Gravity (GRVY) 20-F27 Apr 152014 FY Annual report (foreign)Financial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2014
Document and Entity Information
Entity Registrant Name	GRAVITY CO., LTD.
Entity Central Index Key	1313310
Document Type	20-F
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	6,948,900
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED BALANCE SHEETS	USD ($)	KRW	KRW
Current assets:
Cash and cash equivalents	$26,017,000	28,382,000,000	31,222,000,000
Short-term financial instruments	13,292,000	14,500,000,000	18,000,000,000
Accounts receivable, net (including related party balances of 1,710 and 1,325, respectively)	4,729,000	5,159,000,000	5,333,000,000
Current portion of deferred income tax assets			1,433,000,000
Prepaid expenses	875,000	954,000,000	619,000,000
Other current assets (including related party balances of 63 and 40, respectively)	1,555,000	1,697,000,000	2,044,000,000
Total current assets	46,468,000	50,692,000,000	58,651,000,000
Property and equipment, net	1,112,000	1,213,000,000	2,315,000,000
Leasehold and other deposits	859,000	937,000,000	5,569,000,000
Capitalized software development cost	7,840,000	8,553,000,000	12,543,000,000
Other intangible assets	193,000	210,000,000	166,000,000
Goodwill	1,109,000	1,210,000,000	1,210,000,000
Deferred income tax assets			7,173,000,000
Other non-current assets	258,000	281,000,000	138,000,000
Total assets	57,839,000	63,096,000,000	87,765,000,000
Current liabilities:
Accounts payable (including related party balances of 279 and 99, respectively)	2,487,000	2,713,000,000	4,374,000,000
Deferred revenue (including related party balances of 479 and 298, respectively)	5,250,000	5,727,000,000	5,782,000,000
Accrued expense (including related party balances of nil and 15, respectively)	721,000	787,000,000	573,000,000
Other current liabilities	389,000	424,000,000	671,000,000
Total current liabilities	8,847,000	9,651,000,000	11,400,000,000
Long-term deferred revenue (including related party balances of 4,998 and 4,699, respectively)	4,829,000	5,268,000,000	6,875,000,000
Accrued severance benefits	94,000	103,000,000	263,000,000
Other non-current liabilities	208,000	226,000,000	227,000,000
Total liabilities	13,978,000	15,248,000,000	18,765,000,000
Commitments and contingencies (See Note 11)
Parent Company Shareholders' equity:
Preferred shares, 500 par value, 2,000,000 shares authorized, and no shares issued and outstanding at December 31, 2013 and 2014
Common shares, 500 par value, 38,000,000 shares authorized, and 6,948,900 shares issued and outstanding at December 31, 2013 and 2014	3,185,000	3,474,000,000	3,474,000,000
Additional paid-in capital	68,822,000	75,076,000,000	75,076,000,000
Accumulated deficit	-29,148,000	-31,796,000,000	-10,889,000,000
Accumulated other comprehensive income	1,394,000	1,521,000,000	1,674,000,000
Total parent company shareholders' equity	44,253,000	48,275,000,000	69,335,000,000
Non-controlling interest	-392,000	-427,000,000	-335,000,000
Total equity	43,861,000	47,848,000,000	69,000,000,000
Total liabilities and equity	$57,839,000	63,096,000,000	87,765,000,000

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical)	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
	USD ($)	KRW	KRW	Related Party	Related Party
				KRW	KRW
Accounts receivable, related party				1,325,000,000	1,710,000,000
Other current assets	1,555,000	1,697,000,000	2,044,000,000	40,000,000	63,000,000
Capitalized software development cost	7,840,000	8,553,000,000	12,543,000,000
Accounts payable, related party				99,000,000	279,000,000
Deferred revenue	5,250,000	5,727,000,000	5,782,000,000	298,000,000	479,000,000
Accrued expense	721,000	787,000,000	573,000,000	15,000,000	0
Long-term deferred revenue	$4,829,000	5,268,000,000	6,875,000,000	4,699,000,000	4,998,000,000
Preferred shares, par value (in Korean Won per share)		500	500
Preferred shares, shares authorized (in shares)	2,000,000	2,000,000	2,000,000
Preferred shares, shares issued (in shares)	0	0	0
Preferred shares, shares outstanding (in shares)	0	0	0
Common shares, par value (in Korean Won per share)		500	500
Common shares, shares authorized (in shares)	38,000,000	38,000,000	38,000,000
Common shares, shares issued (in shares)	6,948,900	6,948,900	6,948,900
Common shares, shares outstanding (in shares)	6,948,900	6,948,900	6,948,900

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	USD ($)	KRW	KRW	KRW
Revenue
Online games-subscription revenue	$7,299,000	7,962,000,000	8,206,000,000	10,150,000,000
Online games-royalties and license fees (including related party revenue of 24,125, 12,455 and 8,034, respectively)	12,002,000	13,093,000,000	21,726,000,000	32,325,000,000
Mobile games and applications (including related party revenue of 3,296, 4,992 and 3,214, respectively)	13,801,000	15,055,000,000	14,504,000,000	8,262,000,000
Character merchandising, animation and other revenue (including related party revenue of 2,621, 1,104 and 193, respectively)	3,464,000	3,779,000,000	3,249,000,000	7,044,000,000
Total net revenue	36,566,000	39,889,000,000	47,685,000,000	57,781,000,000
Cost of revenue (including related party cost of 2,072, 119 and 315, respectively)	31,340,000	34,188,000,000	35,399,000,000	34,906,000,000
Gross profit	5,226,000	5,701,000,000	12,286,000,000	22,875,000,000
Selling, general and administrative expenses (including related party expenses of 605, 123 and 7, respectively)	11,626,000	12,682,000,000	17,063,000,000	20,310,000,000
Research and development (including related party expenses of 108, 959 and 277, respectively)	4,443,000	4,847,000,000	6,131,000,000	7,018,000,000
Impairment loss on intangible assets	1,000	1,000,000	5,822,000,000	14,569,000,000
Gain on disposal of equity method investments				-528,000,000
Operating loss	-10,844,000	-11,829,000,000	-16,730,000,000	-18,494,000,000
Other income (expenses)
Interest income	1,042,000	1,137,000,000	1,334,000,000	1,763,000,000
Interest expense	-10,000	-11,000,000	-41,000,000	-55,000,000
Foreign currency loss, net	-139,000	-152,000,000	-413,000,000	-902,000,000
Others, net	2,000	3,000,000	1,225,000,000	65,000,000
Loss before income tax expense and equity loss on investments	-9,949,000	-10,852,000,000	-14,625,000,000	-17,623,000,000
Income tax expenses	9,302,000	10,147,000,000	5,108,000,000	2,584,000,000
Loss before equity loss on investments	-19,251,000	-20,999,000,000	-19,733,000,000	-20,207,000,000
Equity loss on investments, net			-18,000,000	-333,000,000
Net loss	-19,251,000	-20,999,000,000	-19,751,000,000	-20,540,000,000
Net loss attributable to :
Non-controlling interest	-84,000	-92,000,000	-1,163,000,000	-8,316,000,000
Parent company	-19,167,000	-20,907,000,000	-18,588,000,000	-12,224,000,000
Losses per share-basic and diluted:	($2.76)	-3,009	-2,675	-1,759
Weighted average number of shares outstanding Basic and diluted (in shares)	6,948,900	6,948,900	6,948,900	6,948,900
Foreign currency translation adjustment ("CTA")
Foreign CTA loss	-143,000	-156,000,000	-102,000,000	-39,000,000
Reclassification adjustment for CTA	2,000	3,000,000	-1,225,000,000	-2,000,000
Net foreign CTA loss	-141,000	-153,000,000	-1,327,000,000	-41,000,000
Comprehensive loss	-19,392,000	-21,152,000,000	-21,078,000,000	-20,581,000,000
Comprehensive loss attributable to:
Non-controlling interest	-84,000	-92,000,000	-1,163,000,000	-8,316,000,000
Parent company	($19,308,000)	-21,060,000,000	-19,915,000,000	-12,265,000,000

CONSOLIDATED_STATEMENTS_OF_COM1

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical)(Related Party KRW)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Online games-royalties and license fees related party revenue	8,034,000	12,455,000	24,125,000
Mobile games and applications (including related party revenue of W3,296, W4,992 and W3,214, respectively)	3,214,000	4,992,000	3,296,000
Character merchandising, animation and other revenue (including related party revenue of W2,621, W1,104 and W193, respectively)	193,000	1,104,000	2,621,000
Cost of revenue	315,000	119,000	2,072,000
Selling, general and administrative expenses	7,000	123,000	605,000
Research and development	277,000	959,000	108,000

CONSOLIDATED_STATEMENTS_OF_CHA

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY	Common Shares	Common Shares	Additional Paid-in Capital	Additional Paid-in Capital	Retained Earnings (Accumulated deficit).	Retained Earnings (Accumulated deficit).	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)	Non-Controlling Interest in Subsidiaries	Non-Controlling Interest in Subsidiaries	Total	Total
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY	USD ($)	KRW	USD ($)	KRW	USD ($)	KRW	USD ($)	KRW	USD ($)	KRW	USD ($)	KRW
Beginning Balance at Dec. 31, 2011		3,474,000,000		75,395,000,000		19,923,000,000		3,042,000,000		8,825,000,000		110,659,000,000
Beginning Balance (in shares) at Dec. 31, 2011		6,948,900
Comprehensive loss
Foreign currency translation adjustments, net of tax								-41,000,000				-41,000,000
Net loss						-12,224,000,000				-8,316,000,000		-20,540,000,000
Ending Balance at Dec. 31, 2012		3,474,000,000		75,395,000,000		7,699,000,000		3,001,000,000		509,000,000		90,078,000,000
Ending Balance (in shares) at Dec. 31, 2012		6,948,900
Comprehensive loss
Foreign currency translation adjustments, net of tax								-1,327,000,000				-1,327,000,000
Net loss						-18,588,000,000				-1,163,000,000		-19,751,000,000
Changes in ownership interest in subsidiaries				-319,000,000						319,000,000
Ending Balance at Dec. 31, 2013	3,185,000	3,474,000,000	68,822,000	75,076,000,000	-9,981,000	-10,889,000,000	1,535,000	1,674,000,000	-308,000	-335,000,000	63,253,000	69,000,000,000
Ending Balance (in shares) at Dec. 31, 2013	6,948,900
Comprehensive loss
Foreign currency translation adjustments, net of tax							-141,000	-153,000,000			-141,000	-153,000,000
Net loss					-19,167,000	-20,907,000,000			-84,000	-92,000,000	-19,251,000	-20,999,000,000
Ending Balance at Dec. 31, 2014	$3,185,000	3,474,000,000	$68,822,000	75,076,000,000	($29,148,000)	-31,796,000,000	$1,394,000	1,521,000,000	($392,000)	-427,000,000	$43,861,000	47,848,000,000
Ending Balance (in shares) at Dec. 31, 2014	6,948,900

