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(b) Measurement, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(i) Debt instruments</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Subsequent measurement of debt instruments depends on the Company&#8217;s business model for managing the asset and the cash flow characteristics of the asset. The Company classifies its debt instruments into one of the following three measurement categories&#58;</font></div><div style="margin-bottom:12pt;padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">Amortized cost&#58; Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortized cost. A gain or loss on a debt investment that is subsequently measured at amortized cost and is not part of a hedging relationship is recognized in profit or loss when the asset is derecognized or impaired. Interest income from these financial assets is included in &#8216;finance income&#8217; using the effective interest rate method.</font></div><div style="padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">Fair value through other comprehensive income&#58; Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets&#8217; cash flows represent solely payments of principal and interest, are measured at fair value through other comprehensive income. Movements in the carrying amount are taken through other comprehensive income, except for the recognition of impairment loss (reversal of impairment loss), interest income and foreign exchange gains and losses which are recognized in profit or loss. When the financial asset is derecognized, the cumulative gain or loss previously recognized in other comprehensive income is reclassified from equity to profit or loss. Interest income from these financial assets is included in &#8216;finance income&#8217; using the effective interest rate method. Foreign exchange gains and losses are presented in &#8216;finance income or costs&#8217; and impairment losses are presented in &#8216;other non-operating expenses&#8217;. </font></div><div><font><br></font></div><div style="padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">Fair value through profit or loss&#58; Assets that do not meet the criteria for amortized cost or fair value through other comprehensive income are measured at fair value through profit or loss. A gain or loss on a debt investment that is subsequently measured at fair value through profit or loss and is not part of a hedging relationship is recognized in profit or loss and presented net in the statement of profit or loss within &#8216;finance income or costs&#8217; in the year in which it arises.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:5pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">4. Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(3) Financial Assets, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(b) Measurement, Continued</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(ii) Equity instruments</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company subsequently measures all equity investments at fair value. Where the Company&#8217;s management has elected to present fair value gains and losses on equity investments, which are held for long-term investment or strategic purpose, in other comprehensive income, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Changes in the fair value of financial assets at fair value through profit or loss are recognized in &#8216;other non-operating income and expenses&#8217; in the statement of profit or loss as applicable. Impairment loss (reversal of impairment loss) on equity investments measured at fair value through other comprehensive income are not reported separately from other changes in fair value.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(c) Impairment</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company recognizes loss allowances for expected credit losses(&#8220;ECLs&#8221;) on&#58;</font></div><div style="padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">financial assets measured at amortized cost&#59;</font></div><div style="padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">debt investments measured at fair value through other comprehensive income&#59; and</font></div><div style="margin-bottom:12pt;padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">contract assets under K-IFRS No. 1115.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company measures loss allowances at an amount equal to lifetime ECLs, except for the following, which are measured at 12-month ECLs&#58;</font></div><div style="padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">debt securities that are determined to have low credit risk at the reporting date&#59; and</font></div><div style="padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">other debt securities and bank balances for which credit risk (i.e. the risk of default occurring over the expected life of the financial instrument) has not increased significantly since initial recognition.</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Loss allowances for accounts and other receivables (including lease receivables) and contract assets are always measured at an amount equal to lifetime ECLs.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, the Company considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analysis, based on the Company&#8217;s historical experience and informed credit assessment, that includes forward-looking information.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">12</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:5pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">4. Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(3) Financial Assets, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(c) Impairment, Continued</font></div><div style="margin-bottom:12pt;padding-left:14.2pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company considers a financial asset to be in default when&#58;</font></div><div style="padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">the debtor is unlikely to pay its obligations to the Company in full, without recourse by the Company to actions such as realizing security (if any is held)&#59; or</font></div><div style="padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">the financial asset is more than 90 days past due.</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Lifetime ECLs are the ECLs that result from all possible default events over the expected life of a financial instrument.</font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">12-month ECLs are the portion of ECLs that result from default events that are possible within the 12 months after the reporting date (or a shorter period if the expected life of the instrument is less than 12 months).</font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The maximum period considered when estimating ECLs is the maximum contractual period over which the Company is exposed to credit risk.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls (i.e. the difference between the cash flows due to the entity in accordance with the contract and the cash flows that the Company expects to receive). ECLs are discounted at the effective interest rate of the financial asset.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">At each reporting date, the Company assesses whether financial assets carried at amortized cost and debt securities at fair value through other comprehensive income are credit-impaired. A financial asset is &#8216;credit-impaired&#8217; when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets. For debt securities at fair value through other comprehensive income, the loss allowance is charged to profit or loss.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(d) Recognition and Derecognition</font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Regular way purchases and sales of financial assets are recognized or derecognized on trade-date, the date on which the Company commits to purchase or sell the asset. Financial assets are derecognized when the rights to receive cash flows from the financial assets have expired or have been transferred and the Company has transferred substantially all the risks and rewards of ownership.</font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">If a transfer does not result in derecognition because the Company has retained substantially all the risks and rewards of ownership of the transferred asset, the Company continues to recognize the transferred asset in its entirety and recognizes a financial liability for the consideration received.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">13</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:5pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">4. Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(3) Financial Assets, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(e) Offsetting of financial instruments</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Financial assets and liabilities are offset and the net amount reported in the statements of financial position where there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the assets and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the Company or the counterparty.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(4) Account receivables</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Account receivables are recognized initially at the amount of consideration that is unconditional, unless they contain significant financing components when they are recognized at fair value. Account receivables are subsequently measured at amortized cost using the effective interest method, less loss allowance.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(5) Property and Equipment</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Property and equipment are initially measured at cost. The cost of property and equipment includes expenditures arising directly from the construction or acquisition of the asset, any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management, and the initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Property and equipment, subsequently, are carried at cost less accumulated depreciation and accumulated impairment losses. Subsequent costs are recognized in the carrying amount of property and equipment at cost or, if appropriate, as a separate item if it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be reliably measured.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Depreciation of all property and equipment, except for land, is calculated using the straight-line method to allocate their cost or revalued amounts, net of their residual values, over their estimated useful lives as follows&#58;</font></div><div style="padding-left:49.65pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:58.301%"><tr><td style="width:1.0%"></td><td style="width:58.179%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.908%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:38.513%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Estimated Useful Lives</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Computer and other equipment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4 years</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Furniture and fixture</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4 years</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Vehicles</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4 years</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Leasehold improvements</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(*)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Right-of-use assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(*)</font></div></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*) The Company depreciates the leasehold improvements and right-of-use asset from the commencement date to the earlier of the end of the useful life of the right-of-use asset or the end of the lease term using the straight-line method.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Depreciation methods, useful lives, and residual values are reviewed at the end of each reporting date and adjusted, if appropriate. The change is accounted for as a change in an accounting estimate.</font></div><div style="padding-left:7.1pt"><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:5pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">4. Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(6) Intangible Assets</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Intangible assets, except for goodwill, are initially recognized at its historical cost, and carried at cost less accumulated amortization and accumulated impairment losses. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company amortizes intangible assets with a limited useful life using the straight-line method over the following periods&#58;</font></div><div style="padding-left:49.65pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:55.232%"><tr><td style="width:1.0%"></td><td style="width:55.917%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.969%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:40.714%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Estimated Useful Lives</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Software</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1&#126;3 years</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Industrial property rights</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10 years</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other intangible assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3 years</font></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Expenditure on research activities is recognized in profit or loss as incurred. Development expenditure is capitalized only if the expenditure can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable and the Company intends to and has sufficient resources to complete development and to use or sell the asset. Other development expenditure is recognized in profit or loss as incurred.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company entered into a game licensing agreement with a number of third parties to gain exclusive rights to the games developed by those companies. The license fee payments are recognized as other intangible assets and amortized over the term of the contract </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:133%">using the straight-line method</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">.</font></div><div style="padding-left:14.2pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(7) Impairment of Non-financial Assets</font></div><div style="padding-left:14.2pt"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">At each reporting date, the Company reviews the carrying amounts of its non-financial assets (other than contract assets, incremental costs of obtaining a contract, costs to fulfil a contract, employee benefit related assets and deferred tax assets) to determine whether there is any indication of impairment. If any such indication exists, then the asset&#8217;s recoverable amount is estimated. Goodwill and intangible assets that have indefinite useful lives or that are not yet available for use, irrespective of whether there is any indication of impairment, are tested for impairment annually by comparing their recoverable amounts to their carrying amounts.</font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The recoverable amount of an asset or cash generating unit (&#8220;CGU&#8221;) is the greater of its value in use and its fair value less costs to sell. Value in use is based on the estimated future cash flows, discounted to their present value using an adjusted discount rate that reflects current market assessments of the time value of money and the risks specific to the asset or CGU.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">An impairment loss is recognized in profit or loss if the carrying amount of an asset or CGU exceeds its recoverable amount.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:5pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">4. Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(8) Leases</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Company uses the definition of a lease in K-IFRS No. 1116.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(a) As a lessee</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">At commencement or on modification of a contract that contains a lease component, the Company allocates the consideration in the contract to each lease component on the basis of its relative stand-alone prices. However, the Company has elected not to separate non-lease components and account for the lease and non-lease components as a single lease component by class of underlying asset.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company determines the lease term as the non-cancellable period of a lease, together with both (a) periods covered by an option to extend the lease if the lessee is reasonably certain to exercise that option&#59; and (b) periods covered by an option to terminate the lease if the lessee is reasonably certain not to exercise that option. When the lessee and the lessor each has the right to terminate the lease without permission from the other party, the Company should consider a termination penalty in determining the period for which the contract is enforceable.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company recognizes a right-of-use asset and a lease liability at the lease commencement date. The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The right-of-use asset is subsequently depreciated using the straight-line method from the commencement date to the end of the lease term, unless the lease transfers ownership of the underlying asset to the Company by the end of the lease term or the cost of the right-of-use asset reflects that the Company will exercise a purchase option. In that case the right-of-use asset will be depreciated over the useful life of the underlying asset, which is determined on the same basis as those of property and equipment. In addition, the right-of-use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of the lease liability.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company&#8217;s incremental borrowing rate. Generally, the Company uses its incremental borrowing rate as the discount rates.</font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company determines its incremental borrowing rate by obtaining interest rates from various external financing sources and makes certain adjustments to reflect the terms of the lease and type of the asset leased.</font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">16</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">4. Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(8) Leases, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(a) As a lessee, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Lease payments included in the measurement of the lease liability comprise the following&#58;</font></div><div style="padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">fixed payments, including in-substance fixed payments&#59;</font></div><div style="padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date&#59;</font></div><div style="padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">amounts expected to be payable under a residual value guarantee&#59; </font></div><div style="margin-bottom:12pt;padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">the exercise price under a purchase option that the Company is reasonably certain to exercise, lease payments in an optional renewal period if the Company is reasonably certain to exercise an extension option, and penalties for early termination of a lease unless the Company is reasonably certain not to terminate early.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Company&#8217;s estimate of the amount expected to be payable under a residual value guarantee, if the Company changes its assessment of whether it will exercise a purchase, extension or termination option or if there is a revised in-substance fixed lease payment.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">When the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of the right-of-use asset has been reduced to zero.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company presents right-of-use assets that do not meet the definition of investment property in &#8216;Property and equipment&#8217; and lease liabilities in &#8216;Other current liabilities&#8217; and &#8216;Other non-current liabilities&#8217; in the statement of financial position.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company has elected not to recognize right-of-use assets and lease liabilities for leases of low-value assets and short-term leases. The Company recognizes the lease payments associated with these leases as an expense on a straight-line basis over the lease term.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(b) As a lessor</font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">At inception or on modification of a contract that contains a lease component, the Company allocates the consideration in the contract to each lease component on the basis of their relative stand-alone prices.</font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">When the Company acts as a lessor, it determines at lease inception whether each lease is a finance lease or an operating lease.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:5pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">4. Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(8) Leases, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(b) As a lessor, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">To classify each lease, the Company makes an overall assessment of whether the lease transfers substantially all of the risks and rewards incidental to ownership of the underlying asset. If this is the case, then the lease is a finance lease&#59; if not, then it is an operating lease. As part of this assessment, the Company considers certain indicators such as whether the lease is for the major part of the economic life of the asset.</font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">When the Company is an intermediate lessor, it accounts for its interests in the head lease and the sub-lease separately. It assesses the lease classification of a sub-lease with reference to the right-of-use asset arising from the head lease, not with reference to the underlying asset. If a head lease is a short-term lease to which the Company applies the exemption described above, then it classifies the sub-lease as an operating lease.</font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">If an arrangement contains lease and non-lease components, then the Company applies K-IFRS No.1115 to allocate the consideration in the contract.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company applies the derecognition and impairment requirements in K-IFRS No. 1109 to the net investment in the lease. The Company further regularly reviews estimated unguaranteed residual values used in calculating the gross investment in the lease.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company recognizes lease payments received under operating leases as income on a straight-line basis over the lease term as part of &#8216;non-operating income&#8217;.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">18</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%"> </font><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">4. Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(9) Financial Liabilities</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(a) Classification and measurement</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company&#8217;s financial liabilities at fair value through profit or loss are financial instruments held for trading. A financial liability is held for trading if it is incurred principally for the purpose of repurchasing in the near term. A derivative that is not designated as a hedging instrument and an embedded derivative that is separated are also classified as held for trading.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company classifies non-derivative financial liabilities, except for financial liabilities at fair value through profit or loss, financial guarantee contracts and financial liabilities that arise when a transfer of financial assets does not qualify for derecognition, as financial liabilities carried at amortized cost and present as &#8216;accounts payable&#8217;, &#8216;other current liabilities&#8217; and &#8216;other non-current liabilities&#8217; in the separate statement of financial position. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(b)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:133%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Derecognition</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Financial liabilities are removed from the statement of financial position when it is extinguished&#59; for example, when the obligation specified in the contract is discharged or cancelled or expired or when the terms of an existing financial liability are substantially modified. The difference between the carrying amount of a financial liability extinguished or transferred to another party and the consideration paid (including any non-cash assets transferred or liabilities assumed) is recognized in profit or loss</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(10) Provisions and Contingent Liabilities</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Provisions are recognized when the Company has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:5pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">4. Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(10) Provisions and Contingent Liabilities, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Provisions are measured at the present value of management's best estimate of the expenditure required to settle the present obligation at the end of the reporting period. The discount rate used to determine the present value reflects current market assessments of the time value of money and the risks specific to the liability.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">In addition, when there is a possible obligation that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity or a present obligation that arises from past events but is not recognized because it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation or the amount of the obligation cannot be measured with sufficient reliability, a disclosure regarding the contingent liabilities is made in the notes to the financial statements.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(11) Foreign Currency Translation</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(a) Functional and presentation currency</font></div><div style="margin-bottom:12pt;padding-left:15pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which it operates (the &#8220;functional currency&#8221;), which the financial statements in the Company and its branch (Taiwan) are presented in Korean won (KRW) and New Taiwan Dollar (NTD), respectively. The separate financial statements are presented in Korean won, which is the Company&#8217;s functional and presentation currency.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(b) Transactions and balances</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:133%">at the exchange rate at the reporting date</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%"> are generally recognized in profit or loss. They are recognized in other comprehensive income if they relate to qualifying cash flow hedges and qualifying effective portion of net investment hedges in a foreign operation. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Exchange differences arising on non-monetary financial assets and liabilities such as equity instruments at fair value through profit or loss and equity instruments at fair value through other comprehensive income are recognized in profit or loss and other comprehensive income, respectively, as part of the fair value gain or loss.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:5pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">4. Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(12) Statement of cash flows</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company has elected to present cash flows from operating activities using the indirect method. Cash flows denominated in a foreign currency are reported using average exchange rate.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(13) Revenues from contracts with customers</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company engages in game licensing, IP licensing, and game publishing businesses.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Revenue is measured at the fair value of the consideration received or receivable for sale of goods or rendering of services arising from the normal course of the business. Revenue is recognized as net amounts excluding value added taxes, returns, rebates and discounts.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(a) Revenue from micro-transaction and subscription</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company recognizes micro-transaction revenue of online and mobile games when the Company satisfies its performance obligations. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Whether the performance obligations are satisfied depends on the natures of virtual currency and in-game virtual items. Items are categorized into consumable, periodic, and permanent in-game virtual items.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Consumable in-game virtual items are items that are consumed by the specific action of a game user, and periodic in-game virtual items are items that can be used repeatedly during a specified effective period. Permanent in-game virtual items are items that can be used by game users repeatedly without an effective period.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The accounting policy on revenue recognition is described below in relation to micro-transaction revenue from the sales of virtual currency and items. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(i) Online Games</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The specific method of recognizing and deferring revenue for virtual currency and consumable, periodic, and permanent items purchased with virtual currency is as follows.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">At the end of the reporting period, the Company defers the total amount of remaining virtual currency.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">For consumable in-game virtual items, the related revenue is recognized when the in-game virtual item is consumed. The Company defers the revenue for remaining amounts of virtual items owned by active paying users within the estimated user life cycle at the end of the reporting period. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">For periodic in-game virtual items, the related revenue is recognized ratably over the effective period. The Company defers the revenue for remaining effective period. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">For permanent in-game virtual items, revenue is recognized ratably over the estimated user life cycle. The Company defers the revenue for remaining period of estimated user life cycle at the end of the reporting period.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">21</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">4.  Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(13) Revenues from contracts with customers, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(a) Revenue from micro-transaction and subscription, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(ii) Mobile Games</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The specific method of recognizing and deferring revenue for virtual currency and consumable, periodic, and permanent items purchased with virtual currency is as follows.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Mobile game users purchase virtual currency that can be used to purchase in-game items. The Company has no refund obligation after the game user purchases virtual currency. At the end of the reporting period, the Company defers the revenue for the remaining virtual currency possessed by active paying users. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">For consumable in-game virtual items, revenue is recognized when the in-game virtual item is consumed. The Company defers the revenue for remaining virtual items possessed by active users within the estimated user life cycle at the end of the reporting period. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">For periodic in-game virtual items with effective period, revenue is recognized ratably over the effective period. The Company defers the revenue for remaining effective period. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">For permanent in-game virtual items, revenue is recognized ratably over the estimated user life cycle. The Company defers the revenue for remaining period of estimated user life cycle at the end of the reporting period.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(b) Royalties and License Fees</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">In connection with the Company&#8217;s online and mobile games, the Company enters into license agreement in connection with the right to access the intellectual property, such as game character images and stories. The Company believes that the agreement is a promise to provide a right to the customer to access the related IP because the Company will undertake activities that significantly affect the intellectual property to which the customer has rights, the rights granted by the license directly expose the customer to any positive or negative effects of the Company&#8217;s activities, and those activities do not result in the transfer of a good or a service to the customer as those activities occur. Therefore, the Company&#8217;s performance obligations in connection with these agreements are satisfied over time. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Since the nature of the license promise is to provide customers with access to the intellectual property of the Company during the license period, the Company's performance obligation corresponds to the performance obligation satisfied over the time, and revenue is recognized over the license period. The Company recognizes revenue for the license fee through the straight-line method during the contract period, and for the running royalty revenue, the revenue is recognized on an accrual basis at the time the revenue distribution is established in accordance with the terms of the contract. When the running royalty revenue based on the contractual royalty rate and the actual revenue of the licensee exceeds the ratably recognized minimum guarantee, the excess amount is then recognized as revenue and accounts receivable. </font></div><div><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">22</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">4.  Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(13) Revenues from contracts with customers, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(c) Incremental costs of obtaining contract</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company pays platform processing fees to operate mobile games on third party platforms. These fees are charged based on the game users&#8217; purchases in cash and considered as incremental cost of obtaining contracts with customers and therefore capitalized. The Company presents these costs as prepaid expense and amortizes them to costs of revenue at the same time when the related revenue of the services provided to the game users are recognized.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(14) Current and Deferred Tax</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The tax expense for the period consists of current and deferred tax. Current and deferred tax is recognized in profit or loss, except to the extent that it relates to items recognized in other comprehensive income or directly in equity. The tax expense is measured at the amount expected to be paid to the taxation authorities, using the tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation, and considers whether it is probable that a taxation authority will accept an uncertain tax treatment. The Group measures its tax balances either based on the most likely amount or the expected value, depending on which method provides a better prediction of the resolution of the uncertainty. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the separate financial statements. However, deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss. </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Deferred tax assets are recognized only if it is probable that future taxable amounts will be available to utilize those temporary differences and tax credit </font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company recognizes a deferred tax liability for all taxable temporary differences associated with investments in subsidiaries, associates, and interests in joint arrangements, except to the extent that the Company is able to control the timing of the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. In addition, the Company recognizes a deferred tax asset for all deductible temporary differences arising from such investments to the extent that it is probable the temporary difference will reverse in the foreseeable future and taxable profit will be available against which the temporary difference can be utilized.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset tax assets and liabilities and when the deferred tax balances relate to the same taxation authority. Tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">4.  Significant Accounting Policies, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(15) Employee Benefits</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(a) Short-term employee benefits</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Short-term employee benefits are employee benefits that are due to be settled within 12 months after the end of the period in which the employees render related services. When an employee has rendered a service to the Company during an accounting period, the Company recognizes the undiscounted amount of short-term employee benefits expected to be paid in exchange for that service.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(b) Defined contribution pension plan</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The Company has a defined contribution pension plan with the related contribution to the pension plan recorded as severance benefit expenses for the employees with service period over a year. The Company recognizes provision for severance benefits for the employees with service period less than a year.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(16) Standards issued but not yet effective</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">A number of new standards are effective for annual periods beginning after January 1, 2022 and earlier application is permitted&#59; however, the Company has not early adopted the new or amended standards in preparing these separate financial statements.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">The following amended standards and interpretations are not expected to have a significant impact on the Company&#8217;s separate financial statements.</font></div><div style="padding-left:51.7pt;text-indent:-20pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:16.15pt">Classification of Liabilities as Current or Non-current (Amendment to K-IFRS No. 1001)</font></div><div style="padding-left:51.7pt;text-indent:-20pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:16.15pt">Disclosure of Accounting Policies (Amendment to K-IFRS No. 1001)</font></div><div style="padding-left:51.7pt;text-indent:-20pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:16.15pt">Definition of an Accounting Estimate (Amendment to K-IFRS No. 1008)</font></div><div style="padding-left:51.7pt;text-indent:-20pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:16.15pt">Deferred Income Taxes on Assets and Liabilities Arising from a Single Transaction (amendment to K-IFRS No. 1012)</font></div><div style="padding-left:51.7pt;text-indent:-20pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:168%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%;padding-left:16.15pt">K-IFRS No 1117 Insurance Contracts</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt;text-align:justify;text-indent:5pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">5. Cash and cash equivalents</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(1) Cash and cash equivalents as of December 31, 2022 and 2021 are as follows&#58; </font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:89.631%"><tr><td style="width:1.0%"></td><td style="width:32.413%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.881%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.044%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.909%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.881%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.881%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.909%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.882%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Demand deposits, etc.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">42,985,625</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26,602,122</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="margin-top:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(2) The Company does not have any restricted cash and cash equivalents as of December 31, 2022 and 2021.</font></div><div><font><br></font></div><div style="margin-bottom:12pt;text-align:justify;text-indent:5pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">6. Financial Instruments by Category</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(1) Carrying amounts of financial instruments by category as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:94.638%"><tr><td style="width:1.0%"></td><td style="width:35.930%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.506%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.702%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.132%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.506%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.677%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.335%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.012%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></td></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Financial assets at amortized cost</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">42,985,625</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:4.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26,602,122</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Short-term financial instruments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">167,000,000</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">143,000,000</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accounts receivable, net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">35,117,290</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">40,569,841</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other receivables, net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">830,176</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">619,903</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other current financial assets(*1)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,249,537</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">790,051</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other non-current financial assets(*2)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,548,028</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,895,565</font></td></tr><tr><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Financial assets at fair value through profit or loss</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Short-term financial instruments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:18pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:18pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:18pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,000,000</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Other non-current financial assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:18pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">500,000</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:18pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:18pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">251,230,656</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:4.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">219,477,482</font></td></tr></table></div><div style="padding-left:2.1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">&#160;&#160;&#160;&#160;(*1) Other current financial assets consist of accrued income, deposits and lease receivable.</font></div><div style="padding-left:2.1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">&#160;&#160;&#160;&#160;(*2) Other non-current financial assets consist of deposits and lease receivable.</font></div><div style="padding-left:2.1pt;text-align:justify"><font><br></font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.122%"><tr><td style="width:1.0%"></td><td style="width:36.421%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.818%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.370%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.215%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.479%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.479%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.218%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></td></tr><tr><td colspan="21" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Financial liabilities at amortized cost</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accounts payable(*)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">14,734,688</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26,738,648</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Long-term accounts payable</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">373,989</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">729,173</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other current liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,607,153</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,254,206</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other non-current liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,362,371</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,761,849</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18,078,201</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">32,483,876</font></td></tr></table></div><div><font><br></font></div><div style="padding-left:14.2pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*) Accounts payable that are not financial liabilities are excluded.</font></div><div><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">6.  Financial Instruments by Category, Continued</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(2) Net income(expenses) from financial instruments for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:88.016%"><tr><td style="width:1.0%"></td><td style="width:38.166%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.634%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.588%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.138%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.717%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.957%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Financial assets at amortized cost</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:4.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Interest income</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%;text-decoration:line-through">W</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,293,042</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,326,044</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Differences in foreign currency</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">625,044</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,533,854</font></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-indent:4.5pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">4,918,086</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,859,898</font></td></tr><tr><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:155%">Financial assets at fair value through profit or loss</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">Interest income</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,701</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">28,054</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">4,922,787</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">3,887,952</font></div></td></tr></table></div><div style="padding-left:2.1pt;text-align:justify"><font><br></font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:87.209%"><tr><td style="width:1.0%"></td><td style="width:40.196%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.651%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.455%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.270%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.725%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.903%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Financial liabilities at amortized cost</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:4.5pt;text-align:right"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">&#160;Interest expense</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%;text-decoration:line-through">W</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(66,635)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(72,790)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%">&#160;Differences in foreign currency</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,097,174)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(882,578)</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:155%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,163,809)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(955,368)</font></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(3) Fair value hierarchy</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:133%">Fair values are categorized into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows&#58;</font></div><div style="padding-left:49.65pt;text-align:justify;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">Level 1&#58; quoted prices (unadjusted) in active markets for identical assets or liabilities&#59;</font></div><div style="padding-left:49.65pt;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">Level 2&#58; all inputs other than quoted prices included in level 1 that are observable (either directly that is, prices, or indirectly that is, derived from prices) for the asset or liability&#59;</font></div><div style="margin-bottom:12pt;padding-left:49.65pt;text-indent:-21.3pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:133%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:17.45pt">Level 3&#58; unobservable inputs for the asset or liability.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">The fair value of financial instruments traded in an active market is determined based on the quoted market price as of the end of the reporting period. If the quoted prices are readily and regularly available through exchanges, sellers, brokers, industry groups, rating agencies or regulators and such prices represent actual market transactions that occur regularly between independent parties, they are considered active markets. These products are included in Level 1.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. These valuation techniques use as much market observable information as possible and use the least amount of company-specific information. At this time, if all the significant input variables required to measure the fair value of a good are observable, the good is included in Level 2.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">If more than one significant input variable is not based on observable market information, the item is included in Level 3.</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:168%">6.  Financial Instruments by Category, Continued</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:168%">(3) Fair value hierarchy, Continued</font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">The valuation techniques used to measure the fair value of a financial instrument include&#58;</font></div><div style="padding-left:21.3pt;text-align:justify;text-indent:-5.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">-  Market price or dealer price of a similar financial instrument </font></div><div style="margin-bottom:12pt;padding-left:28.3pt;text-align:justify;text-indent:-12.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">-  The fair value of derivative instruments is determined by discounting the amount to present value using the leading exchange rate as of the end of the reporting period </font></div><div style="margin-bottom:12pt;padding-left:14.2pt;text-align:justify;text-indent:1.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">For the other financial instruments, the company applied other valuation techniques such as discounted cash flow, etc.</font></div><div style="text-align:justify;text-indent:5pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">7. Accounts and Other Receivables</font></div><div style="text-align:justify;text-indent:5pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(1) Accounts and other receivables as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.795%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.720%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.427%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.010%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.720%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.010%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.333%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.470%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.720%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.470%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.725%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">December 31, 2022</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">December 31, 2021</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;text-align:justify"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Accounts</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">receivables</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Other receivables</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Accounts</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">receivables</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Other receivables</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Non-related party</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">17,573,672</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">132,554</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">29,466,816</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,059,450</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Related party</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">17,591,492</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">829,364</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,106,547</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">618,001</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Less&#58; Loss allowance</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(47,874)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,522)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">35,117,290</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">961,918</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">40,569,841</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,677,451</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(2) Changes in the loss allowance of accounts receivables during the years ended December 31, 2022 and 2021 are as follows&#58; </font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:70.736%"><tr><td style="width:1.0%"></td><td style="width:45.931%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.169%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.292%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.589%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.626%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.593%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Accounts receivable</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Beginning balance</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,522</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">53,704</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(Reversal of) Bad debt expenses</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">63,492</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(50,182)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Write-off</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(19,140)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Ending balance</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">47,874</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3.522</font></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(3) Expected credit losses (ECLs) and credit risk exposures for accounts and other receivables as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(a) Accounts receivables</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:38.256%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.871%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.339%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.728%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.673%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.718%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.679%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">&#160;Expected loss rate(%)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Carrying amount</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Loss allowance</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Not due or overdue for less than 90 days</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">35,063,072</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,104</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:11.1pt;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">More than 90 days &#126; Less than 180 days</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">44.2</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">99,081</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">43,789</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 180 days &#126; Less than 270 days</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">58.2</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">71</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">41</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 270 days &#126; Less than 1 year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">74.5</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 1 year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100.0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,940</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,940</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">35,165,164</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">47,874</font></td></tr></table></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">7. Accounts and Other Receivables, Continued</font></div><div><font><br></font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:38.256%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.871%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.880%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.728%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.673%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.718%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.138%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">&#160;Expected loss rate(%)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Carrying amount</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Loss allowance</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Not due or overdue for less than 90 days</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.0</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">40,569,575</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,721</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.1pt;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">More than 90 days &#126; Less than 180 days</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">4.3</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,226</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">95</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 180 days &#126; Less than 270 days</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">28.3</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">473</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">134</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 270 days&#126; Less than 1 year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">44.7</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">934</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">417</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 1 year</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">100.0</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">155</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">155</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">40,573,363</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,522</font></td></tr></table></div><div style="padding-left:2.9pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(b) Other receivables</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:35.825%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.136%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.909%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.433%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.592%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.909%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.163%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.384%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.433%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.763%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.408%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.433%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.433%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.443%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="36" style="border-bottom:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">December 31, 2022</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Expected loss rate(%)</font></div></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="12" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Carrying amount</font></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="9" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Loss allowance</font></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Not due or overdue for less than 90 days</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:6.6pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">0.0</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">949,852</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 90 days &#126; Less than 180 days</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:6.6pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">0.0</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,870</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">More than 180 days &#126; Less than 270 days</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:6.6pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">0.0</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,196</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;padding-right:6.6pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">961,918</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:35.825%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.136%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.909%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.433%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.592%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.909%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.163%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.384%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.433%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.763%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.408%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.433%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.433%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.443%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="36" style="border-bottom:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">December 31, 2021</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Expected loss rate(%)</font></div></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="12" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Carrying amount</font></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="9" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Loss allowance</font></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Not due or overdue for less than 90 days</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:6.6pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">0.0</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,677,451</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;padding-right:6.6pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,677,451</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(3) ECLs and credit risk exposures for accounts and other receivables as of December 31, 2022 and 2021 are as follows, Continued&#58;</font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">In assessing the recoverability of accounts and other receivables, the Company considers changes in the credit rating of accounts and other receivables from the commencement of the credit to the end of the reporting period.