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	USD ($)	KRW	KRW	KRW
Cash flows from operating activities
Net loss	($19,251,000)	-20,999,000,000	-19,751,000,000	-20,540,000,000
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	5,149,000	5,617,000,000	7,832,000,000	8,339,000,000
Allowance for accounts receivable and other receivables	90,000	98,000,000	28,000,000	213,000,000
Impairment loss on intangible assets	1,000	1,000,000	5,822,000,000	14,569,000,000
Impairment losses on property plant & equipment	4,000	4,000,000
Provision (reversal) for accrued severance benefits	-55,000	-60,000,000	67,000,000	96,000,000
Equity loss on investments, net			18,000,000	333,000,000
Gain on disposition of intangible assets			-100,000,000
Loss (gain) on foreign currency transactions	-69,000	-75,000,000	68,000,000	93,000,000
Loss (gain) on disposition of property and equipment	-5,000	-5,000,000	23,000,000	-7,000,000
Gain on disposal of equity method investment				-528,000,000
Others	-3,000	-3,000,000	-1,122,000,000	7,000,000
Changes in operating assets and liabilities:
Accounts receivable	243,000	265,000,000	1,660,000,000	-1,611,000,000
Other assets	3,691,000	4,026,000,000	834,000,000	76,000,000
Accounts payable	-1,560,000	-1,702,000,000	-636,000,000	-795,000,000
Accrued expenses	191,000	208,000,000	-344,000,000	179,000,000
Deferred revenue	-1,576,000	-1,719,000,000	517,000,000	45,000,000
Income tax payable	-31,000	-34,000,000	-102,000,000	-67,000,000
Deferred income taxes	7,950,000	8,673,000,000	2,474,000,000	-1,025,000,000
Payment of severance benefits	-92,000	-100,000,000	-444,000,000	-190,000,000
Other liabilities	-313,000	-342,000,000	-88,000,000	87,000,000
Net cash used in operating activities	-5,636,000	-6,147,000,000	-3,244,000,000	-726,000,000
Cash flows from investing activities
Decrease in short term financial instruments	41,255,000	45,005,000,000	39,500,000,000	30,000,000,000
Increase in short term financial instruments	-38,042,000	-41,500,000,000	-40,000,000,000	-32,500,000,000
Decrease in short-term loans receivables	33,000	36,000,000	71,000,000	176,000,000
Proceeds from disposal of equity method investments			579,000,000	913,000,000
Purchase of property and equipment	-314,000	-342,000,000	-620,000,000	-1,473,000,000
Proceeds from disposal of property and equipment	14,000	15,000,000	17,000,000	8,000,000
Increase in capitalized software development costs			-946,000,000	-2,842,000,000
Reduction in cash balances upon deconsolidation of subsidiaries				-23,000,000
Decrease in leasehold deposits	303,000	330,000,000	82,000,000	139,000,000
Disposal of other non-current assets			23,000,000	237,000,000
Others, net	-56,000	-61,000,000	60,000,000	173,000,000
Net cash provided by (used in) investing activities	3,193,000	3,483,000,000	-1,234,000,000	-5,192,000,000
Cash flows from financing activities
Proceeds from borrowings				353,000,000
Repayment of borrowings	-132,000	-144,000,000	-619,000,000	-228,000,000
Net cash provided by (used in) financing activities	-132,000	-144,000,000	-619,000,000	125,000,000
Effect of exchange rate changes on cash and cash equivalents	-29,000	-32,000,000	-136,000,000	-182,000,000
Net decrease in cash and cash equivalents	-2,604,000	-2,840,000,000	-5,233,000,000	-5,975,000,000
Cash and cash equivalents
Beginning of the year	28,621,000	31,222,000,000	36,455,000,000	42,430,000,000
End of the year	$26,017,000	28,382,000,000	31,222,000,000	36,455,000,000

Description_of_Business

Description of Business	12 Months Ended
Description of Business	Dec. 31, 2014
Description of Business
Description of Business
	1. Description of Business
	Gravity Co., Ltd. ("Gravity") was incorporated on April 4, 2000 to engage in developing and distributing online games and other related businesses principally in the Republic of Korea and other countries in Asia, North and South America, and Europe. Gravity's principal product, Ragnarok Online, a multiplayer online role playing game, was commercially launched in August 2002. On February 8, 2005, Gravity listed its common shares on NASDAQ in the United States by means of American Depositary Shares ("ADSs").
	Gravity has five subsidiaries. NeoCyon, Inc. and Gravity Games Corporation (formerly Barunson Interactive Corporation) operate in the Republic of Korea, while the others, including Gravity Interactive, Inc., operate in other countries.
	Gravity CIS Co., Ltd. and Gravity RUS Co., Ltd. were excluded from the consolidation during the year ended December 31, 2012 since the Company no longer had control over them (See Note 2).
	On April 1, 2008, GungHo Online Entertainment, Inc. became a majority shareholder by acquiring 52.39% of the voting shares from Heartis Inc., the former majority shareholder, and also acquired additional 6.92% voting shares on June 23 and June 24, 2008. As of December 31, 2014, GungHo Online Entertainment, Inc. has majority ownership and voting rights (59.31%) over the Company.
	The Company conducts its business within one industry segment—the business of developing and distributing online games, mobile games and other related services.

Significant_Accounting_Policie

Significant Accounting Policies

12 Months Ended

Dec. 31, 2014

Significant Accounting Policies

2. Significant Accounting Policies

Basis of presentation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Significant accounting policies followed by the Company in the preparation of the accompanying consolidated financial statements are summarized below.

Principles of consolidation

The accompanying consolidated financial statements include the accounts of Gravity and the following subsidiaries (collectively referred to as the "Company"). All intercompany balances and transactions have been eliminated in the consolidation.

Subsidiary

Year of

Percentage of

Establishment

Obtaining Control

Ownership (%)

Gravity Interactive, Inc.

2003

100.00

Gravity Entertainment Corporation

2003

2004

100.00

NeoCyon, Inc.

2000

2005

96.11

Gravity Middle East & Africa FZ-LLC(*1)

2007

100.00

Gravity Games Corporation(*2)

2003

2010

85.50

(*1)

In May 2007, the Company founded Gravity Middle East & Africa FZ-LLC, a wholly owned United Arab Emirates-based subsidiary. Gravity Middle East & Africa FZ-LLC has been in the process of liquidation since September 2008.

(*2)

In October 2010, the Company acquired 50.83% ownership of Barunson Interactive Corporation. Based on the shareholders' meeting held on March 28, 2011, Barunson Interactive Corporation changed its name to Gravity Games Corporation. In August 2013, the Company additionally acquired 34.67% of the share capital of Gravity Games Corporation through additional capital increase. As a result of increase in ownership interest, additional paid-in capital was decreased by W319 million and non-controlling interest in subsidiaries increased by the same amount.

The list of subsidiaries that were excluded from consolidation during the year ended December 31, 2012 is as follows:

Subsidiary

Reason

Gravity CIS Co., Ltd.(*)

Surrendered rights for shares of its investment

Gravity RUS Co., Ltd.(*)

(*)

In August 2012, the Company surrendered rights for shares (ownership interest of 99.99% (Gravity RUS Co., Ltd.) and 100% (Gravity CIS Co., Ltd.)) of its investments in accordance with the laws of Russia.

Investments in entities where the Company holds more than 20% but less than 50% ownership or over which the Company has significant management influence are accounted for using the equity method of accounting and the Company's share of the investee's operations is included in Equity method investments. The Company follows the equity method of accounting for investments in its joint ventures Animation Production Committee, Gravity EU SAS and Ingamba LLC (Note 6).

Investments in limited partnerships are accounted for using the equity method in accordance with Accounting Standards Codification ("ASC") 323, Investment—Equity Method and Joint Ventures, which requires the use of the equity method unless the investor's interest "is so minor that the limited partner may have virtually no influence over partnership operating and financial policies." The Company follows the equity method of accounting for its investment in Online Game Revolution Fund No. 1 (Note 6).

The Company recorded its initial investments at cost and records its pro rata share of the earnings or losses in the results of operations of the equity method investees.

Use of estimates

The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates and assumptions include useful lives of property and equipment, salvage values and recovery of property and equipment; recoverability of goodwill and intangible assets; valuation allowances for receivables, realization of deferred income tax assets, and estimated life-cycle of the permanent in-game items. Actual results could differ materially from the estimates and assumptions used.

Risks and uncertainties

Industry and revenue

The industry in which the Company operates is subject to a number of industry-specific risks, including, but not limited to, rapidly changing technologies; significant numbers of new competitive entrants; dependence on key individuals; competition from similar products from larger companies; change in customer preferences; the need for the continued successful development, marketing, and selling of its products and services; and the need for positive cash flows from operations. The Company depends on one key product, "Ragnarok Online," for most of its revenues.

During the years ended December 31, 2012, 2013 and 2014, the Company generated 87%, 81% and 84% of its revenues from countries in Asia, respectively.

As of December 31, 2012, 2013, and 2014, GungHo Online Entertainment, Inc. and LG Electronics Inc. are customers whose related accounts receivable and total revenue exceeds 10% of the Company's total accounts receivable and total revenue, and the proportions are as follows :

2012

2013

2014

Country

Customer

Accounts

Revenues

Accounts

Revenues

Accounts

Revenues

Receivable

Japan

GungHo Online Entertainment, Inc.

Korea

LG Electronics Inc.

The amounts included within the accounts receivable balance as of December 31, 2014 are W1,325 million and W796 million from GungHo Online Entertainment, Inc. and LG Electronics Inc., respectively.