</font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;margin-top:2pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company applies the simplified approach for accounts and other receivables to measure the loss allowance at an amount equal to lifetime expected credit losses. To measure the expected credit losses, accounts and other receivables are grouped based on credit risk characteristics and the duration of past due balances. ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls. The Company considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes the Company&#8217;s historical experience and informed credit assessment, that includes forward-looking information. </font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">28</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="padding-left:0.8pt;text-indent:5pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">8. Investment in Subsidiaries</font></div><div style="padding-left:0.8pt;text-indent:5pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(1) Details of investment in subsidiaries as of December 31, 2022 and 2021 are as follows&#58;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:22.742%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.641%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.595%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.641%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.230%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.202%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.437%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.781%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.821%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.781%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.681%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.648%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Percentage of ownership (%)</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Subsidiary</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Location</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Main business</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Fiscal year end</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">December 31, 2022</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">December 31, 2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:10.1pt;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Gravity Interactive, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center;text-indent:2.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">USA</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10.1pt;text-indent:-8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.05pt;padding-right:5.05pt;text-align:center;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Online and mobile game services</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">December</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:10.1pt;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Gravity NeoCyon, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.05pt;padding-right:5.05pt;text-align:center;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Korea</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10.1pt;text-indent:-8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.05pt;padding-right:5.05pt;text-align:center;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Mobile Game Development and Service</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">December</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99.53</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">99.53</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gravity Communications Co., Ltd.</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.05pt;padding-right:5.05pt;text-align:center;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Taiwan</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10.1pt;text-indent:-8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.05pt;padding-right:5.05pt;text-align:center;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Online and mobile game services</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">December</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:10.1pt;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">PT. Gravity Game Link</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.05pt;padding-right:5.05pt;text-align:center;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Indonesia</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10.1pt;text-indent:-8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.05pt;padding-right:5.05pt;text-align:center;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Online and mobile game services</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">December</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70.00</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">70.00</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:10.1pt;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Gravity Game Tech Co., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.05pt;padding-right:5.05pt;text-align:center;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Thailand</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10.1pt;text-indent:-8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.05pt;padding-right:5.05pt;text-align:center;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Online and mobile game services</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">December</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:10.1pt;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Gravity Game Arise Co., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.05pt;padding-right:5.05pt;text-align:center;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Japan</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10.1pt;text-indent:-8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.05pt;padding-right:5.05pt;text-align:center;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Online and mobile game services</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">December</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:10.1pt;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Gravity Game Hub PTE., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.05pt;padding-right:5.05pt;text-align:center;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Singapore</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10.1pt;text-indent:-8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.05pt;padding-right:5.05pt;text-align:center;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Online and mobile game services</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">December</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:10.1pt;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Gravity Game Vision Limited.(*)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.05pt;padding-right:5.05pt;text-align:center;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Hongkong</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:10.1pt;text-indent:-8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:5.05pt;padding-right:5.05pt;text-align:center;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Online and mobile game services</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">December</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:31pt;text-align:justify;text-indent:-15pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%"> (*) </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Gravity Game Vision Limited</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">. was established during 2022 and has been included in subsidiary since then.</font></div><div style="padding-left:31pt;text-align:justify;text-indent:-15pt"><font><br></font></div><div style="padding-left:35.45pt;text-align:justify;text-indent:-17.85pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:6.73pt">Changes in investment in subsidiaries for the years ended December 31, 2022 and 2021 are as follows&#58; </font></div><div style="padding-left:32.2pt"><font><br></font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:91.085%"><tr><td style="width:1.0%"></td><td style="width:30.105%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.573%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.041%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.339%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.573%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.268%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.743%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.573%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.573%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.812%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="21" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2022</font></div></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Subsidiary</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Beginning balance</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Acquisition</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Ending balance</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 3.8pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Interactive, Inc. (*1)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity NeoCyon, Inc.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%"> </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,637,089</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,637,089</font></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Communications Co., Ltd. </font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,681,415</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,681,415</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.8pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">PT. Gravity Game Link</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,483,407</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,483,407</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.8pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Game Tech Co., Ltd.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,407,555</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,407,555</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.8pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Game Arise Co., Ltd. (*2)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,563,885</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">993,080</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,556,965</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.8pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Game Hub PTE., Ltd. (*2)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,906,494</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,426,127</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,332,621</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.8pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Game Vision Limited.(*3)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">633,282</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">633,282</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">21,679,845</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,052,489</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26,732,334</font></td></tr></table></div><div style="padding-left:36pt;text-align:justify;text-indent:-20pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*1) Prior to 2022, the Company recognized an impairment loss at its full amount as the recoverable amount was less than its book value.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*2) During the year ended December 31, 2022, the Company participated in paid-in capital increase of Gravity Game Arise Co., Ltd and Gravity Game Hub PTE. However there were no change in the shareholding ratio.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*3) </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Game Vision Limited</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">. was&#160;established during the year ended December 31, 2022 with 100% ownership interest held by the Company.</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="padding-left:0.8pt;text-indent:5pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">8. Investment in Subsidiaries, Continued</font></div><div><font><br></font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:91.085%"><tr><td style="width:1.0%"></td><td style="width:33.474%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.863%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.268%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.453%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.863%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.104%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.098%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.863%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.104%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.863%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.347%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="24" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2021</font></div></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Subsidiary</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Beginning balance</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Acquisition</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Ending balance</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Interactive, Inc. (*1)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity NeoCyon, Inc.</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(*2)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,646,512</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,990,577</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">5,637,089</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Communications Co., Ltd. </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,681,415</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,681,415</font></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">PT. Gravity Game Link (*2)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,683,674</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">799,733</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,483,407</font></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Game Tech Co., Ltd.</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,407,555</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,407,555</font></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Game Arise Co., Ltd. (*2)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">539,485</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,024,400</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,563,885</font></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Game Hub PTE., Ltd. (*3)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,906,494</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,906,494</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">14,958,641</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,721,204</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">21,679,845</font></td></tr></table></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*1) Prior to 2021, the Company recognized an impairment loss at its full amount as the recoverable amount was less than its book value.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*2) During the year ended December 31, 2021, the Company participated in paid-in capital increase of Gravity NeoCyon Co., Ltd., PT. Gravity Game Link, and Gravity Game Arise Co., Ltd. however there were no change in the shareholding ratio.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*3) Gravity Game Hub PTE., Ltd. was&#160;established during the year ended December 31, 2021 with 100% ownership interest held by the Company.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-20pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:35.4pt;text-indent:-35.4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">   (3) Condensed financial information of subsidiaries as of and for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:28.091%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.548%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.398%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.494%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.398%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.624%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.698%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.698%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.217%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.698%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.147%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.774%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.698%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.698%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.414%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.705%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="33" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2022</font></div></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Subsidiary</font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total assets(*)</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Total liabilities(*)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Revenue(*)</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Profit (loss) for</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">the year(*)</font></div></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Interactive, Inc.</font></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">32,142,913</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">23,616,795</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">62,745,252</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,448,061)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.1pt;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity NeoCyon, Inc.</font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">15,586,693</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,352,788</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">24,638,854</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,709,739</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Communications Co., Ltd.</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">39,437,891</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,161,240</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">50,610,968</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">14,185,767</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">PT. Gravity Game Link</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,268,158</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,090,349</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,372,227</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(373,901)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Game Tech Co., Ltd.</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">40,204,476</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,740,080</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">34,990,048</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,974,512</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Game Arise Co., Ltd.</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,066,904</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">988,401</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,451,554</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(504,862)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Game Hub PTE., Ltd.</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,846,247</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,726,020</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,351,866</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,081,397)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Game Vision Limited.</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">63,608,043</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">46,145,974</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">116,550,222</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">17,090,044</font></td></tr><tr><td colspan="48" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(*) Amount before eliminating the intercompany transactions</font></td></tr></table></div><div><font><br></font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:28.535%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.559%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.407%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.535%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.407%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.817%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.711%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.711%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.945%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.711%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.167%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.969%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.711%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.711%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.681%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.723%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="33" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2021</font></div></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Subsidiary</font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total assets(*)</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Total liabilities(*)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Revenue(*)</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Profit (loss) for</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">the year(*)</font></div></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Interactive, Inc.</font></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26,385,056</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">16,162,917</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">79,241,593</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">987,564</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.1pt;text-indent:-9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity NeoCyon, Inc.</font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">14,902,641</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,378,474</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25,443,458</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(110,799)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Communications Co., Ltd.</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">33,120,691</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,236,188</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">33,342,145</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,096,285</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">PT. Gravity Game Link</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,916,316</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">318,233</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,461,680</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(221,131)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Game Tech Co., Ltd.</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25,591,172</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,665,835</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">28,345,984</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,495,689</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Game Arise Co., Ltd.</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,912,442</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,167,254</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,258,230</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">158,563</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Game Hub PTE., Ltd.</font></td><td colspan="6" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">2,538,395</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">722,377</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">116,791</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,109,627)</font></td></tr><tr><td colspan="48" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(*) Amount before eliminating the intercompany transactions</font></td></tr></table></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">9. Property and Equipment</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(1) Details of property and equipment as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:25.470%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.605%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.444%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.044%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.605%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.460%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.605%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.629%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.410%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.444%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.444%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.605%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.689%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.766%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.816%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.766%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.917%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.381%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">December 31, 2022</font></div></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="9" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;padding-right:7.1pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">December 31, 2021</font></div></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;text-align:justify"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Acquisition</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">cost</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Accumulated depreciation</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="9" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Carrying </font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">amount</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisition cost</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Accumulated depreciation</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Carrying </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">amount</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:10.1pt;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Computer and other equipment</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">3,745,380</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;padding-right:0.2pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(3,310,543)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;padding-right:0.2pt"><font><br></font></div></td><td colspan="9" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">434,837</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">4,172,294</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:3.9pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(3,716,022)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:3.7pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">456,272</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Furniture and fixture</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">836,180</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;padding-right:0.2pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(600,353)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;padding-right:0.2pt"><font><br></font></div></td><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">235,827</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">724,455</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:3.9pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(469,552)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:3.7pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">254,903</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:10.1pt;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Vehicles</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">9,101</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;padding-right:0.2pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(5,498)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;padding-right:0.2pt"><font><br></font></div></td><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">3,603</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">9,101</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:3.9pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(3,223)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:3.7pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">5,878</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:10.1pt;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Leasehold improvements</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">1,506,967</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;padding-right:0.2pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(1,148,863)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;padding-right:0.2pt"><font><br></font></div></td><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">358,104</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">1,506,967</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:3.9pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(993,613)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:3.7pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">513,354</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:10.1pt;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Right-of-use assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">7,560,119</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;padding-right:0.2pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(5,072,105)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;padding-right:0.2pt"><font><br></font></div></td><td colspan="9" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">2,488,014</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">7,660,610</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:3.9pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(3,282,697)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:3.7pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">4,377,913</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">13,657,747</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;padding-right:0.2pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(10,137,362)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;padding-right:0.2pt"><font><br></font></div></td><td colspan="9" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">3,520,385</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:0.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">14,073,427</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:3.9pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(8,465,107)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:2.1pt;padding-right:3.7pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">5,608,320</font></div></td></tr></table></div><div style="padding-left:10pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(2) Changes in property and equipment for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:19.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.409%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.409%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.409%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.686%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.409%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.570%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.409%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.808%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.409%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.552%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.409%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.552%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.409%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.332%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.421%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">&#160;</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="33" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">2022</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">&#160;</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">&#160;</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Computer and other equipment </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Furniture</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">and fixture</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Vehicles</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Leasehold</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">improvements</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">&#160;</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Right-of-use assets</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Beginning balance</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">456,272</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">254,903</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,878</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">513,354</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,377,913</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,608,320</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquisitions</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">175,878</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">115,557</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76,042</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">367,477</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(197,313)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(134,633)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,275)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(155,250)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,892,899)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,382,370)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposition</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(73,042)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(73,042)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ending balance</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">434,837</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">235,827</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,603</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">358,104</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,488,014</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,520,385</font></td></tr></table></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:19.