Concentrations of credit risk

Cash and cash equivalents and short-term financial instruments are potentially subject to concentration of credit risk. Cash and cash equivalents and short-term financial instruments are placed with several financial institutions, of which approximately 29.35% and 28.14% of such amounts are held at two financial institutions, respectively.

Revenue recognition

The Company recognizes revenue when persuasive evidence of an arrangement exists, the product or the service has been delivered or rendered, the price is fixed or determinable, and collection of the resulting receivable is reasonably assured.

The Company derives most of its revenues from online game subscription revenue mainly from Ragnarok Online paid by users in Korea, the United States and Canada, and royalties and license fees paid by the licensees of the Company in overseas markets.

Online games—subscription revenue

Players can access certain games free of charge, but may purchase game points to acquire in-game premium features. Subscription revenue consists of revenues from (i) micro-transactions, (ii) subscription fees from Internet cafés and (iii) premium services for individual PC users. Micro-transaction fees for consumable in-game items are deferred when such in-game items are purchased by users and recognized as revenue when the purchased in-game items are used in the games while those for permanent in-game items are recognized ratably as revenues over the estimated life cycle of game users. Micro-transaction fees for in-game items with limited time period are deferred and recognized as revenue in proportion to the number of days lapsed. All online game subscription fees and premium service fees are prepaid. Prepaid subscription fees from Internet cafés are deferred and recognized as revenue on a monthly basis based on actual hours used. Prepaid premium service fees from individual PC users are deferred and recognized as revenue on a monthly basis in proportion to the number of days lapsed.

Online games—royalties and license fees

The Company licenses the right to sell and distribute its games in exchange for an initial prepaid license fee and guaranteed minimum royalty payments. The prepaid license fee revenues are recorded as deferred revenue and recognized ratably over the license period. If license agreements are renewed upon expiration of their terms, renewed license fees are deferred and recognized ratably over the new license period.

The Company generally provides its licensees with minimal post-contract customer support on its software products, consisting of technical supports and occasional unspecified upgrades, or enhancements during the contract term. The estimated costs of providing such support are insignificant and sufficient vendor-specific evidence does not exist to allocate the revenue from software and related integration projects to the separate elements of such projects, therefore all license revenue is recognized ratably over the life of the contract.

The guaranteed minimum royalty payments are recorded as deferred revenue and recognized as the royalties are earned. In addition, the Company receives a royalty payment based on a specified percentage of the licensees' sales, including game item revenues. These royalties that exceed the guaranteed minimum royalty are recognized on a monthly basis, as the related revenues are earned by the licensees.

Mobile games and applications revenue

Mobile games and applications revenue consists of (i) revenues from micro-transactions and a proportion of the per-download fees that users pay in cases where the Company directly provides mobile games services to users, such as in Korea; (ii) license fees and/or guaranteed minimum royalty payments, and royalty revenues from the Company's licensees to which it licenses the right to market and distribute its mobile games in overseas countries; (iii) contract prices, which are related to various development services and products provided by the Company to third parties, such as developing games embedded in mobile phones, mobile applications, and sound for mobile phones and appliances; (iv) revenues from mobile games operation service for third parties; and (v) intellectual property royalty revenues from third parties that develop and provide services for mobile games based on the Company's original intellectual property.

Micro-transaction fees for consumable in-game items are deferred when such in-game items are purchased by users and recognized as revenue when the purchased in-game items are used in the games while those for permanent in-game items are recognized ratably as revenues over the estimated life cycle of game users. Per-download fees are recognized on a monthly basis as they are earned. License fees are deferred and recognized ratably as revenue over the license period and guaranteed minimum royalty payments are deferred and recognized as the relevant royalty is earned. Royalty revenues are based on an agreed percentage of each of the licensees' revenues based on the licensees' sales from mobile games. Contract prices are recognized when the products or services have been delivered or rendered and the customers can begin use in accordance with the contractual terms. Revenues from mobile games operation service are based on an agreed percentage of each of the licensors' revenues based on the licensor's sales from the mobile games the Company operates on their behalf and recognized on a monthly basis after the licensor confirms its revenues based on the licensor's sales from the relevant mobile games during the month. Intellectual property royalty revenues are recognized on a monthly basis.

Mobile application development service revenues are recognized by measuring progress-to-completion under the percentage-of-completion method. If the Company does not have a sufficient basis to measure progress towards completion, revenues are recognized when it receives final acceptance from the customer that the services have been completed.

Character merchandising, animation and other revenue

Character merchandising, animation and other revenue consist of revenues from sales of console games, game character merchandising, animation and other services, including sales of goods related to mobile phones and website development and operation services for third parties.

Revenues from sales of console games are derived from a specified percentage of the publisher's sales after deductibles, including payments to the platform holder and others, and recognized on a quarterly basis as they are earned by the publisher. Royalty payments from game character merchandising are recognized on a quarterly basis as they are earned by the licensee. Contract prices for the Company's services provided to third parties are recognized when the products or services have been delivered or rendered and the customers can begin their use in accordance with the contractual terms.

The Company also sells goods related to mobile phones, such as accessories and USB data cable or provides contracted services, which is recorded in other revenue. The Company records these sales of goods when delivery has occurred and collectability of the fixed or determinable sales price is reasonably assured.

Out-of-Period Adjustments in 2013

The accompanying 2013 consolidated statement of operations includes certain out-of-period adjustments primarily related to the understatement of revenues for in-game items of W981 million that were not properly deferred in fiscal year 2012. Management believes the impact of these items, both individually and in the aggregate, to the year ended December 31, 2013 and to prior years presented are not material.

Cash and cash equivalents

Cash equivalents consist of time deposits with original maturity of three months or less at the time of purchase.

Short-term financial instruments

Short-term financial instruments primarily include time deposits placed with financial institutions which have an original maturity greater than three months but less than one year.

Allowance for doubtful accounts

The Company maintains allowances for doubtful accounts receivable based upon the following information: an aging analysis of its accounts receivable balances, historical bad debt rates, repayment patterns, creditworthiness of its customers, and industry trend analysis.

The payment processing service providers are responsible for remitting to the Company the full subscription revenues generated in Korea after deducting their fixed service fees and charges, which range from approximately 1.4% to 15% and risk of loss or delinquencies are borne by such payment processing service providers.

Property and equipment

Property and equipment are stated at cost, less accumulated depreciation. Depreciation for property and equipment is computed using the straight-line method over the following estimated useful lives:

Computer and equipment

4 years

Furniture and fixtures

4 years

Software

3 years

Vehicles

4 years

Leasehold improvements are depreciated on a straight-line basis over the estimated useful life of the assets or the lease term, whichever is shorter.

Routine maintenance and repairs are charged to expense as incurred. Expenditures which enhance the value or extend the useful lives of the related assets are capitalized.

Depreciation for property and equipment is allocated to cost of revenue, selling, general and administrative expenses or research and development expenses.

Accounting for the impairment of long-lived assets

Definite-lived tangible and intangible assets are amortized over their estimated useful life according to the nature and characteristics of each asset. The Company continually evaluates the reasonableness of the useful lives of these assets.

The Company reviews property and equipment and other long-lived assets for impairment whenever events or changes in circumstances indicate that carrying value may not be recoverable in accordance with ASC 360, Property, Plant, and Equipment. When the aggregate of future cash flows (undiscounted and without interest charges) is less than the carrying value of the asset, an impairment loss is recognized based on the fair value of the asset.

Intangible assets

Capitalized software development costs—online game development costs

The Company capitalizes certain software development costs relating to online games that will be distributed through subscriptions or licenses. The Company accounts for software development costs in accordance with ASC 985, Costs of Software to be Sold, Leased, or Marketed. Software development costs incurred prior to the establishment of technological feasibility are expensed when incurred and are included in research and development expense. Once a software product has reached technological feasibility, then all subsequent software development costs for that product are capitalized until the product is commercially launched. Technological feasibility is evaluated on a product-by-product basis, but typically occurs when the online game has a proven ability to operate on a multiplayer level for a large number of users. Technological feasibility of a product encompasses both technical design documentation and game design documentation.

The Company amortizes capitalized software development costs relating to games and records such costs as a component of cost of revenues. Amortization is determined as the greater of the amount computed using the ratio of current gross revenues for a game to the total of current and anticipated future gross revenues for that game or the straight-line method amount over the remaining estimated economic life of the game. Amortization starts when a game is available for general release to public users. The Company continually evaluates the reasonableness of the economic life of the capitalized software development costs based on the average life cycle of the games whenever each new game is commercially launched or acquired.

Capitalized software development costs for games, net of accumulated amortization, at December 31, 2013 and 2014 were W12,543 million and W8,553 million, respectively. Amortization expense for the years ended December 31, 2012, 2013 and 2014 were W3,852 million, W4,613 million and W3,990 million, respectively.

The Company evaluates the recoverability of capitalized software development costs on a product-by-product basis. The recoverability of capitalized software development costs is evaluated based on the expected performance of the specific products to which the costs relate. Criteria used to evaluate expected product performance include: historical performance of comparable products using comparable technology; orders for the product prior to its release; and estimated performance of a sequel product based on the performance of the product on which the sequel is based. Capitalized costs for those products that are cancelled are expensed in the period of cancellation. In addition, an impairment loss shall be recorded when management's forecast for a particular game indicates that unamortized capitalized costs exceed the net realizable value of that asset. Significant management judgments and estimates are utilized in the assessment of when technological feasibility is established, as well as in the ongoing assessment of the recoverability of capitalized costs. In evaluating the recoverability of capitalized costs, the assessment of expected product performance utilizes forecasted sales amounts and estimates of additional development costs to be incurred. If revised forecasted or actual product sales are changed from the original forecasted amounts utilized in the initial recoverability analysis, the actual impairment charge may be larger than originally estimated in any given period.

Impairment losses on capitalized software development cost for games for the years ended December 31, 2013 and 2014 were W534 million and nil, respectively.

Capitalized software development costs—website and internal use software development costs

The Company accounts for website and internal use software development cost in accordance with ASC 340, Internal Use Software. For website and internally used software development costs, the Company expenses all costs that are incurred in connection with the planning and implementation phases of development and costs that are associated with repair or maintenance of the existing websites and software. Costs incurred in the development phase are capitalized and amortized over the estimated product life.

Capitalized software development costs for website and internal use software at December 31, 2013 and 2014 were W90 million and nil, respectively.