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.409%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.409%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.409%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.086%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.686%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.409%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.570%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.409%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.808%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.409%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.552%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.409%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.552%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.409%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.332%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.421%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">&#160;</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="33" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">2021</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">&#160;</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">&#160;</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Computer and other equipment </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Furniture</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">and fixture</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Vehicles</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Leasehold</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">improvements</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">&#160;</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Right-of-use assets</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Beginning balance</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">332,943</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">154,328</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8,153</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">46,149</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">2,635,285</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:14.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">3,176,858</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Acquisitions</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">362,508</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">226,865</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">621,000</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">3,354,809</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:14.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">4,565,182</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(239,179)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(126,290)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,275)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(110,074)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,612,181)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:14.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(2,089,999)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Disposition</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(43,721)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:14.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(43,721)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Ending balance</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">456,272</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">254,903</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,878</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">513,354</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,377,913</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,608,320</font></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%"> (3) Classification of depreciation expenses in the statements of comprehensive income for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:84.786%"><tr><td style="width:1.0%"></td><td style="width:48.614%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.752%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.852%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.614%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.752%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.616%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.4pt"><font><br></font></div><div style="padding-left:1.4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cost of revenues</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">671,873</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">925,788</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Selling, general and administrative expenses(*)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,710,497</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,164,211</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,382,370</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,089,999</font></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;padding-right:11.3pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">(*) The deprecation expenses recognized as the research and development included in selling, general and administrative expenses was </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">41,713 thousand and </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">143,599 thousand, respectively, for the years ended December 31, 2022 and 2021.</font></div><div style="margin-top:12pt;padding-left:28.2pt;text-indent:-12.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(4) As of December 31, 2022 and 2021, there are no property and equipment that are pledged as collateral for the Company&#8217;s debts.</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">31</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">10. Intangible Assets</font></div><div style="padding-left:10pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(1) Details of intangible assets as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.325%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.587%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.477%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.451%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.429%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.230%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.744%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.396%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.429%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.396%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.587%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.545%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.744%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.766%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.594%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">December 31, 2022</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;padding-right:7.1pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">December 31, 2021</font></div></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;text-align:justify"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisition cost</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Accumulated </font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">amortization</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(*)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Carrying</font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">amount</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Acquisition cost</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Accumulated amortization </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(*)</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Carrying</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">amount</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Software</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,647,727</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11,938,905)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,708,822</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,099,601</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:3pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(10,994,260)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;padding-right:24pt"><font><br></font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:4.8pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">1,105,341</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Patents</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,194,935</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(666,157)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">528,778</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">1,069,591</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:3pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(597,999)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:4.8pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">471,592</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6.6pt;text-indent:-8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Other intangible assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,769,884</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,139,545)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,630,339</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,742,439</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:3pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(4,090,737)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:4.8pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">1,651,702</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;padding-right:3pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20,612,546</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(16,744,607)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,867,939</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">18,911,631</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:3pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(15,682,996)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:4.8pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">3,228,635</font></div></td></tr></table></div><div style="padding-left:16pt"><font><br></font></div><div style="padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*) Accumulated amortization includes the amount of accumulated impairment loss.</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(2) Changes in intangible assets for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:25.671%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.902%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.569%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.230%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.902%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.230%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.902%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.065%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.902%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.592%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.435%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="24" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td></tr><tr style="height:39pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Software</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Patents</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Other intangible </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">assets</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Beginning balance</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,105,341</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">471,592</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,651,702</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,228,635</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Acquisitions</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,551,118</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">131,195</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">604,177</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,286,490</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(947,637)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(69,506)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(413,161)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,430,304)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Disposals</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,503)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(5,132)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(9,635)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Impairment loss(*)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(207,247)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(207,247)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Ending balance</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,708,822</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">528,778</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,630,339</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,867,939</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*) The Company recognized </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">207,247 thousand of impairment loss as carrying amount of other intangible assets exceeded recoverable amount as of December 31, 2022.</font></div><div><font><br></font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:25.671%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.902%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.569%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.230%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.902%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.230%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.902%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.065%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.902%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.592%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.435%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="24" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td></tr><tr style="height:26pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Software</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Patents</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Other intangible </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">assets</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Beginning balance</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,701,906</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">324,463</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">637,488</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,663,857</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Acquisitions</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">54,465</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">219,487</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,430,000</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,703,952</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(651,030)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(72,358)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(415,786)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(1,139,174)</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Ending balance</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,105,341</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">471,592</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,651,702</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,228,635</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:10pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(3) Classification of amortization in the statements of comprehensive income for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:92.538%"><tr><td style="width:1.0%"></td><td style="width:47.242%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.833%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.889%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.545%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.891%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cost of revenues</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;padding-right:1.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">410,543</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">360,661</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Selling, general and administrative expenses(*)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:1.2pt;text-align:right"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,019,761</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">778,513</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;padding-right:1.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,430,304</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,139,174</font></div></td></tr></table></div><div><font><br></font></div><div style="padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*) The amortization recognized as the research and development included in selling, general and administrative expenses was </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">28,759 thousand and </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">65,857 thousand, respectively, for the years ended December 31, 2022 and 2021.</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">32</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">11. Employee Benefit </font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The expenses recognized in relation to defined contribution plan for the years ended December 31, 2022 and 2021 are </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">1,397,941 thousand and </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">1,270,511 thousand, respectively.</font></div><div><font><br></font></div><div><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">12. Commitments</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(1) The Company has entered into exclusive license agreements with foreign licensees, such as GungHo Online Entertainment, Inc., Innova Intellectual Properties S.a.r.l, Shanghai BING KUAI Network Technology Co., Ltd., Relaternity(Hong Kong) Limited and others to provide exclusive license to distribute and sell online and mobile games and receives a certain portion of each licensee&#8217;s revenues (20-40%) as royalties.</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(2) In July 2021, the Company entered into development agreements with Shanghai TA REN Network Technology Co., Ltd. to grant them the right to develop mobile games based on the contents of Ragnarok IP(ROIP) and distribute such games in China for 3 years from the agreement date. Under the terms of the agreement, the Company is entitled to receive from the licensee a royalty equal to a percentage of the applicable revenue generated.</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(3) As of December 31, 2022, the Company has entered into a contract with Gravity NeoCyon, Inc. for the exclusive rights of developing, publishing and distributing mobile games, respectively. The Company also has entered into a contract with Gravity Game Vision Limited for the exclusive rights of publishing and distributing mobile games, and has entered into contracts with Gravity Interactive, Inc., Gravity Communications Co., Ltd., Gravity Game Tech Co., Ltd., PT. Gravity Game Link and Gravity Game Hub PTE., Ltd. for the exclusive rights of publishing and distributing online and for the exclusive rights of developing, publishing and distributing mobile games (Note 23).</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(4) As of December 31, 2022, the Company has entered into license agreements with various third-party game developers to secure exclusive rights to publish the games developed by the third-party developers. Upfront license fees paid are capitalized and recognized as other intangible assets and minimum guaranteed royalties are capitalized and recognized as other non-current assets. Purchase obligations for future payment related to above agreements as of December 31, 2022 and 2021 are </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">3,242,395 thousand and </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">2,335,425 thousand, respectively.</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(5) As of December 31, 2022, the Company benefited from payment guarantee of USD 658,500 from KB Kookmin Bank regarding overseas IP contracts.</font></div><div style="padding-left:10pt"><font><br></font></div><div style="padding-left:10pt"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">33</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div><font><br></font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">13. Share Capital and Capital Surplus</font></div><div style="padding-left:10pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(1) Details of common shares as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:84.625%"><tr><td style="width:1.0%"></td><td style="width:36.495%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.945%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.006%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.471%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.235%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.948%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:133%">(In won and in number of shares)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">December 31, 2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Number of authorized shares</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">40,000,000</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">40,000,000</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Value per share</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">500</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">500</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Number of shares issued</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,948,900</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6,948,900</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Common shares</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,474,450,000</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,474,450,000</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:10pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(2) Details of capital surplus as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:41.439%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.752%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.026%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.296%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:1.915%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.915%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.757%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">December 31, 2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Additional paid-in capital</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25,357,547</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25,357,547</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other capital surplus</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,125,136</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,125,136</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.9pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,482,683</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27,482,683</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(3) Details of retained earnings as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:41.757%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.593%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.344%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.979%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.180%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.550%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.597%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">December 31, 2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Unappropriated retained earnings</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">229,634,684</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">174,719,960</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(4) According to the Company's Articles of Incorporation, the Company may issue 2,000,000 shares of preferred stock without voting rights, and there are no preferred shares issued as of December 31, 2021.</font></div><div style="padding-left:31pt;text-indent:-15pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:31pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5) Statements of appropriation of retained earnings as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.697%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.749%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.172%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.045%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.749%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.836%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.752%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Date of appropriation for 2022&#58; March 31, 2023</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Date of appropriation for 2021&#58; March 31, 2022</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr style="height:16pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Retained earnings available for appropriation</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Unappropriated retained earnings carried over from prior year </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">174,719,960</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:18pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">109,987,127</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Profit for the year</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">54,914,724</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:13.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">64,732,833</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">229,634,684</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:9pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">174,719,960</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Appropriation of retained earnings</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:22.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Unappropriated retained earnings to be carried forward</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">229,634,684</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;padding-right:31.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#12288;</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">174,719,960</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">34</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">14. Revenue from Contracts with Customers</font></div><div style="padding-left:10pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(1) Details of revenue from contracts with customers based on the service contract type and the timing of satisfaction of performance obligations are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.697%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.749%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.172%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.045%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.749%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.836%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.752%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Service contract</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Micro transaction &#38; Subscription revenue</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">80,679,602</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">92,578,768</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#160;&#160;Online games</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,849,555</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,464,078</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#160;&#160;Mobile games</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">74,830,047</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">88,114,690</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Royalties &#38; License fees</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">150,802,419</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">194,515,767</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Online games</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">27,119,973</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25,711,947</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Mobile games</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">123,682,446</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">168,803,820</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Others</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,235,384</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,163,841</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">232,717,405</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">288,258,376</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Major geographic market</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Taiwan</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">60,547,345 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">57,133,716 </font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Korea</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">31,060,135 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">55,387,538 </font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Thailand</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">28,836,790</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">61,245,032</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Japan</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25,781,650</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">39,934,979</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">United States of America</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">24,254,826</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">12,053,184</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Philippines</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">14,439,380</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,835,992</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Indonesia</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,232,554</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,496,618</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Malaysia</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">19,910,558</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">11,063,200 </font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Others</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25,654,137</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">39,108,117 </font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">232,717,405</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">288,258,376</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Timing of satisfaction of performance obligations</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;At a point in time</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,765</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">6,003</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Over time</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">232,715,640</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:18pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">288,252,373</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">232,717,405</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;padding-right:31.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#12288;</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">288,258,376</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(2) Accounts receivables, incremental costs of obtaining a contract and contract liabilities related to contracts with customers as of December 31, 2022 and December 31, 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:52.697%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.749%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.172%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.045%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.749%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.836%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.752%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">December 31, 2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accounts receivable</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">35,117,290</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:112.5pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">40,569,841</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Incremental costs of obtaining a contract (Prepaid expenses)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">319,451</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:18pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">508,007</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Contact liabilities (Deferred revenue)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,010,583</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:13.5pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,054,633</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Micro transaction &#38; Subscription revenue</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,909,748</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:9pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,755,190</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Royalties and License fees</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100,835</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt;padding-right:9pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">299,443</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">35</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">14. Revenue from Contracts with Customers, Continued</font></div><div style="padding-left:16pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(3) The amount of revenue recognized from previous period&#8217;s contract liabilities satisfied during the year ended December 31, 2022 is </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">3,855,572 thousand (</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">3,755,191 thousand in micro transaction and subscription revenue and </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%"> 100,381 thousand in royalties and license fees).</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(4) Transaction price allocated to unsatisfied performance obligations as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:41.826%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.603%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.848%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.176%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.050%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.890%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.607%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">December 31, 2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Micro transaction &#38; Subscription revenue</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,909,748</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,755,190</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#160;&#160;&#160;Online games</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,728,347</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,835,824</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#160;&#160;&#160;Mobile games</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,181,401</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,919,366</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Royalties and License fees</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100,835</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">299,443</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#160;&#160;&#160;Online games</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">48,563</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">95,755</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#160;&#160;&#160;Mobile games</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">52,272</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">203,688</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,010,583</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,054,633</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:10pt"><font><br></font></div><div style="margin-top:2pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company&#8217;s management expects to recognize 99.2% (</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">3,980,344 thousands) of the transaction price allocated to contracts that have not been performed as of December 31, 2022 as revenue within 12 months. The remaining 0.8% (</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">30,239 thousands) is expected to be recognized as revenue thereafter. The amounts disclosed above do not include variable consideration which is constrained</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">.</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:28.2pt;text-align:justify;text-indent:-12.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(5) Details of incremental costs of obtaining a contract recognized as assets as of December 31, 2022 and 2021 are as follows&#58;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%"> </font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:41.757%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.593%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.344%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.979%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.180%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.550%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.597%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">December 31, 2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Incremental costs of obtaining a contract recognized as assets as at the reporting period-end</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">319,451</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">508,007</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Amortization costs recognized as cost of revenue</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">508,007</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">722,231</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">36</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">15. Classification of expenses by nature</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Details of classification of expenses by nature for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.737%"><tr><td style="width:1.0%"></td><td style="width:50.485%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.634%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.076%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.931%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.304%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.931%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.639%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fees and commissions</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">107,938,551</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">142,578,338</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Advertising expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">14,471,166</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">24,112,161</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Salaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">21,626,298</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">18,821,721</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Outsourcing expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">16,710,468</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">16,226,357</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Rent</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">889,866</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">811,038</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Employee benefits</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,892,672</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,448,393</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Expenses related to defined contribution plan</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,428,917</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,289,470</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Depreciation</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,382,370</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,089,999</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,430,304</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,139,174</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Bad debt expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">63,492</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Reversal of allowance for doubtful accounts</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(50,182)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,738,501</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,617,440</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">170,572,605</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">210,083,909</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:16pt"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Total expenses consist of cost of sales, selling, general and administrative expenses.</font></div><div><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">16. Selling, general and administrative expenses</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Details of selling, general and administrative expenses for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.222%"><tr><td style="width:1.0%"></td><td style="width:48.567%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.630%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.046%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.006%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.125%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.507%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.634%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Advertising expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">14,471,166</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">24,112,161</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fees and commissions</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,583,131</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,233,447</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Research and development</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">12,160,829</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18,101,978</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Salaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,458,469</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,185,539</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Employee benefits</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,289,362</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">967,471</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Rent</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">536,110</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">457,640</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Expenses related to defined contribution plan</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">697,190</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">657,869</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Depreciation</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,668,784</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,020,612</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Amortization</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">991,002</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">712,656</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Bad debt expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">63,492</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Reversal of allowance for doubtful accounts</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(50,182)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,140,663</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">2,869,455</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">58,060,198</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">68,268,646</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">37</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">17. Finance Income and Costs</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(1) Details of finance income for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.899%"><tr><td style="width:1.0%"></td><td style="width:48.566%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.633%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.733%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.900%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.066%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.636%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Finance income</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest income</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,297,743</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,354,098</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Unrealized foreign currency gain</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">144,857</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">98,602</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gain on foreign currency transactions</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,292,110</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,469,117</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13,734,710</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,921,817</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(2) Details of finance costs for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.029%"><tr><td style="width:1.0%"></td><td style="width:48.817%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.447%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.677%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.822%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.117%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.328%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.792%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2021</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Finance costs</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">66,635</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">72,790</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Unrealized foreign currency loss</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 3.7pt 2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,302,961</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">73,257</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Loss on foreign currency transactions</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,606,136</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,843,186</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,975,732</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,989,233</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">18. Other Non-Operating Income and Expenses</font></div><div style="padding-left:10pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(1) Details of other non-operating income for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.160%"><tr><td style="width:1.0%"></td><td style="width:55.577%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.940%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.088%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.023%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.940%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.489%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.943%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gain on disposal of property and equipment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,368</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">235</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:36pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Dividend income</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,839,924</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,326,984</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Others</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">737,319</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">670,524</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,578,611</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,997,743</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:8.5pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:28.2pt;text-align:justify;text-indent:-12.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(2) Details of other non-operating expenses for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.483%"><tr><td style="width:1.0%"></td><td style="width:58.153%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.936%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.120%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.783%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.936%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.133%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.939%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Loss on disposal of property and equipment</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">43,721</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Loss on disposal of intangible assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,503</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Impairment loss on intangible assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">207,247</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Impairment loss on other non-current assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">55,582</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">510,293</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Others</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,448</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,716</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">278,780</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">558,730</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">38</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">19. Income tax expense </font></div><div style="padding-left:10pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(1) Details of income tax expense for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div><font><br></font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:89.793%"><tr><td style="width:1.0%"></td><td style="width:49.979%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.699%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.756%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.043%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.317%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.504%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.702%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Current tax expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:9.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Current year</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">19,932,686</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25,493,700</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:14.1pt;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjustments recognized related to prior period income</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,646,777</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Deferred tax expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 10.6pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Changes in net deferred tax assets related to temporary differences</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">356,199</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">672,754</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Income tax expense </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">20,288,885</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">27,813,231</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(2) The differences between the tax expense on the Company&#8217;s profit before tax and the amount that would arise using the statutory tax rates applicable to profits of the entities are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:93.346%"><tr><td style="width:1.0%"></td><td style="width:60.491%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.917%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.778%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.913%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.841%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Profit before income tax expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">75,203,609</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">92,546,064</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Income tax using the statutory tax rate</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">17,737,273</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">21,934,147</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjustments&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Expenses not deductible for tax purposes</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,044</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">7,832</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Tax amounts paid in a foreign country</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,155,047</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,446,429</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Tax credit</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,006,562)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(765,118)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Additional tax for insufficient investments in designated areas</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,085,166</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">487,118</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:9.5pt;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Adjustments recognized related to prior period income</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,646,777</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Others</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">312,917</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">&#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">56,046</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,551,612</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">5,879,084</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Income tax expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">20,288,885</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">27,813,231</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Effective tax rate</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">27%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">30%</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:32.2pt"><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">39</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">19. Income tax expense, Continued</font></div><div><font><br></font></div><div style="padding-left:35.45pt;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(3)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;padding-left:6.88pt">Details of the changes in deferred tax assets(liabilities) for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:28pt"><font><br></font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.124%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:1.934%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.852%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.710%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.218%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.165%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.218%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.432%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.710%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.915%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.710%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.763%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td></tr><tr style="height:13pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:2.45pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font><br></font></div></td><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">2022</font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font><br></font></div></td><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">2021</font></div></td><td colspan="3" style="border-bottom:0.25pt solid #000000;padding:0 1pt"></td></tr><tr style="height:30pt"><td colspan="3" style="padding:0 1pt"><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Beginning </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">balance</font></div></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Increase</font></div><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">(Decrease)</font></div></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:0 1pt"><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Ending</font></div><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">balance</font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Beginning </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">balance</font></div></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:0 1pt"><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Increase</font></div><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">(Decrease)</font></div></td><td colspan="3" style="border-top:0.25pt solid #000000;padding:0 1pt"><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.25pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Ending</font></div><div style="padding-right:-0.7pt;text-align:center;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">balance</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Unearned revenue</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:8pt;text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(124,497)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(305,295)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(429,792)</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(43,184)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(81,313)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(124,497)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Property and equipment</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:8pt;text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">50,225 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(1,314)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">48,911 </font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">39,527</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">10,698</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">50,225</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Intangible assets</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">388,412 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">28,572 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">416,984 </font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">399,894</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(11,482)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">388,412</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Prepaid expenses</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">502,703 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(317,103)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">185,600 </font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">503,856</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(1,153)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">502,703</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Accounts Payable</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">623,975</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">105,208 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">729,183 </font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">613,984</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">9,991</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">623,975</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Accrued expenses</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">172,779 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">31,662 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">204,441 </font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">134,201</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">38,578</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">172,779</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Retirement benefit provision liabilities</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">33,336</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">9,005</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">42,341</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">28,684</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">4,652</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">33,336</font></div></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Allowance for doubtful accounts</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">264,484</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">14,426</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">278,910</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">264,484</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">264,484</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Asset retirement obligation</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">75,468</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">5,300</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">80,768</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">46,264</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">29,204</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">75,468</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Others</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(19,745)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">73,340&#160;</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">53,595</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">7,442</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(27,187)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(19,745)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Sub-total</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4pt;text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">1,967,140</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(356,199)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">1,610,941</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">1,995,152</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(28,012)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">1,967,140</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.6pt;text-align:justify;text-indent:-4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Deferred tax due to tax credit </font></div><div style="padding-left:3.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">carry-forward</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">2,078,824&#160;</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">2,078,824</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">2,723,566</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(644,742)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">2,078,824</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.6pt;text-align:justify;text-indent:-4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Deferred tax assets (*)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4pt;text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">4,045,964</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(356,199)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">3,689,765</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">4,718,718</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">(672,754)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:2.8pt"><font><br></font></div></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:2.