Impairment losses on capitalized software development cost for website and internal use software for the years ended December 31, 2013 and 2014 were W245 million and nil, respectively.

Research and development costs

Research and development expenses consist primarily of payroll and other overhead expenses which are all expensed as incurred (i) until technological feasibility of an online game is reached or (ii) until commercial operation of a mobile game commences. Once technological feasibility of an online game is reached, these costs are capitalized and, once commercial operation commences, amortized as cost of revenues.

Goodwill

Goodwill is accounted for under ASC 350, Intangibles—Goodwill and Other, which requires that goodwill and indefinite-lived intangible assets are not amortized, but instead be tested at least annually for impairment, and more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of these assets below their carrying amount. Such an event would include unfavorable variances from established business plans, significant changes in forecasted results or volatility inherent to external markets and industries, which are periodically reviewed by the Company's management.

Specifically, qualitative factors are assessed to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. In evaluating whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the relevant events and circumstances are assessed. If, after assessing the totality of events or circumstances, it is determined that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then a two-step process of the goodwill impairment test is not performed. If it is determined that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then the first step of the two-step goodwill impairment test is performed. The first step of the goodwill impairment test is used to identify potential impairment by comparing the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of a reporting unit exceeds its fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. The second step of the goodwill impairment test compares the implied fair value of the reporting unit's goodwill with the carrying amount of that goodwill. If the carrying amount of the reporting unit's goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized immediately in an amount equal to that excess. The goodwill impairment test is carried out at the reporting unit, which is either an operating division or a subdivision, for which stand-alone financial information is available to the management personnel of such division or subdivision for evaluating operating results.

When performing goodwill impairment testing, the fair values of reporting units are determined based on valuation techniques using the best available information, primarily discounted cash flow projections. The Company makes significant assumptions and estimates about the extent and timing of future cash flows and discount rates that represent unobservable inputs into valuation methodologies.

Acquired in-process research and development ("IPR&D") technology

Acquired IPR&D assets are considered indefinite-lived intangible assets and are not subject to amortization. An IPR&D asset must be tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test consists of a comparison of the fair value of the IPR&D asset with its carrying amount. If the carrying amount of the IPR&D asset exceeds its fair value, an impairment loss must be recognized in an amount equal to that excess. After an impairment loss is recognized, the adjusted carrying amount of the IPR&D asset will be its new accounting basis. Subsequent reversal of a previously recognized impairment loss is prohibited. The initial determination and subsequent evaluation for impairment of the IPR&D asset requires management to make significant judgments and estimates. Once an IPR&D project has been completed, the useful life of the IPR&D asset is determined and amortized accordingly. If an IPR&D project has been abandoned, it is immediately expensed.

The Company's intangible assets other than capitalized software development costs and goodwill are remeasured at fair value only if an impairment charge is recognized. The Company uses unobservable inputs to the valuation methodologies that were significant to the fair value measurements, and the valuations required management judgment due to the absence of quoted market prices.

Advertising

The Company expenses advertising costs as incurred. Advertising expense was W4,585 million, W2,852 million and W1,614 million for the years ended December 31, 2012, 2013 and 2014, respectively.

Accrued severance benefits and pension plan

Employees and directors with one year or more of service are entitled to receive a lump-sum payment upon termination of their employment with the Company based on the length of service and rate of pay at the time of termination. Accrued severance benefits are estimated assuming all eligible employees were to terminate their employment at the balance sheet date in compliance with relevant laws in Korea. The annual severance benefits expense charged to operations is calculated based upon the net change in the accrued severance benefits payable at the balance sheet date based on the guidance of ASC 715, Compensation—Retirement Benefits.

Gravity and NeoCyon introduced a defined contribution pension plan in 2005 and 2011, respectively, and provide an individual account for each participant. A plan's defined contributions to an individual's account are to be made for periods in which that individual renders services, the net pension cost for a period shall be the contribution called for in that period.

Foreign currency translation

The Korean parent company and its subsidiaries use their local currencies as their functional currencies. The financial statements of the subsidiaries in functional currencies other than the Korean Won are translated into the Korean Won in accordance with ASC 830, Foreign Currency Matters. All assets and liabilities of the foreign subsidiaries are translated into the Korean Won at the exchange rate in effect at the end of the period, and capital accounts are determined to be of a permanent nature and are therefore translated using historical exchange rates. Revenues and expenses are translated at average exchange rates during the period. The effects of foreign currency translation adjustments are reflected in the cumulative translation adjustment account, reported as a separate component of comprehensive income in shareholders' equity.

Foreign currency transactions

Net gains and losses resulting from foreign exchange transactions are included in foreign currency income (losses) in the consolidated statements of comprehensive loss.

Income taxes

The Company accounts for income taxes under the provisions of ASC 740, Income Taxes. Under ASC 740, income taxes are accounted for under the asset and liability method. Deferred income taxes are determined based upon differences between the financial reporting and tax bases of assets and liabilities at currently enacted statutory tax rates for the years in which the differences are expected to reverse.

A valuation allowance is provided on deferred income tax assets to the extent that it is more likely than not that such deferred income tax assets will not be realized. The total income tax provision includes current tax expenses under applicable tax regulations and the change in the balance of deferred income tax assets and liabilities.

The Company follows ASC 740, Income Taxes, which prescribes a recognition threshold and measurement attribute for tax positions taken or expected to be taken in a tax return. This standard also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The evaluation of a tax position in accordance with this standard is a two-step process. In the first step, recognition, the Company determines whether it is more likely than not that a tax position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The second step addresses measurement of a tax position that meets the more-likely-than-not criteria. The tax position is measured at the largest amount of benefit that has a likelihood of greater than 50 percent of being realized upon ultimate settlement. Differences between tax positions taken in a tax return and amounts recognized in the financial statements will generally result in (a) an increase in a liability for income taxes payable or a reduction of an income tax refund receivable, (b) a reduction in a deferred income tax asset or an increase in a deferred income tax liability or (c) both (a) and (b). Interest and penalty recognized related to uncertain tax positions are recorded as a component of income tax expense.

Fair Value Measurements

Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset and liability. As a basis for considering such assumptions, a fair value hierarchy has been established that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of the fair value hierarchy are as follows:

•

Level 1—Quoted prices in active exchange markets involving identical assets or liabilities.

•

Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

•

Level 3—Inputs that are generally unobservable and typically reflect management estimates of assumptions and inputs using a binomial lattice model as the valuation technique.

Fair Value of Financial Instruments

ASC Topic 825, Financial Instruments, requires disclosure of the fair value of financial instruments for which the determination of fair value is practicable. The fair values of the Company's cash and cash equivalents, short-term financial instruments, accounts receivable and other current assets, accounts payable and other current liabilities approximate carrying values due to the short maturity of these instruments.

Earnings (losses) per share

Basic earnings (losses) per share is computed by dividing net income (loss) attributable to common shareholders by the weighted average number of common shares outstanding for all periods. Diluted earnings (losses) per share is computed by dividing net earnings (losses) by the weighted average number of common shares outstanding, increased by common stock equivalents. However, for each of three years in the period ended December 31, 2014, there has been no common stock equivalent.

Revision of prior periods

In prior periods, the Company presented the net change in its short term financial instruments as a single line item within the investing activities section of the accompanying consolidated statements of cash flows. Beginning in 2014, the Company chose to correct its presentation of increase and decrease in short term financial instruments on a gross basis. The investing activities section of the accompanying consolidated statements of cash flows for the 2012 and 2013 periods have been revised accordingly to reflect his immaterial error, which did not affect cash balances, total investing cash flows or any other subtotal on the accompanying consolidated statements of cash flows.

Recent accounting pronouncements

In March 2013, the FASB issued ASU 2013-05, Foreign Currency Matters, to clarify the accounting for the release of a cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2013. The adoptions of ASU 2013-05 did not have a material impact on the Company's consolidated financial statements.

In July 2013, the FASB issued ASU 2013-11, Income Taxes, which requires the presentation of certain unrecognized tax benefits as reductions to deferred tax assets rather than as liabilities in the Consolidated Balance Sheets when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The new standard requires adoption on a prospective basis in the first quarter of 2015; however, early adoption is permitted. The Company does not anticipate that this adoption will have a significant impact on its financial position, results of operations, or cash flows.

In May 2014, the FASB and International Accounting Standards Board ("IASB") issued their converged standard on revenue recognition. The objective of the revenue standard ASU 2014-09, Revenue from Contracts with Customers (Topic 606) is to provide a single, comprehensive revenue recognition model for all contracts with customers to improve comparability within industries, across industries, and across capital markets. The revenue standard contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. For public companies, the revenue standard is effective for the first interim period within annual reporting periods beginning after December 15, 2016 and early adoption is not permitted. In April 2015, the FASB tentatively decided to defer one year the effective date of new revenue standard for public entities reporting under U.S. GAAP. If the changes in the proposed ASU are finalized to extend by a year, the standard will be effective for annual reporting periods (including interim reporting period within those periods) beginning after December 15, 2017. The standard provides for either full retrospective adoption or a modified retrospective adoption by which it is applied only to the most current period presented. The Company is in the process of evaluating the impact of the standard on its consolidated financial statements.

In August, 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements-Going Concern, which provides guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The new standard requires management to perform interim and annual assessments of an entity's ability to continue as a going concern within one year of the date of issuance of the entity's financial statements (or within one year after the date on which the financial statements are available to be issued, when applicable). Further, an entity must provide certain disclosures if there is "substantial doubt about the entity's ability to continue as a going concern." The ASU is effective for annual periods ending after December 15, 2016, and interim periods thereafter. Early adoption is permitted. The ASU shall be applied at the effective date, and the Company is in the process of evaluating the impact of the standard on its consolidated financial statements.

Convenience_Translation_into_U

Convenience Translation into United States Dollar Amounts	12 Months Ended
Convenience Translation into United States Dollar Amounts	Dec. 31, 2014
Convenience Translation into United States Dollar Amounts
Convenience Translation into United States Dollar Amounts
	3. Convenience Translation into United States Dollar Amounts
	The Company reports its consolidated financial statements in Korean Won. The United States dollar ("US dollar") amounts disclosed in the accompanying consolidated financial statements are presented solely for the convenience of the reader, and have been converted at the rate of 1,090.89 Korean Won to one US dollar, which is the noon buying rate of the U.S. Federal Reserve Board in effect on December 31, 2014. Such translations should not be construed as representations that the Korean Won amounts represent, have been, or could be, converted into US dollars at that or any other rate.