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">4,045,964</font></div></td></tr></table></div><div style="padding-left:17pt;text-align:justify;text-indent:-14.2pt"><font><br></font></div><div style="padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*) The future realizability of deferred tax assets is assessed by taking into consideration various factors such as the Company's performance, the overall economic environment and industry outlook, expected future earnings, and deductible period of tax credit carry-forward and carry-forward deficit. The Company periodically monitors those factors in assessing the realizability of the deferred tax assets. As of December 31, 2022, the Company has recognized deferred tax assets related to temporary differences and tax credit carry-forward, which can be utilized based on the likelihood of future taxable income. This amount may change if the estimate for future taxable income changes.</font></div><div style="padding-left:31pt;text-align:justify;text-indent:-15pt"><font><br></font></div><div style="padding-left:28.2pt;text-align:justify;text-indent:-13.4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(4)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:133%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The deferred tax relating to items that are charged or credited directly to equity for the years ended  December 31, 2022 and 2021, is as follows&#58; </font></div><div style="padding-left:31pt;text-align:justify;text-indent:-15pt"><font><br></font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:92.861%"><tr><td style="width:1.0%"></td><td style="width:61.334%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.539%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.943%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.856%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.539%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.989%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2021</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Deferred tax assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;- Deferred tax assets to be recovered after more than 12 months</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,161,687</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,390,528</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">- Deferred tax assets to be recovered within 12 months</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,624,324</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,876,147</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Sub-total</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,786,011</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,266,675</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Deferred tax liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#160;&#160;&#160;&#160;&#160;- Deferred tax liabilities to be recovered after more than 12 months</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(323,004)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(631,982)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9.55pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">- Deferred tax liabilities to be recovered within 12 months</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(773,242)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(588,729)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Sub-total</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,096,246)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,220,711)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Deferred tax assets (liabilities), net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">3,689,765</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,045,964</font></td></tr></table></div><div style="padding-left:31pt;text-align:justify;text-indent:-15pt"><font><br></font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:28.3pt;text-align:justify;text-indent:-12.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(5) As of December 31, 2022, the Company did not recognize deferred income tax asset for the temporary difference of </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">33,632,252 thousand as it is not probable such temporary differences can be utilized in the foreseeable future.</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">40</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">20. Cash flow information</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:28.3pt;text-align:justify;text-indent:-12.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(1) Adjustments for calculating cash generated from operations for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:47.626%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.596%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.199%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.033%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.029%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.919%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.598%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2020</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjustments for&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Depreciation</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,382,370&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,089,999</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Amortization </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,430,304</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,139,174</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Bad debt expense</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">63,492&#160;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Interest expense</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">66,635</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">72,790</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Unrealized foreign currency loss</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,302,961</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">73,257</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Loss on disposal of on intangible assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,503</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Impairment loss on intangible asset</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">207,247</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Impairment loss on other non-current assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">55,582</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">510,293</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Retirement benefit expenses</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">30,976</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18,959</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Income tax expense</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">20,288,885</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">27,813,231</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Unrealized foreign currency gain</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(144,857)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(98,602)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gain on disposal of property and plant</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(1,368)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(235)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Loss on disposal of property and plant</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">43,721</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Interest income</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(4,297,743)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(1,354,098)</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Dividend income</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(8,839,924)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(11,326,984)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Reversal of allowance for doubtful accounts </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(50,182)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Others</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,732</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(214,407)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">12,550,795</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18,716,916</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">41</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">20. Cash flow information, Continued</font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(2) Changes in assets and liabilities arising from operating activities for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.483%"><tr><td style="width:1.0%"></td><td style="width:48.575%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.774%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.283%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.166%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.072%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.354%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.776%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accounts receivable</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through"> </font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,674,556</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,736,094</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other receivable</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">700,914</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:133%">&#160;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(1,195,818)</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Prepayment</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">557,898</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Long-term Prepayments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(160,936)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Other </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">non-current assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">217,785</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Prepaid expense</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">267,300</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(530,278)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Lease receivable</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">220,246</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">198,682</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cryptocurrencies</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(12,577)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Long-term prepaid expense</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(50,959)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(478,318)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accounts payable</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(9,907,961)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(5,281,785)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Long-term Accounts payable</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(667,078)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Deferred revenue</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">119,273</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(476,504)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Long-term Deferred revenue</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(168,823)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Withholdings</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,214,150)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">657,642</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accrued expenses</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">95,855</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">175,354</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Advanced receipt</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(92)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(7,886,555)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,637,125)</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-20pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(3) Significant non-cash transactions for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.644%"><tr><td style="width:1.0%"></td><td style="width:66.323%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.772%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.276%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.217%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.420%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.217%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.775%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Reclassification of Prepayment to intangible assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.1pt;padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">63,841</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">219,487</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Acquisition of right-of-use assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">55,416</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,354,809</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Increase(Decrease) in accounts payable relating to the acquisition of software</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">608,575</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">667,078</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="margin-top:2pt;padding-left:29.2pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4) Changes in liabilities arising from financing activities for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:31pt;text-align:justify;text-indent:-15pt"><font><br></font></div><div style="padding-left:21.3pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:53.883%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.764%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.903%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.137%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.407%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.137%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.769%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2022</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Beginning of the year</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,776,187</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,971,638</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Cash flows used in financial activities&#8211;payment of lease liabilities</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(2,049,532)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,787,171)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash flows used in operating activities &#8211; Interest paid</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(61,533)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(68,886)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Non-cash transactions&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Acquisitions &#8211; right-of-use asset</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">55,416</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">3,090,682</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Acquisitions &#8211; leases receivables</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">501,038</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Interest expense</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">61,533</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">68,886</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:9pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Others</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(52,414)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-right:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Ending of the year</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,729,657</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,776,187</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">42</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="text-align:justify"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">21. Leases</font></div><div style="padding-left:10pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company leases offices, vehicles and others. The leases typically run for a period of 1 to 5 years with an option to renew or terminate the lease after that date. There are no restrictions or covenants imposed to leases, but the lease assets are not to be provided as collateral for borrowings.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company has a sublease for a portion of the existing lease contract. The head lease and its sub-lease terminates in 2024.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">1) As a lessee</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(a) Details of right-of-use assets and lease liabilities recognized in the separate statements of financial position as of December 31, 2022 and December 31, 2021 are as follows&#58;</font></div><div style="padding-left:28.35pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:94.315%"><tr><td style="width:1.0%"></td><td style="width:38.283%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.656%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.197%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.180%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.098%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.153%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.533%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">December 31, 2022</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Right-of-use assets(*1)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Offices</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,297,504</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,366,358</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Vehicles</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">61,534</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">283,570</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Others</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">128,976</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">727,985</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,488,014</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,377,913</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Lease liabilities(*2)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:2pt double #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Current</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,367,286</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,014,338</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Non-current</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,362,371</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,761,849</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%"> </font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,729,657</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,776,187</font></td></tr></table></div><div style="padding-left:16pt;text-align:justify;text-indent:4.5pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:41pt;text-align:justify;text-indent:-20pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*1) Right-of-use assets are included in the 'Property and equipment' in the separate statement of financial position.</font></div><div style="margin-bottom:12pt;padding-left:41pt;text-align:justify;text-indent:-20pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*2) Lease liabilities are included in the 'Other current liabilities' and 'Other non-current liabilities' in the separate statement of financial position.</font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">b) Changes in right-of-use assets for the years ended December 31, 2022 and December 31, 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:26.827%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.400%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.202%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.400%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.764%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.400%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.915%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.400%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.665%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.400%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.524%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:1.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:133%">)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="30" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2022</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Offices</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Vehicles</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Others</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Total</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Balance as of January 1, 2022</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.1pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">3,366,359 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">283,570 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">727,984</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:7.2pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">4,377,913 </font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Depreciation</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.1pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(1,068,854)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(225,037)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(599,008)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:7.2pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(1,892,899)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Reassessment</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.1pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">- </font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(52,415)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">- </font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:7.2pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(52,415)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Acquisitions</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.1pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">55,416 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">- </font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:7.2pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">55,416 </font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Balance as of December 31, 2022</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.1pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">2,297,505</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">61,534</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">128,976</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:7.2pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">2,488,015</font></div></td></tr></table></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">43</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">21. Leases, Continued</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:26.744%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.398%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.195%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.398%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.720%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.398%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.596%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.870%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.398%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.596%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.618%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.398%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.596%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.775%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:1.6pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:133%">)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="30" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2021</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Offices</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Vehicles</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Others</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Total</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Balance as of January 1, 2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.1pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,237,963</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">84,723</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,312,599</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:1.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">2,635,285</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Depreciation</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.1pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(848,628)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(178,938)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(584,615)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:1.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(1,612,181)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Reassessment</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.1pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,516,018</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:1.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,516,018</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Acquisitions</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.1pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,461,006</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">377,785</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:1.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,838,791</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Balance as of December 31, 2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.1pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">3,366,359</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">283,570</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">727,984</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:1.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">4,377,913</font></div></td></tr></table></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:31pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(c) Details of amounts recognized in the separate statements of comprehensive income for the years ended December 31, 2022 and December 31, 2021</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.160%"><tr><td style="width:1.0%"></td><td style="width:66.978%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.134%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.743%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.777%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.768%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest expense relating to lease liabilities (included in finance cost)</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:14.2pt;padding-right:5.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#160;&#160;&#160;61,533 </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:14.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">68,886</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Revenue from sub-lease of right-of-use asset</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.5pt;text-align:right;text-indent:13.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">7,014</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,007</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Expense relating to short-term leases</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:5.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">2,423 </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">105,197</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Expense relating to leases of low-value assets excluding short-term leases</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:5.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#160;4,968</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,454</font></td></tr></table></div><div style="margin-top:12pt;padding-left:30pt;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(d) Details of amounts recognized in the separate statement of cash flows for the years ended December 31, 2022 and December 31, 2021 are as follows&#58;</font></div><div style="padding-left:16pt;text-align:justify"><font><br></font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:69.767%"><tr><td style="width:1.0%"></td><td style="width:51.446%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.957%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.420%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.918%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.418%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.957%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.724%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.960%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2022</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;padding-right:7.1pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2021</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total cash outflows of leases</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">2,118,456</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,963,708</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(2) As a lessor</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company has sub-leased part of its right-of-use assets. The Company recognized interest income related to the lease receivable amounting to </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">7,014 thousand for the year ended December 31, 2022.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The aging analysis with the amounts expressed in undiscounted lease receivables after the reporting date are as follows. The Company does not have any sublease as finance lease in accordance with K-IFRS No. 1017.</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:2.868%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.503%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.434%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.434%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.392%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.434%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.434%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.550%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.434%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.911%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.979%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.434%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.546%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.931%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.434%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.752%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.830%"></td><td style="width:0.1%"></td></tr><tr><td colspan="24" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Less than</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">1 Year</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">1 to 2 Years</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2 to 5 Years</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Contractual </font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">cash flow</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Unrealized financial income</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Net investment in the lease</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">197,789</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">191,895</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">389,684</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,047</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">384,637</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">44</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">22</font><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">. </font><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">Financial Risk Management</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company&#8217;s operating activities expose itself to a variety of financial risks&#58; market risk, credit risk and liquidity risk from which the Company&#8217;s risk management program focuses on minimizing any adverse effects on its financial performance. The Company operates financial risk management policies and programs that closely monitor and respond to each risk factor.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(1) Capital Risk Management</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company&#8217;s objectives when managing capital are to safeguard the Company&#8217;s ability to continue as a going concern, so the Company can continue to provide returns and benefits for shareholders and to maintain an optimal capital structure to reduce the cost of capital. The Company monitors capital on the basis of the debt ratio. This ratio is calculated as total debt divided by total capital. The debt ratios as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:81.233%"><tr><td style="width:1.0%"></td><td style="width:30.907%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.794%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.665%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:28.323%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.782%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:26.733%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.796%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">December 31, 2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total liabilities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">31,717,523</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">52,988,480</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total equity</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">260,591,817</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">205,677,093</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Debt ratio</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">12%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26%</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(2) Market Risk</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(a) Foreign exchange risk</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company is exposed to foreign exchange risk arising from royalty revenues and commission payment primarily with respect to the US dollar. The Company&#8217;s financial assets and liabilities are exposed to foreign currency risk as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.122%"><tr><td style="width:1.0%"></td><td style="width:17.066%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.479%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.295%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.689%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.479%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.667%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.708%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.479%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.479%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.479%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.346%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.479%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.689%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.479%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.479%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.479%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.479%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.479%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.387%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.484%"></td><td style="width:0.1%"></td></tr><tr><td colspan="57" style="padding:2px 1pt 2px 8.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won, in foreign currencies)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.6pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="48" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">December 31, 2022</font></div></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Assets in foreign </font></div><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">currency</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Liabilities in foreign currency</font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Assets in </font></div><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Korean Won</font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Liabilities in Korean Won</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">USD</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">35,631,845</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">8,342,485</font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">45,156,237</font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">10,572,431</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">JPY</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">512,348,069 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">136,209,457 </font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">4,883,599&#160;</font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,298,321 </font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">EUR</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">25,839 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">30,472 </font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">34,914&#160;</font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">41,174 </font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">IDR</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">12,955,000 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">3,103,944 </font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,048&#160;</font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">251 </font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">THB</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">28,510 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">7,379 </font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,045&#160;</font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">270 </font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">VND</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">9,270,000 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">3,243,600 </font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">498 </font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:5.7pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">174 </font></div></td></tr><tr><td colspan="21" style="padding:0 1pt"><div style="padding-right:4.9pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:4.9pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">50,077,341</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-right:4.5pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">11,912,621</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">45</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">22</font><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">. </font><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">Financial Risk Management, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(2) Market Risk, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(a) Foreign exchange risk, Continued</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.091%"><tr><td style="width:1.0%"></td><td style="width:16.883%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.472%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.657%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.883%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.472%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.312%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.723%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.472%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:1.925%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.555%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.472%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.472%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.639%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.963%"></td><td style="width:0.1%"></td></tr><tr><td colspan="39" style="padding:2px 1pt 2px 8.1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won, in foreign currencies)</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.6pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="30" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">December 31, 2021</font></div></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Assets in foreign </font></div><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">currency</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Liabilities in</font></div><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">&#160;foreign currency</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Assets in </font></div><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Korean Won</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Liabilities in Korean Won</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">USD</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">28,396,198</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">15,031,444</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:9pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">33,663,693</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:9pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">17,819,777</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">JPY</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">684,204,339</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">195,446,852</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">7,048,947</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">2,013,572</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">EUR</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">356,541</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">33,944</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">478,599</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">45,564</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">IDR</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">12,955,000</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">3,103,944</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,077</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">258</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">THB</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">28,510</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">7,379</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,014</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">262</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">TWD</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">9,521,305</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">407,893</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">VND</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">9,270,000</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:5.5pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">3,243,600</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">483</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">169</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:5.7pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#12288;</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:9pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.7pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">41,601,706</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:4.5pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:4.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">19,879,602</font></div></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The Company measures foreign exchange risk at the exchange rate of 10% for each foreign currency, and the rate of change reflects the management's assessment of the risk of exchange rate fluctuation that can be reasonably experienced. The effects of changes in foreign currency exchange rate on profit before tax for the years ended of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:15.617%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.407%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.851%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.833%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.407%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.623%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.744%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.407%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.407%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.529%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.407%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.711%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:17.441%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.416%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:133%">)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2022</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="12" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:3.2pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Increased by 10%</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:0.8pt;text-indent:-7.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Decreased by 10%</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Increased by 10%</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="6" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Decreased by 10%</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.45pt;padding-right:1.45pt;text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">USD</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">3,456,381 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(3,458,381)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,584,392</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(1,584,392)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.45pt;padding-right:1.45pt;text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">JPY</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">358,528 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(358,528)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">503,538</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(503,538)</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.45pt;padding-right:1.45pt;text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Others</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(436)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">436 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">84,281</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(84,281)</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">3,816,473 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(3,816,473)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">2,172,211</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">(2,172,211)</font></div></td></tr></table></div><div style="padding-right:2.9pt;text-align:right;text-indent:1.25pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The sensitivity analysis is based on monetary assets and liabilities denominated in foreign currencies other than the functional currency at the end of the reporting period.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(b) Interest rate risk</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">There are no borrowings under variable interest rate conditions as of December 31, 2022 and 2021.</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(c) Price risk</font></div><div style="padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">There are no assets and liabilities exposed to price risk as of December 31, 2022 and 2021.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">46</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">22</font><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">. </font><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">Financial Risk Management, Continued</font></div><div style="margin-bottom:3pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(3) Credit Risk</font></div><div style="margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Credit risk arises from normal trading and investing activities and occurs when a customer or a counterparty fails to comply with the terms of the contract. In order to manage these credit risks, the Company regularly evaluates the creditworthiness of customers based on their financial condition, past experiences and other factors.</font></div><div style="margin-top:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The carrying amounts of financial assets represent their maximum exposure to credit risk. </font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The maximum exposure to credit risk of the Company as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:86.078%"><tr><td style="width:1.0%"></td><td style="width:39.425%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.863%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.716%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.477%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:1.901%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.976%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.742%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">December 31, 2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.1pt;padding-right:4.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">42,985,625</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26,602,122</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Short-term financial instruments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">167,000,000</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">148,000,000</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accounts receivables, net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">35,117,290</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">40,569,841</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other receivables, net</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">830,176</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">619,903</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other current financial assets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,249,537</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">790,051</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Oher non-current financial assets</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,048,028</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,895,565</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">251,230,656</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#12288;</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">219,477,482</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Cash and cash equivalents and short-term financial instruments are deposited in financial institutions with strong credit ratings. Accounts receivable are mainly due from payment processing companies and platform service providers, which the Company believes have low levels of credit risk.</font></div><div style="padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(4) Liquidity Risk</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Liquidity risk management includes the maintenance of sufficient cash and marketable securities, the availability of funds from appropriately committed credit lines, and the ability to settle market positions. The following table summarizes the financial liabilities of the Company by maturity according to the remaining period from the end of the reporting period to the contractual maturity date.</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:16.945%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.057%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.478%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.478%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.478%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.003%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.328%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.003%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.478%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.153%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.188%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="51" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">December 31, 2022</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Carrying<br>value</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Less than</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">3 months</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">3 months to </font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">1 year</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">1 to 2 years</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">2 to 4 years</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Total</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accounts payable</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:14.2pt;padding-right:0.7pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">15,108,676</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,358,036</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:1.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">376,651 </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:1.6pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">373,989 </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:3.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">- </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:3.6pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">15,108,676</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other liabilities (*)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt;padding-right:88pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:14.2pt;padding-right:0.7pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">2,969,525 </font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">519,582</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:1.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">931,919</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:1.6pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">1,417,449</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:3.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">197,844</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:3.6pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">3,066,794</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:14.2pt;padding-right:0.7pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">18,078,201</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,877,618</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt;padding-right:16pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:1.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">1,308,570</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:1.6pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">1,791,438</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:3.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">197,844</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:3.6pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">18,175,470</font></div></td></tr></table></div><div style="padding-left:29.9pt;text-align:justify;text-indent:-10.7pt"><font><br></font></div><div style="padding-left:29.9pt;text-align:justify;text-indent:-10.7pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*) Other liabilities as of December 31, 2022 consist of lease deposits received and lease liabilities.</font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">47</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">22</font><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">. </font><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">Financial Risk Management, Continued</font></div><div style="padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(4) Liquidity Risk, Continued</font></div><div><font><br></font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:16.945%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.057%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.478%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.478%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.478%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.003%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.328%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.003%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.478%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.153%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.188%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="51" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">December 31, 2021</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Carrying<br>value</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Less than</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">3 months</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">3 months to </font></div><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">1 year</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">1 to 2 years</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">2 to 3 years</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Total</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accounts payable</font></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:14.2pt;padding-right:0.7pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">27,467,821</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:5.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">26,673,446</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:1.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">65,203</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:1.6pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">729,172</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:3.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:3.6pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">27,467,821</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other liabilities (*)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt;padding-right:88pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:14.2pt;padding-right:0.7pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">5,016,055</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:5.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">510,225</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:1.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">1,564,539</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:1.6pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">1,431,702</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:3.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">1,615,293</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:3.6pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">5,121,759</font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:14.2pt;padding-right:0.7pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">32,483,876</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:5.5pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">27,183,671</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:1.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">1,629,742</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:1.6pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">2,160,874</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:3.2pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">1,615,293</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;padding-right:3.6pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">32,589,580</font></div></td></tr></table></div><div style="padding-left:29.9pt;text-align:justify;text-indent:-10.7pt"><font><br></font></div><div style="padding-left:29.9pt;text-align:justify;text-indent:-10.7pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*) Other liabilities as of December 31, 2021 consist of lease deposits received and lease liabilities.</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The cash flows above are not discounted and the amount due within 12 months is the same as the carrying amount since the effect of the discount is not material.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">23. Related Party Transactions</font></div><div style="padding-left:28.3pt;text-align:justify;text-indent:-12.3pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(1) Related parties of the Company include entities and individuals capable of exercising control or significant influence over the Company and its subsidiaries. Related parties include GungHo Online Entertainment, Inc., its subsidiaries, members of board of directors, executives with strategic responsibilities and their immediate families.</font></div><div style="padding-left:28.3pt;text-align:justify;text-indent:-12.3pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:28.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ownership interests in subsidiaries as of December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:28.35pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:86.078%"><tr><td style="width:1.0%"></td><td style="width:45.053%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.300%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.040%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.113%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:24.040%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.554%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:3pt;padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Name of entity</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:3pt;padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Percentage of ownership (%)</font></div></td></tr><tr style="height:20pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:3pt;padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">December 31, 2022</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="margin-top:3pt;padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:3pt;padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">December 31, 2021</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Interactive, Inc.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity NeoCyon, Inc.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">99.53</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">99.53</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Communications Co., Ltd.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">PT. Gravity Game Link</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">70.00</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">70.00</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Game Tech Co., Ltd.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Game Arise Co., Ltd.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Game Hub PTE., Ltd.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Game Vision Limited(*)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">100.00</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:10pt;text-indent:18.8pt"><font><br></font></div><div style="padding-left:46pt;text-align:justify;text-indent:-15pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*) Gravity Game Vision Limited., was established during 2022 and has been included in subsidiary since then.</font></div><div style="padding-left:28.8pt"><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">48</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">23. Related Party Transactions, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(2) Account balances with related parties</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Balances of receivables and payables with related parties as of December 31, 2022 and 2021 are as follows&#58;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:12.932%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.390%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:26.817%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.390%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.149%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.603%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.390%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.833%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.569%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.390%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.159%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.390%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.129%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.759%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:133%">)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">December 31, 2022</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="12" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">December 31, 2021</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Related party</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Name of entity</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Receivables</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Payables</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Receivables</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Payables</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Parent company</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">GungHo Online Entertainment, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">2,707,640</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">2,804</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">5,051,013</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">7,448</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Other</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">GungHo Online Entertainment America</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.25pt;padding-right:2.25pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">29,692</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td></tr><tr style="height:15pt"><td colspan="3" rowspan="8" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Subsidiaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Interactive, Inc.