Restricted_Assets

Restricted Assets	12 Months Ended
Restricted Assets	Dec. 31, 2014
Restricted Assets
Restricted Assets
	4. Restricted Assets
	As of December 31, 2014, the Company has no restricted long-term financial instrument. As of December 31, 2013, one of the Company's subsidiaries, Gravity Games Corporation has a restricted long-term financial instrument amounting to W5 million provided to a financial institution as a guarantee for the issuance of credit card.

Allowance_for_doubtful_account

Allowance for doubtful accounts	12 Months Ended
Allowance for doubtful accounts	Dec. 31, 2014
Allowance for doubtful accounts
Allowance for doubtful accounts
	5. Allowance for doubtful accounts
	Changes in the allowance for accounts receivable for the years ended December 31, 2012, 2013 and 2014 are as follows:

		2012			2013		2014
		(In millions of Korean Won)
	Balance at beginning of year	W	8		W	9	W	32
	Provision for allowances		6			23		16
	Reversal of previous provision		—			—		—
	Write-offs		(5	)		—		(13	)

	Balance at end of year	W	9		W	32	W	35


	Changes in the allowance for loan receivable for the years ended December 31, 2012, 2013 and 2014 are as follows:

		2012			2013		2014
		(In millions of Korean Won)
	Balance at beginning of year	W	1,000		W	1,200	W	1,200
	Provision for allowances		200			—		—
	Reversal of previous provision		—			—		—
	Write-offs		—			—		—

	Balance at end of year	W	1,200		W	1,200	W	1,200


	In 2011, the Company amended the loan agreement with Naru Entertainment Corporation ("Naru") so that W300 million of the loan should be paid by Naru in 2012 from funding provided by a third party, and the rest of the loan, amounting to W1,000 million, and its accrued interest at 8% annually, would be paid by revenue sharing payments in the future.
	Original long-term loans receivable due from Naru were W1,200 million. As Naru reported the closure of business during 2012, the Company reserved full amounts of due from Naru as bad debt reserve for the year ended December 31, 2012.

Equity_Method_Investment

Equity Method Investment	12 Months Ended
Equity Method Investment	Dec. 31, 2014
Equity Method Investment
Equity Method Investment
	6. Equity Method Investment
	The Company's equity income (loss) on investments is comprised of the following for the years ended December 31:

		2012			2013			2014
		(In millions of Korean Won)
	Animation Production Committee	W	—		W	—		W	—
	Online Game Revolution Fund No. 1		(51	)		(18	)		—
	Gravity EU SAS		(257	)		—			—
	Ingamba LLC		(25	)		—			—

	Total equity income (loss) on investments	W	(333	)	W	(18	)	W	—


	Animation Production Committee
	In April 2004, the Company's subsidiary, Gravity Entertainment Corporation, invested ¥123 million (W1,358 million) for a 30% interest in "Animation Production Committee," a joint venture, which was incorporated in Japan to produce an animation of Ragnarok Online. The investment was accounted for under the equity method of accounting. In 2006, the Company discontinued applying the equity method as the investment was reduced to zero. The Company does not have any contractual obligation to fund the further losses of the joint venture.
	Online Game Revolution Fund No. 1
	In 2005, the Company entered into a limited liability partnership agreement to invest the committed amount of ¥1,000 million (W8,713 million) in Online Game Revolution Fund No. 1, a limited liability partnership (the "Partnership"). In 2005, 2006, 2008 and 2009, the Company invested ¥100 million (W869 million), ¥150 million (W1,245 million), ¥642 million (W6,054 million) and ¥18 million (W229 million), respectively. As of December 31, 2012, the Company, SoftBank Corporation and GungHo Online Entertainment, Inc. ("GungHo") had interests of 16.39%, 49.18% and 8.20%, respectively, in Online Game Revolution Fund No. 1. The Company had 16.39% interest in the Partnership as a limited partner, and could not significantly influence the Partnership's operation and financial policies per the limited liability partnership agreement. However, the Company accounted for the investment under the equity method of accounting in accordance with ASC 323, Investment—Equity Method and Joint Ventures, which requires the use of the equity method unless the investors' interest is so minor that the limited partner may have virtually no influence over the Partnership's operating and financial policies. The Company recorded the losses of the Partnership as equity amounting to W51 million and W18 million in 2012 and 2013, respectively.
	This Partnership was operated in Japan and the objective of the Partnership was to invest in business relating to online games for the benefit of all the partners. The Partnership invested in eight games since its operations began.
	On December 31, 2010, the term of the Partnership expired and it was liquidated on June 18, 2013. The Company received liquidation proceeds amounting to W579 million and the entire accumulated other comprehensive income balance of W1,234 million that relates to the Partnership was reclassified to other income, which was partially offset by the difference between the liquidation proceeds and the carrying amount of the Partnership.
	Ingamba LLC
	In June 2010, the Company invested Russian Ruble 13 million (W502 million), which represented 25% of Ingamba LLC's total capital, in order to distribute the Company's games in Russia. The investment in Ingamba LLC was accounted for as an equity method investment. The Company recorded gain on investments as equity amounting to W13 million in 2010 and loss on investments as equity amounting to W134 million and W25 million in 2011 and 2012, respectively. Ingamba LLC was disposed for $800 thousand (W851 million) in May 2012 and the related gain on disposal of equity investments of W528 million was recognized.
	Gravity EU SAS
	Gravity EU SAS was accounted for by using the equity method since August 2011, due to a dilution of the Company's interest in Gravity EU SASU, the Company's ownership of the investee decreased from 100% to 25% and recognized equity loss on investments amounting to W257 million in 2012. In 2013, the Company discontinued applying the equity method as the investment was reduced to zero. The Company did not have any contractual obligation to fund further losses of Gravity EU SAS. Gravity EU SAS was disposed in November 2014 and the Company recognized the gain on disposition of investments amounting to W3 million.

Fair_value_of_financial_instru

Fair value of financial instruments	12 Months Ended
Fair value of financial instruments	Dec. 31, 2014
Fair value of financial instruments
Fair value of financial instruments
	7. Fair value of financial instruments
	The Company adopted ASC 820, Fair Value Measurements and Disclosures effective January 1, 2009, for all financial assets and liabilities as required. This statement defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value, the Company considers the principal or most advantageous market in which the Company would transact, and the Company considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions and risk of non-performance.
	The Company's financial instruments are measured and recorded at fair value, except for cost method investments. The Company's non-financial assets, such as goodwill, intangible assets, and property and equipment, are measured at fair value when there is an indicator of impairment and recorded at fair value only when an impairment charge is recognized.
	As discussed in Note 2, the Company adopted ASC 825, which permits entities to choose to measure financial instruments and certain other items at fair value and consequently report unrealized gains and losses on these items in earnings. ASC 825 was effective for the Company's fiscal year beginning January 1, 2009. The Company has elected the fair value option to measure its short-term available-for-sale investments.
	The estimated fair value of financial assets is determined by the Company, using available market information and valuation methodologies considered to be appropriate. However, considerable judgment is required in interpreting market data to develop the estimates of fair value.
	As of December 31, 2013 and 2014, the Company's financial assets consist of cash, short-term financial instruments, accounts receivable, other current assets, accounts payable, and other current liabilities. The Company's carrying amounts of cash and cash equivalents, short-term financial instruments, accounts receivable, other current assets, accounts payable and other current liabilities approximate fair value due to the short-term nature of these instruments.

Property_and_Equipment_Net

Property and Equipment, Net	12 Months Ended
Property and Equipment, Net	Dec. 31, 2014
Property and Equipment, Net
Property and Equipment, Net
	8. Property and Equipment, Net
	Property and equipment as of December 31, 2013 and 2014 consist of the following:

		2013			2014
		(In millions of Korean Won)
	Computer and equipment	W	7,212		W	7,050
	Furniture and fixtures		2,149			1,368
	Vehicles		78			80
	Capital lease assets		1,287			1,340
	Leasehold improvements		746			964
	Software externally-purchased		11,898			10,280

			23,370			21,082
	Less accumulated depreciation		(21,055	)		(19,869	)

		W	2,315		W	1,213


	Depreciation expenses for the years ended December 31, 2012, 2013 and 2014 were W1,903 million, W1,852 million and W1,578 million, respectively.

Goodwill_and_other_intangible_

Goodwill and other intangible assets	12 Months Ended
Goodwill and other intangible assets	Dec. 31, 2014
Goodwill and other intangible assets
Goodwill and other intangible assets
	9. Goodwill and other intangible assets
	Capitalized software development cost and other intangible assets as of December 31, 2013 and 2014 consist of the following:

		At December 31, 2013											At December 31, 2014
		Gross			Accumulated			Accumulated			Net		Gross		Accumulated			Accumulated			Net
		Carrying			Amortization			Impairment			Carrying		Carrying		Amortization			Impairment			Carrying
		Amount									Amount		Amount								Amount
		(In millions of Korean Won)
	Capitalized software development cost	W	29,558		W	(16,236	)	W	(779	)	W	12,543	W	29,558	W	(20,226	)	W	(779	)	W	8,553
	Acquired intangible assets
	Product technology		18,536			(12,503	)		(6,033	)		—		18,599		(12,523	)		(6,033	)		43
	IPR&D technology		8,503			—			(8,503	)		—		8,503		—			(8,503	)		—
	Trademarks		549			(380	)		(3	)		166		579		(409	)		(3	)		167
	Others		3,078			(1,089	)		(1,989	)		—		3,078		(1,089	)		(1,989	)		—

	Total	W	60,224		W	(30,208	)	W	(17,307	)	W	12,709	W	60,317	W	(34,247	)	W	(17,307	)	W	8,763


	The Company capitalized W2,303 million, W548 million and nil of R&D costs in accordance with ASC 985, Costs of Software to be Sold, Leased, or Marketed in 2012, 2013 and 2014, respectively.
	All of the Company's intangible assets other than goodwill and IPR&D are subject to amortization. No significant residual value is estimated for the intangible assets. Aggregate amortization expenses for intangible assets for the years ended December 31, 2012, 2013 and 2014 were W6,479 million, W5,980 million and W4,039 million, respectively.
	The Company recognized impairment loss of W779 million for capitalized software development cost (Ragnarok Odyssey Ace, Ragnarok Online Guild Masters, and Game Station, a mobile game service platform) and W3 million for trademarks in 2013. The Company recognized impairment losses of W2,225 million and W1,424 million for product technology (Dragonica and Jeweled Planet) in 2012 and 2013, respectively. Impairment charges amounting to W227 million and W963 million for other intangible assets were recognized in 2012 and 2013, respectively. Additionally, the Company recognized an impairment loss of W8,503 million for IPR&D technology (East Road) in 2012.
	Despite the Company's various efforts, a significant decrease in revenue of Dragonica was noted in the third quarter of 2012 and fourth quarter of 2013, which were trigger events for the impairment analysis of Dragonica. As the carrying amount of Dragonica exceeded its fair value, Dragonica was considered fully impaired. The Company recognized impairment losses of W1,424 million for Dragonica in 2013.
	Maestia was commercially launched in August 2012, but did not gain popularity in market. As the carrying amount of Maestia exceeded its fair value, Maestia was considered fully impaired. An impairment charge amounting to W237 million was recognized in 2013.
	Requiem Returns W was commercially launched in June 2013, but did not gain popularity in market. As the carrying amount of Requiem Returns W exceeded its fair value, Requiem Returns W was considered fully impaired. An impairment charge amounting to W382 million was recognized in 2013.
	Steal Fighter was commercially launched in February 2013, but did not gain popularity in market. The Company ceased offering commercial service in February 2014, which was a triggering event for the impairment of Steal Fighter. As the carrying amount of Steal Fighter exceeded its fair value, Steal Fighter was considered fully impaired. An impairment charge amounting to W344 million was recognized in 2013.
	In addition, the Company decided to cease its development of East Road due to the low likelihood that the game will be commercially successful, which triggered impairment of East Road in 2012. As the carrying amount of East Road exceeded its fair value, East Road was considered fully impaired in 2012. The Company recognized an impairment loss of W8,503 million. An impairment loss of W227 million was recognized for other intangible assets due to the significant decrease in the revenue related to such assets in 2012.
	The Company developed Ragnarok Odyssey Ace, a PS VITA game, in a joint effort with GungHo Online Entertainment, Inc. and commercialized the game in August 2013. The carrying amount of Ragnarok Odyssey Ace, a PS VITA game, exceeded the net realizable value of that asset and it was a trigger event for the impairment analysis of Ragnarok Odyssey Ace, a PS VITA game. The Company recognized impairment losses of W381 million and fully wrote it off due to impairment in 2013.
	The Company developed Ragnarok Online Guild Masters and commercialized the game in October 2011, but did not gain popularity in market. The Company ceased offering commercial service in March 2013, which was a triggering event for the impairment of Ragnarok Online Guild Masters. As the carrying amount of Ragnarok Online Guild Masters exceeded the net realizable value of that asset, Ragnarok Online Guild Masters was considered fully impaired. An impairment charge amounting to W154 million was recognized in 2013.
	The Company developed Game Station, a mobile game service platform, but the carrying amount of Game Station, a mobile game service platform, exceeded the net realizable value of that asset. An impairment charge amounting to W244 million was fully recognized in 2013, as the carrying amount of Game Station, a mobile game service platform, exceeded its present value of the future cash flows expected to be derived.
	Changes in goodwill balances for the years ended December 31, 2012, 2013 and 2014 are as follows:

		2012			2013			2014
		(In millions of Korean Won)
	Balance at beginning of the year
	Goodwill	W	8,232		W	8,232		W	8,232
	Accumulated impairment losses		(755	)		(4,369	)		(7,022	)

			7,477			3,863			1,210

	Impairment losses		(3,614	)		(2,653	)		—
	Balance at end of the year
	Goodwill		8,232			8,232			8,232
	Accumulated impairment losses		(4,369	)		(7,022	)		(7,022	)

		W	3,863		W	1,210		W	1,210


	We performed our annual impairment test for goodwill at our reporting unit using data as of December 31, 2014. In performing the valuations, we used cash flows, which reflected management's forecasts and discount rates which reflect the risks associated with the current market. Prior to performing the two-step impairment test for goodwill, we performed a qualitative assessment for the reporting unit.
	In 2014, we concluded not to recognize impairment loss for goodwill as the fair value of the business reporting unit was determined to be greater than its book value.
	In performing the annual impairment test for goodwill for Gravity Games in
	2013, the fair value of the business reporting unit Gravity Games was determined to be lower than its book value. Therefore, during the fiscal year ended December 31, 2013, we recorded impairment losses of W2,653 million in reporting unit of Gravity Games due to the overall decline in the fair value of the reporting unit and uncertainty in the future. The fair value of the reporting unit was estimated principally using the expected present value of the future cash flows. As a result of impairment, the goodwill for the reporting unit of Gravity Games Corporation was fully written off as of December 31, 2013.
	The impairment was due to declines in projected future revenues as compared to the projections of revenue used for the 2012 annual impairment test. During the fiscal year ended December 31, 2012, the Company recorded an impairment loss of W3,614 for the Gravity Games Corporation reporting unit due to the decline in the fair value of the reporting unit and a decline in projected future revenues.
	Expected amortization expenses related to the current net carrying amount of intangible assets are as follows:

		(In millions of Korean Won)
	2015		3,982
	2016		3,982
	2017		683
	2018		16
	2019 and thereafter		100

			8,763

Accrued_Severance_Benefits

Accrued Severance Benefits	12 Months Ended
Accrued Severance Benefits	Dec. 31, 2014
Accrued Severance Benefits.
Accrued Severance Benefits
	10. Accrued Severance Benefits
	Changes in accrued severance benefits for the years ended December 31, 2012, 2013 and 2014 are as follows:

		2012			2013			2014
		(In millions of Korean Won)
	Balance at beginning of year	W	916		W	683		W	263
	Provisions for severance benefits		96			67			(60	)
	Severance payments		(190	)		(444	)		(100	)
	Terminated but not yet paid		(139	)		(43	)		—

	Balance at end of year	W	683		W	263		W	103


	In 2005, Gravity introduced a defined contribution pension plan ("Pension Plan") in accordance with the Employee Benefit Security Act of Korea and entered into a nonparticipating defined contribution insurance contract with a life insurance company. Gravity's contribution to the Pension Plan was W1,190 million, W1,114 million and W1,227 million in 2012, 2013 and 2014, respectively. In 2011, NeoCyon, Inc. also introduced a pension plan. W390 million, W467 million, and W569 million were recognized as a cost for such pension plan in 2012, 2013 and 2014, respectively. For the contributions already paid, Gravity and NeoCyon will have no legal or constructive obligation to pay further amounts and therefore no severance benefits were accrued. The accrued severance benefits recorded at December 31, 2014 relate to the other employees who have not been included in a Pension Plan.

Commitments_and_Contingencies

Commitments and Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies.

Commitments and Contingencies

11. Commitments and Contingencies

As of December 31, 2014, the Company has outstanding licensing agreements for Ragnarok Online with 9 companies internationally. Based on the agreements with the licensees, the Company receives certain amounts (16% to 40%) of each licensee's revenues as royalty.

As of December 31, 2014, the Company has contracts for the exclusive rights of Ragnarok Online II game distribution and sales with GungHo Online Entertainment, Inc. in Japan, AsiaSoft Corporation Public Co., Ltd. in Thailand and in Vietnam and PT. Lyto Datarindo Fortuna in Indonesia. Additionally the Company entered into the contract with Shanghai The Dream Square Network Technology Co., Ltd. in China in January 2015. The contract with Level up! Interactive S.A. in Brazil and the contract with Level Up! Inc. in Philippines were terminated in April 2014. Also, the contract with Asiasoft Online Pte. Ltd., in Singapore and Malaysia was terminated in September 2014. The contract periods of these license agreements range from one to three years after commercialization in each geographical location.

As of December 31, 2013, the license fee the Company has committed to pay upon the commercial launches of the licensed games were W200 million and W450 million for Steal Fighter and a Web browser-based game, respectively. But the agreement for Steal Fighter and a Web browser-based game were terminated in January 2014 and June 2014, respectively.

The Company entered into various capital lease agreements to utilize game servers. The Company made principal and interest payments of $203 thousand (W216 million) and $36 thousand (W39 million) in 2012 and $243 thousand (W256 million) and $22 thousand (W23 million) in 2013, respectively. In 2014, the Company made principal and interest payments of $137 thousand (W144 million) and $11 thousand (W11 million) in 2014, respectively.

Future minimum lease payments for the leases as of December 31, 2014, are as follows:

2015

2016

Principal

Interest

Principal

Interest

Capital lease

107

—

117

—

In addition to the capital lease above, the Company leases certain properties which are considered to be operating leases. Rental expenses incurred under these operating leases were W2,796 million, W2,342 million and W2,324 million for the years ended December 31, 2012, 2013 and 2014, respectively. The Company entered into an office lease agreement with Korea Software Industry Promotion Agency in 2008 and recorded a guarantee deposit of W905 million as of December 31, 2014.

Future minimum rental payments for the operating leases as of December 31, 2014, are as follows:

(In millions of Korean Won)

2015

1,671

2016

1,586

3,257

Litigation

In April 2009, the Company repatriated W1,820 million ($1.4 million) from Gravity Middle East & Africa FZ-LLC ("ME&A"), which was the primarily remaining net assets of ME&A. ME&A has been in the process of liquidation since September 2008. In August 2010, the director and manager of ME&A, as a representative of ME&A, filed a lawsuit against the Company and some of its directors and officers on the subject of them being accused of the repatriation of ME&A claiming an aggregate of W1,628 million (AED 5 million and related interest plus litigation costs). In November 2011, the case was decided in favor of the plaintiff and the Company filed an appeal with the Seoul High Court and paid a deposit in court amounting to W4,140 million to proceed with the appeals against the dismissal of the case regarding the repatriation of capital funds from ME&A. The court ruled partially in favor of the plaintiff in December 2012. The Company filed a final appeal in December 2012 and the plaintiff filed a final appeal in January 2013 with the Supreme Court of Korea with additional deposit in court of W130 million. In November 2014, the case was closed as a result of the settlement with the plaintiff and the deposit in court amounting W4,270 million was fully refunded to the Company.