</font></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">3,591,765</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">540,346</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">3,538,932</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">405,359</font></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity NeoCyon, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">460,846</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">904,356</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:4.5pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">822,009</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,550,411</font></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Communications Co., Ltd.</font></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,581,356</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,696,212</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,179,228</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,283,908</font></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">PT. Gravity Game Link</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">412,174</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">270,362</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">35,824</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">9,411</font></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gravity Game Tech Co., Ltd.</font></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,848,604</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">158,370</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,439,384</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">181,043</font></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Game Arise Co., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">135,588</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">775,877</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">310,412</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,106,765</font></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Game Hub PTE., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">707,855</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">96,628</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Game Vision Limited</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">7,359,665</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td></tr><tr><td colspan="12" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">18,805,493</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">4,378,019</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">12,473,430</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">4,544,345</font></div></td></tr></table></div><div style="padding-left:16pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:16pt;text-indent:-1.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(3) Transactions with related parties</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The details of transactions with related parties for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.644%"><tr><td style="width:1.0%"></td><td style="width:14.297%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.448%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:34.232%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.448%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.448%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.838%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.448%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.934%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.610%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.731%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.448%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.448%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.569%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.448%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.448%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.448%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.454%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:133%">)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="24" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="12" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="27" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Revenues</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Related party</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Name of entity</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Royalty</font></div></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Commission</font></div></td><td colspan="12" style="border-bottom:0.5pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Other</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Parent company</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">GungHo Online Entertainment, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">24,812,723 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Other</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">GungHo Online Entertainment America</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td></tr><tr style="height:15pt"><td colspan="3" rowspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Subsidiaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Interactive, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">13,131,855 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">49,089</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity NeoCyon, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">252,129 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;255,648</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Communications Co., Ltd. (*1)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">10,234,910 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">9,021,934</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">PT. Gravity Game Link</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">350,953 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">9,108</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Game Tech Co., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">7,395,549 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">188,368</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Game Arise Co., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">27,928</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Game Hub PTE., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">868,645 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">23,680</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Game Vision Limited</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">13,252,829 </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">4,602</font></div></td><td colspan="6" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td></tr><tr><td colspan="15" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">70,299,593</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="border-bottom:2pt double #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">9,580,357</font></div></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#12288;</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right;text-indent:1.25pt"><font><br></font></div></td></tr></table></div><div style="padding-left:28.85pt;text-align:justify;text-indent:-9.65pt"><font><br></font></div><div style="padding-left:36.7pt;text-indent:-20.7pt"><font><br></font></div><div style="padding-left:36.7pt;text-indent:-20.7pt"><font><br></font></div><div style="padding-left:36.7pt;text-indent:-20.7pt"><font><br></font></div><div style="padding-left:36.7pt;text-indent:-20.7pt"><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">49</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:120%">23. Related Party Transactions, Continued</font></div><div style="padding-left:36.7pt;text-indent:-20.7pt"><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.644%"><tr><td style="width:1.0%"></td><td style="width:14.459%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.448%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:34.556%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.448%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.448%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.303%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.838%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.448%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.934%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.610%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.731%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.448%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.448%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.731%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.448%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.102%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:133%">)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="24" style="border-bottom:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="27" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Purchases</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Related party</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Name of entity</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Royalty</font></div></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Commission</font></div></td><td colspan="12" style="border-bottom:0.5pt solid #000000;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Other</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Parent company</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">GungHo Online Entertainment, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">12,671</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">7,648</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Other</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">GungHo Online Entertainment America</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">42,479</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" rowspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Subsidiaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Interactive, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,415,119</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">47,248</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity NeoCyon, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">23,515</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">7,032,473</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;8,211</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Communications Co., Ltd. </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">6,326,904</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">PT. Gravity Game Link</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">205,573</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">278,705</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Game Tech Co., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">56,087</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Game Arise Co., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">2,813,005</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">588,731</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Game Hub PTE., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Game Vision Limited</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="15" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">65,994</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">17,861,832</font></div></td><td colspan="12" style="border-bottom:2pt double #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">930,543</font></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.160%"><tr><td style="width:1.0%"></td><td style="width:14.372%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.451%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:33.590%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.451%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.451%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.320%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.906%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.451%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.940%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.614%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.789%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.102%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.451%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.626%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.451%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.451%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.784%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:133%">)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="24" style="border-bottom:1pt solid #6d6d6d;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="27" style="border-bottom:1pt solid #6d6d6d;border-top:1pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Revenues</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Related party</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Name of entity</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Royalty</font></div></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Commission</font></div></td><td colspan="12" style="border-bottom:0.5pt solid #000000;border-top:1pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Other</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Parent company</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">GungHo Online Entertainment, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">35,489,010</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" rowspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Subsidiaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Interactive, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">14,836,435</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">2,181</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity NeoCyon, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">37,962</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;289,367</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Communications Co., Ltd. (*1)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">7,265,161</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">11,417,430</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">PT. Gravity Game Link</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">298,864</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Game Tech Co., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">6,757,989</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">11,785</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Game Arise Co., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Game Hub PTE., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="15" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">64,685,421</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">11,720,763</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="15" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="12" style="padding:0 1pt"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:1.1pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:133%">)</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="24" style="border-bottom:1pt solid #6d6d6d;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:center;text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="27" style="border-bottom:1pt solid #6d6d6d;border-top:1pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Purchases</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Related party</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Name of entity</font></div></td><td colspan="3" style="padding:0 1pt"><div style="text-indent:1.1pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Royalty</font></div></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:0 1pt"><div style="text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:1pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Commission</font></div></td><td colspan="12" style="border-bottom:0.5pt solid #000000;border-top:1pt solid #6d6d6d;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">Other</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:4.5pt;text-align:justify;text-indent:-4.5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Parent company</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">GungHo Online Entertainment, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">55,382</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">1,762</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" rowspan="6" style="padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Subsidiaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Interactive, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">643,324</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity NeoCyon, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">6,732,162</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">2,405</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Communications Co., Ltd. </font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">5,676,890</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">PT. Gravity Game Link</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">148,296</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">9,304</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Game Tech Co., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">29,534</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Game Arise Co., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">3,246,517</font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-right:3.3pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">Gravity Game Hub PTE., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.3pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="6" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="12" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr><tr><td colspan="15" style="padding:0 1pt"><div style="padding-left:1.65pt;padding-right:1.65pt;text-align:center;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">-</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-right:3.6pt;text-indent:1.25pt"><font><br></font></div></td><td colspan="3" style="border-bottom:2pt double #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">16,532,105</font></div></td><td colspan="12" style="border-bottom:2pt double #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-right:3.6pt;text-align:right;text-indent:1.25pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:133%">13,471</font></div></td><td colspan="6" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:16pt"><font><br></font></div><div style="padding-left:36.7pt;text-indent:-20.7pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(*1) Revenues &#8211; Other includes dividend income of </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">8,839,924 thousand and </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%;text-decoration:line-through">W</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">11,326,984 received in 2022 and 2021 respectively.</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">50</font></div></div></div><hr style="page-break-after:always"><div style="min-height:108.72pt;width:100%"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">GRAVITY CO., LTD.</font></div><div><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:13pt;font-weight:400;line-height:100%">Notes to the Financial Statements</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of December 31, 2022 and 2021 </font></div></div><div style="padding-left:16pt"><font><br></font></div><div><font><br></font></div><div style="margin-bottom:12pt"><font style="color:#002060;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">23. Related Party Transactions, Continued</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(4) Other transactions with related parties</font></div><div style="margin-bottom:12pt;padding-left:16pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Other transactions with related parties for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:21.3pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:80.103%"><tr><td style="width:1.0%"></td><td style="width:11.803%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.009%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:39.222%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.009%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.529%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.053%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.009%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.009%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.057%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="padding:2px 1pt 2px 3.1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">(In thousands of won)</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Contribution</font></div></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.05pt;padding-right:3.05pt;text-align:center;text-indent:-4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Related party</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">Name of entity</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">2022</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:133%">2021</font></div></td></tr><tr style="height:15pt"><td colspan="3" rowspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:2.1pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Subsidiaries</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6.1pt;text-indent:-4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Gravity NeoCyon, Inc.</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:2.1pt;text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">1,990,577</font></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6.1pt;text-indent:-4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">PT. Gravity Game Link</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">799,733</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6.1pt;text-indent:-4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Gravity Game Arise Co., Ltd.</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">993,080</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,024,400</font></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6.1pt;text-indent:-4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Gravity Game Hub PTE., LTD</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,426,127</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,906,494</font></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="padding-left:1.05pt;padding-right:1.05pt;text-align:center"><font><br></font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:2.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6.1pt;text-indent:-4pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:133%">Gravity Game Vision Limited</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">633,282</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">-</font></td></tr></table></div><div style="margin-top:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:145%">No financing transactions were made with related parties for the years ended December 31, 2022 and 2021. </font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:14.2pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(5) Key management personnel compensation</font></div><div style="margin-bottom:12pt;padding-left:16pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The compensation given to key management personnel (registered directors) for the years ended December 31, 2022 and 2021 are as follows&#58;</font></div><div style="padding-left:17pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:66.052%"><tr><td style="width:1.0%"></td><td style="width:30.929%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.755%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.234%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:25.794%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.244%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.017%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.027%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:133%">(In thousands of won)</font></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:7.1pt"><font><br></font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:3.55pt;padding-right:3.55pt;text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:133%">2021</font></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:14.2pt"><font><br></font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Salaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%;text-decoration:line-through">W</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,423,280</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,224,617</font></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">51</font></div></div></div><div id="i4315cb5548174b568fbc81a748d084f3_62"></div><hr style="page-break-after:always"><div style="min-height:70.56pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:133%">Independent Auditors&#8217; Review Report on Internal Control over Financial Reporting</font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">(English translation of a Report Originally Issued in Korean)</font></div><div style="margin-bottom:20pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:133%">To the Chief Executive Officer of</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:133%">Gravity Co., Ltd.</font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">We have reviewed the accompanying management&#8217;s report on the effectiveness of the Internal Control over Financial Reporting (&#8220;ICFR&#8221;) of Gravity Co., Ltd. (the &#8220;Company&#8221;) as of December 31, 2022. The Company&#8217;s management, including the Chief Executive Officer and ICFR Officer is responsible for designing and operating ICFR and for its assessment of the effectiveness of ICFR. Our responsibility is to review the management&#8217;s report on the effectiveness of the ICFR and issue a report based on our review. The management</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:133%">&#8217;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">s report on the effectiveness of the ICFR of the Company states that &#8220;Based on the assessment results, Chief Executive Officer and ICFR Officer believe that the Company&#8217;s ICFR, as at December 31, 2022, is designed and operating effectively, in all material respects, in conformity with the Conceptual Framework for designing and operating ICFR.&#8221;</font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Our review was conducted in accordance with the ICFR review standards established by the Korean Institute of Certified Public Accountants. Those standards require that we plan and perform, in all material respects, the review of management&#8217;s report on the effectiveness of the ICFR to obtain a lower level of assurance than an audit. A review is to obtain an understanding of a company&#8217;s ICFR and consists principally of inquiries of management and, when deemed necessary, a limited inspection of underlying documents, which is substantially less in scope than an audit. However, in accordance with Chapter 4, &#8216;Application to small &#38; medium sized companies&#8217; of the Conceptual Framework for designing and operating ICFR and Chapter 4, &#8216;Application to small &#38; medium sized companies&#8217; of the Best Practice Guideline, the design, operation and assessment of its ICFR are limited compared with those of public large sized companies as the Company is a non-public large sized company (or a public small &#38; medium sized company). As such, we performed our review in accordance with Chapter 14, &#8216;Review standards for small &#38; medium sized companies&#8217;.</font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">A company&#8217;s ICFR is a system to monitor and operate those policies and procedures designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with International Financial Reporting Standards as adopted by the Republic of Korea. Because of its inherent limitations, ICFR may not prevent or detect a material misstatement of the financial statements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.</font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Based on our review, nothing has come to our attention that causes us to believe that management&#8217;s report on the effectiveness of the ICFR, referred to above, is not presented fairly, in all material respects, in accordance with Chapter 4, &#8216;Application to small &#38; medium sized companies&#8217; of the Best Practice Guideline, the design, operation and assessment of its ICFR.</font></div><div style="margin-bottom:6pt;text-align:justify"><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">52</font></div></div></div><hr style="page-break-after:always"><div style="min-height:70.56pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Our review is based on the Company&#8217;s ICFR as of December 31, 2022, and we did not review management&#8217;s assessment of its ICFR subsequent to December 31, 2022. This report has been prepared pursuant to the Acts on External Audit for Stock Companies, etc. in Korea and may not be appropriate for other purposes or for other users. </font></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Samil PricewaterhouseCoopers</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">March 23, 2023</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:justify;vertical-align:top"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">This report is effective as at March 23, 2023, the review report date. Certain subsequent events or circumstances, which may occur between the review report date and the time of reading this report, could have a material impact on the Company&#8217;s internal control over financial reporting thereto. Accordingly, the readers of the review report should understand that there is a possibility that the above review report may have to be revised to reflect the impact of such subsequent events or circumstances, if any.</font></td></tr></table></div><div style="margin-bottom:12pt;text-align:justify"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">53</font></div></div></div><hr style="page-break-after:always"><div style="min-height:70.56pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Report on the Effectiveness of Internal Control over Financial</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Reporting</font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">English translation of a Report Originally Issued in Korean)</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">To Gravity Co., Ltd Shareholders, the Board of Directors, and the Audit Committee, </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">We, as the Chief Executive Officer(&#8220;CEO&#8221;) and Internal Control over Financial Reporting(&#8220;ICFR&#8221;) Officer of Gravity (&#8220;the Company&#8221;), assessed the status of the design and operation of the Company&#8217;s ICFR for the year ending December 31, 2022.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Design and operation of ICFR is the responsibility of the Company&#8217;s management, including the Chief Executive Officer and the ICFR Officer. We evaluated whether the Company effectively designed and operated its ICFR to prevent and detect errors or frauds which may cause a misstatement in financial statements to ensure preparation and disclosure of reliable financial information. The CEO and ICFR Officer followed Chapter 4, (Application to Small-and-Medium sized Companies) of the Conceptual Framework for designing and operating ICFR design and operation.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Based on our assessment of ICFR operation, we concluded that the Company&#8217;s ICFR has been appropriately designed and is operating effectively in all material respects as of December&#160;31, 2022, in accordance with the &#8216;Conceptual Framework for Designing and Operating Internal Control over Financial Reporting&#8217;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">The CEO and ICFR Officer of the Company have confirmed that the report contents are not falsely stated or indicated, and that there are no omissions to be stated or indicated. In addition, the CEO and ICFR Officer of the Company confirmed that the contents of the report did not contain or indicate what could cause serious misunderstanding, and they directly checked and reviewed the contents of the report with due care.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt"><font><br></font></div><div style="margin-bottom:12pt"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">March 8, 2023</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">Chief Executive Officer    Park Hyun Chul (signature)</font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:133%">ICFR Officer   Kim Heung Gon (signature)</font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="height:47.52pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">54</font></div></div></div></body></html>
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</SEC-DOCUMENT>