In May 2010, former executive filed another lawsuit claiming employment termination without cause, amounting to W50 million. The case was dismissed and the plaintiff filed an appeal with the Seoul High Court in April 2011. The Court dismissed the plaintiff's appeal in March 2013 and the plaintiff filed a final appeal with the Supreme Court of Korea in April 2013. The Supreme Court of Korea ceased to hear such appeals and ruled such appeals dismissed in July 2013.

Furthermore, in June 2011, the former executive filed another lawsuit against the Company claiming nullity of dismissal and seeking remuneration, amounting to W110 million due regarding the remainder of his term. In June 2012, the case was decided in favor of the Company and the plaintiff filed an appeal with the Seoul High Court. In January 2013 the appeal was withdrawn by the plaintiff.

Shareholders_Equity

Shareholders' Equity	12 Months Ended
Shareholders' Equity	Dec. 31, 2014
Shareholders' Equity
Shareholders' Equity
	12. Shareholders' Equity
	As of December 31, 2014, Gravity is authorized to issue a total of 40 million shares with a par value of W500 per share, in registered form, consisting of common shares and non-voting preferred shares. Of this authorized amount, Gravity is authorized to issue up to 2 million non-voting preferred shares. Under the articles of incorporation, holders of non-voting preferred shares are entitled to receive dividends of not less than 1% and up to 15% of the par value of such shares, the exact rate to be determined by Gravity's Board of Directors at the time of issuance, provided that the holders of preferred shares are entitled to receive dividend at a rate not lower than that determined for holders of common shares. Gravity does not have any non-voting preferred shares outstanding.
	As of December 31, 2014, the Company had a total of 6,948,900 common shares issued and outstanding. All of the issued and outstanding shares are fully paid and are registered.

Loss_Per_Share

Loss Per Share	12 Months Ended
	Dec. 31, 2014
Earnings (losses) Per Share
Loss Per Share
	13. Loss Per Share
	The components of basic and diluted losses per share are as follows:

		2012			2013			2014
		(In millions of Korean Won,
		except per share data)
	Net loss available for common shareholders (A)	W	(12,224	)	W	(18,588	)	W	(20,907	)
	Weighted average outstanding shares of common shares (B)		6,948,900			6,948,900			6,948,900

	Loss per share Basic and diluted (A/B)	W	(1,759	)	W	(2,675	)	W	(3,009	)

Income_Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2014
Income Taxes
Income Taxes
	14. Income Taxes
	Income tax expenses for the years ended December 31, 2012, 2013 and 2014 consist of the following:

			2012			2013			2014
			(In millions of Korean Won)
	Loss before income taxes
	Domestic		W	(16,761	)	W	(13,403	)	W	(9,415	)
	Foreign			(862	)		(1,222	)		(1,437	)

				(17,623	)		(14,625	)		(10,852	)

	Current income taxes
	Domestic			3,715			2,634			1,473
	Foreign			4			—			—

				3,719			2,634			1,473

	Deferred income taxes (benefit)
	Domestic			(1,135	)		2,474			8,674
	Foreign			—			—			—

				(1,135	)		2,474			8,674

	Total income tax expenses		W	2,584		W	5,108		W	10,147


	Income taxes recognized directly in other comprehensive income for the years ended December 31, 2012, 2013 and 2014 are W104 million, W17 million and W68 million, respectively.
	The tax effects of temporary differences that give rise to significant portions of the deferred income tax assets and deferred income tax liabilities as of December 31, 2013 and 2014 are as follows:

			2013			2014
			(In millions of Korean Won)
	Deferred tax assets
	Accrued expense		W	294		W	269
	Allowance for doubtful			1,148			1,201
	Investments in subsidiaries and equity method investees			232			231
	Depreciation and amortization			743			269
	Deferred revenue			934			578
	Provisions for severance benefits			15			—
	Net operation loss carryforwards			7,085			10,882
	Foreign tax credit carryforwards			19,441			13,901
	Tax credit carryforwards for research and human resource development			3,027			3,507
	Tax credit carryforwards for social insurance for employment increase			78			70
	Others			106			105

	Total deferred tax assets			33,103			31,013
	Less valuation allowance			(24,352	)		(30,902	)

			W	8,751		W	111


	Deferred tax liabilities
	Accrued income		W	80		W	34
	Investments in subsidiaries and equity method investees			65			77

	Total deferred tax liabilities			145			111
	Net deferred tax assets		W	8,606		W	—


	Reported as
	Current portion of deferred income tax assets		W	1,433		W	—
	Non-current deferred income tax assets		W	7,173		W	—
	Deferred income tax assets are recognized only to the extent that realization of the related tax benefit is more likely than not. Realization of the future tax benefits related to the deferred income tax assets is dependent on many factors, including the Company's ability to generate taxable income within the period during which the temporary differences reverse, the outlook for the economic environment in which the Company operates, and the overall future industry outlook.
	In assessing the realizability of deferred income tax assets, management considered whether it was more likely than not that some portion or all of the deferred income tax assets would not be realized. In particular, a significant portion of the tax credit carryforwards is expected to expire if the Company does not generate sufficient taxable income in Korea. The ultimate realization of deferred income tax asset is dependent upon the generation of future taxable income during the periods in which those temporary differences became deductible. Management considered the scheduled reversal of deferred tax liabilities, uncertainty in the future taxable income, the tax structure of the Company and tax planning strategies in making this assessment. In 2013, based on the level of historical taxable income and the future taxable income under the Company's business plan over the periods in which the deferred tax assets were deductible, management believed it was more likely than not that W2,642 million or 13% of the deferred tax assets from tax credit carry forwards is realizable for Gravity. However, in 2014, management believed it was more likely than not that Gravity and certain subsidiaries could not realize the benefits of these deductible differences, available loss carryforwards and tax credit carryforwards, and recognized full allowances from deferred income tax assets.
As of December 31, 2014, Gravity Co., Ltd. in Korea had temporary differences of W9,258 million, available loss carryforwards of W22,763 million, foreign tax credit carryforwards and tax credit carryforwards for research and human resource development etc. of W12,681 million and W1,988 million, respectively, which expire from 2015 to 2019. Based on the Company's historical and projected net and taxable income, the Company determined that it would not be able to realize these temporary differences, available loss carryforwards and tax credits carryforwards, and recognized a valuation allowance of W21,714 million on the full amount of temporary differences, available loss carryforwards and available tax credit carryforwards at an effective rate expected to be incurred to Gravity.
As of December 31, 2014, NeoCyon, Inc., the Company's 96.11% owned subsidiary in Korea, had temporary differences of W646 million and available loss carryforwards of W3,712 million. Also, the subsidiary had foreign tax credit carryforwards and tax credit carryforwards for research and human resource development etc. of W744 million and W1,431 million, respectively, which expire from 2015 to 2019. Based on this subsidiary's historical and projected net and taxable income, the Company determined that it would not be able to realize these temporary differences, available loss carryforwards and tax credits carryforwards, and recognized a valuation allowance of W3,134 million on the full amount of the temporary differences, available loss carryforwards and tax credits carryforwards at an effective rate expected to be incurred in Korea.
As of December 31, 2014, Gravity Entertainment Corp., the Company's 100% owned subsidiary in Japan, had temporary differences of W244 million and available loss carryforwards of W14 million which expire from 2015 to 2021. Based on this subsidiary's historical and projected net and taxable income, the Company determined that it would not be able to realize these temporary differences and loss carryforwards, and recognized a valuation allowance of W108 million on the full amount of the temporary differences and available loss carryforwards at an effective rate expected to be incurred in Japan.
As of December 31, 2014, Gravity Interactive, Inc., the Company's 100% owned subsidiary in US, had available loss carryforwards of W7,328 million for federal tax and W7,696 million for state tax, respectively, which expire from 2027 to 2034. Based on this subsidiary's historical and projected net and taxable income, the Company determined that it would not be able to realize these loss carryforwards, and recognized a valuation allowance of W2,822 million on the full amount of the available loss carryforwards at an effective rate expected to be incurred in U.S.
As of December 31, 2014, Gravity Games Corporation, the Company's 85.50% owned subsidiary in Korea, had temporary differences of W1,772 million and available loss carryforwards of W9,543 million. Also, the subsidiary had foreign tax credit carryforwards and tax credit carryforwards for research and human resource development etc. of W477 million and W158 million, respectively, which expire from 2015 to 2019. Based on this subsidiary's historical and projected net and taxable income, the Company determined that it would not be able to realize these temporary differences, available loss carryforwards and tax credits carryforwards, and recognized a valuation allowance of W3,124 million on the full amount of the temporary differences, available loss carryforwards and tax credits carryforwards at an effective rate expected to be incurred in Korea.
The Korean statutory tax rate applicable to the Company for the years ended December 31, 2012, 2013 and 2014 are 22%. Deferred taxes are measured using the enacted tax rate expected to apply at the time of reversal, which is 22% for the Company. On January 1, 2014, amended local income tax law was enacted. This amendment has an impact on calculation of surtax on income tax for the period ended December 31, 2014. Prior to the amended local income tax law was enacted, surtax on corporate income tax was calculated at 10% of income tax payable which was subtracted by tax credit. However, it is now calculated at 10% of income tax payable in accordance with this amendment. Such change resulted in change in the tax rate for calculation of deferred tax asset of tax credit carryforward to 20% from 22%.
A reconciliation of income tax expense (benefit) from the Korean statutory income tax rate to actual income tax expense is as follows:

		2012			2013			2014
		(In millions of Korean Won)
Tax expense at Korean statutory tax rate (22%)		W	(3,877	)	W	(3,217	)	W	(2,387	)
Foreign tax credit and foreign tax deduction			(387	)		14			1,069
Tax credit carryforwards for research and human resource development			(997	)		(1,104	)		(756	)
Tax credit carryforwards for social insurance for employment increase			—			(78	)		—
Foreign tax differential			(350	)		(156	)		(259	)
Income not asssessable for tax purpose			—			—			(26	)
Expense not deductible for tax purpose			923			38			351
Change in formula of surtax on income tax			—			—			2,049
Change in valuation allowances			5,181			4,640			6,550
Tax effect from consolidation of subsidiaries			(2,424	)		(462	)		3
Loss of control in subsidiaries			258			—			—
Effect of change in foreign currency exchange rate			266			79			(110	)
Expiration of unused foreign tax credit and unused net operating loss carryforwards			4,054			5,332			4,090
Others			(63	)		22			(427	)

Total income tax expense		W	2,584		W	5,108		W	10,147


The Company assessed uncertain tax positions and measured unrecognized tax benefits for open tax years in accordance with ASC 740, Income Taxes. The Company's policy is that it recognizes interest expenses and penalties related to income tax matters as a component of income tax expense. Accordingly, the Company assesses its income tax positions and records tax benefits for all years subject to examinations based upon the evaluation of the facts, circumstances and information available at that reporting date. For those tax positions for which it is more likely than not that a tax benefit will be sustained, the Company records the amount that has a greater than 50% likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. If the Company does not believe that it is more likely than not that a tax benefit will be sustained, no tax benefit is recognized.
Based on the approach above, the Company assessed the uncertain tax positions and did not record any unrecognized tax benefits as the Company believes that it is more likely than not that there will not be any unrecognized tax benefits.
Allowances for deferred income tax assets for the three years ended December 31, 2012, 2013 and 2014 are as follows:

		Balance at			Decrease			Increase			Balance at
		Beginning of Year			Decrease			Increase			End of Year
		(In millions of Korean Won)
2012
Valuation allowance		W	14,531		W	—		W	5,181		W	19,712
2013
Valuation allowance			19,712			—			4,640			24,352
2014
Valuation allowance			24,352			—			6,550			30,902

Operations_by_Geographic_Area

Operations by Geographic Area	12 Months Ended
Operations by Geographic Area	Dec. 31, 2014
Operations by Geographic Area
Operations by Geographic Area
	15. Operations by Geographic Area
	Geographic information for the years ended December 31, 2012, 2013 and 2014 is based on the location of the distribution entity. Revenues by geographic region are as follows:

		2012		2013		2014
		(In millions of Korean Won)
	Korea	W	14,762	W	15,491	W	19,469
	Japan		30,387		14,409		8,511
	United States of America		5,023		7,725		5,038
	Taiwan and Hong Kong		2,244		3,106		2,315
	Thailand		974		1,015		1,283
	China		495		2,734		749
	Brazil		837		705		664
	Europe		982		643		300
	Russia		476		180		123
	Other		1,601		1,677		1,437

		W	57,781	W	47,685	W	39,889


	Approximately 80% and 20% of the Company's property and equipment are located in Korea and the United States of America, respectively, as of December 31, 2014.

Related_Party_Transactions

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2014
Related Party Transactions
Related Party Transactions
	16. Related Party Transactions
	During the years ended December 31, 2012, 2013 and 2014, there were related party transactions with a shareholder and an equity investee as follows:

		2012		2013		2014
		(In millions of Korean Won)
	Sales to related parties	W	30,061	W	18,562	W	11,441
	Purchases from related parties		3,312		1,212		599
	Amounts due from related parties		2,657		1,773		1,365
	Amounts due to related parties		6,699		5,756		5,111
	On April 1, 2008, GungHo Online Entertainment, Inc. became a majority shareholder by acquiring 52.39% of the voting shares from Heartis Inc., the former majority shareholder, and acquired additional 6.92% voting shares on June 23 and June 24, 2008. The transactions with GungHo and the related balances during 2012, 2013 and 2014 were included in related party transactions above.
	Due to the disposal of equity investments in Ingamba LLC, in May 2012, and Gravity EU SAS, in November 2014, the related party relationships between the Company and those equity investees were discontinued. Therefore, the transactions with Ingamba LLC and Gravity EU SAS that occurred before the disposal of the equity investments were included in the related party transactions. Sales to Ingamba LLC were W138 million in 2012 and Sales to Gravity EU SAS were W237 million in 2014.

Supplemental_Cash_Flow_Informa

Supplemental Cash Flow Information and Non-Cash Activities	12 Months Ended
Supplemental Cash Flow Information and Non-Cash Activities	Dec. 31, 2014
Supplemental Cash Flow Information and Non-Cash Activities
Supplemental Cash Flow Information and Non-Cash Activities
	17. Supplemental Cash Flow Information and Non-Cash Activities

		2012		2013		2014
		(In millions of Korean Won)
	Supplemental cash flow information
	Cash paid during the year for income taxes	W	3,727	W	2,373	W	1,344
	Interest paid		55		24		11
	Supplemental non-cash activities
	Reclassification of long-term deferred revenue to deferred revenue	W	1,562	W	1,922	W	1,242
	Reclassification of prepayment to intangible assets		312		1,361		31

Subsequent_events

Subsequent events	12 Months Ended
Subsequent events	Dec. 31, 2014
Subsequent events.
Subsequent events
	18. Subsequent events
	On April 22, 2015, the Company announced, as approved by Board of Directors on the same day, that it will change the ratio of its ADS to common share from four ADSs to one common share (4:1) to one ADS to two common shares (1:2), effective as of May 11, 2015, which will have the effect of a 1-for-8 reverse split of our ADSs. The ratio change of ADS will not have a financial impact on the Company's consolidated financial statements.

Significant_Accounting_Policie1

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2014

Significant Accounting Policies

Basis of presentation

Principles of consolidation

Subsidiary

Year of

Percentage of

Establishment

Obtaining Control

Ownership (%)

Gravity Interactive, Inc.

2003

100.00

Gravity Entertainment Corporation

2003

2004

100.00

NeoCyon, Inc.

2000

2005

96.11

Gravity Middle East & Africa FZ-LLC(*1)

2007

100.00

Gravity Games Corporation(*2)

2003

2010

85.50

(*1)

(*2)

The list of subsidiaries that were excluded from consolidation during the year ended December 31, 2012 is as follows:

Subsidiary

Reason

Gravity CIS Co., Ltd.(*)

Surrendered rights for shares of its investment

Gravity RUS Co., Ltd.(*)

(*)

The Company recorded its initial investments at cost and records its pro rata share of the earnings or losses in the results of operations of the equity method investees.

Use of estimates

Risks and uncertainties

Industry and revenue

During the years ended December 31, 2012, 2013 and 2014, the Company generated 87%, 81% and 84% of its revenues from countries in Asia, respectively.

2012

2013

2014

Country

Customer

Accounts

Revenues

Accounts

Revenues

Accounts

Revenues

Receivable

Japan

GungHo Online Entertainment, Inc.

Korea

LG Electronics Inc.

The amounts included within the accounts receivable balance as of December 31, 2014 are W1,325 million and W796 million from GungHo Online Entertainment, Inc. and LG Electronics Inc., respectively.

Concentrations of credit risk

Revenue recognition

Online games—subscription revenue

Online games—royalties and license fees

Mobile games and applications revenue

Character merchandising, animation and other revenue

Out-of-Period Adjustments in 2013

Cash and cash equivalents

Cash equivalents consist of time deposits with original maturity of three months or less at the time of purchase.

Short-term financial instruments

Short-term financial instruments primarily include time deposits placed with financial institutions which have an original maturity greater than three months but less than one year.

Allowance for doubtful accounts

Property and equipment

Property and equipment are stated at cost, less accumulated depreciation. Depreciation for property and equipment is computed using the straight-line method over the following estimated useful lives:

Computer and equipment

4 years

Furniture and fixtures

4 years

Software

3 years

Vehicles

4 years

Leasehold improvements are depreciated on a straight-line basis over the estimated useful life of the assets or the lease term, whichever is shorter.

Routine maintenance and repairs are charged to expense as incurred. Expenditures which enhance the value or extend the useful lives of the related assets are capitalized.

Depreciation for property and equipment is allocated to cost of revenue, selling, general and administrative expenses or research and development expenses.

Accounting for the impairment of long-lived assets

Intangible assets

Capitalized software development costs—online game development costs

Impairment losses on capitalized software development cost for games for the years ended December 31, 2013 and 2014 were W534 million and nil, respectively.

Capitalized software development costs—website and internal use software development costs

Capitalized software development costs for website and internal use software at December 31, 2013 and 2014 were W90 million and nil, respectively.

Impairment losses on capitalized software development cost for website and internal use software for the years ended December 31, 2013 and 2014 were W245 million and nil, respectively.

Research and development costs

Goodwill

Acquired in-process research and development ("IPR&D") technology

Advertising

The Company expenses advertising costs as incurred. Advertising expense was W4,585 million, W2,852 million and W1,614 million for the years ended December 31, 2012, 2013 and 2014, respectively.

Accrued severance benefits and pension plan

Foreign currency translation

Foreign currency transactions

Net gains and losses resulting from foreign exchange transactions are included in foreign currency income (losses) in the consolidated statements of comprehensive loss.

Income taxes

Fair Value Measurements

•

Level 1—Quoted prices in active exchange markets involving identical assets or liabilities.

•

Level 3—Inputs that are generally unobservable and typically reflect management estimates of assumptions and inputs using a binomial lattice model as the valuation technique.

Fair Value of Financial Instruments

Earnings (losses) per share

Revision of prior periods

Recent accounting pronouncements

Significant_Accounting_Policie2

Significant Accounting Policies (Tables)	12 Months Ended
Significant Accounting Policies (Tables)	Dec. 31, 2014
Significant Accounting Policies
Subsidiaries

	Subsidiary		Year of			Year of			Percentage of
	Subsidiary		Establishment			Obtaining Control			Ownership (%)
	Gravity Interactive, Inc.			2003			2003			100.00
	Gravity Entertainment Corporation			2003			2004			100.00
	NeoCyon, Inc.			2000			2005			96.11
	Gravity Middle East & Africa FZ-LLC(*1)			2007			2007			100.00
	Gravity Games Corporation(*2)			2003			2010			85.50


	(*1)	In May 2007, the Company founded Gravity Middle East & Africa FZ-LLC, a wholly owned United Arab Emirates-based subsidiary. Gravity Middle East & Africa FZ-LLC has been in the process of liquidation since September 2008.
	(*2)	In October 2010, the Company acquired 50.83% ownership of Barunson Interactive Corporation. Based on the shareholders' meeting held on March 28, 2011, Barunson Interactive Corporation changed its name to Gravity Games Corporation. In August 2013, the Company additionally acquired 34.67% of the share capital of Gravity Games Corporation through additional capital increase. As a result of increase in ownership interest, additional paid-in capital was decreased by W319 million and non-controlling interest in subsidiaries increased by the same amount.


Subsidiaries Excluded from Consolidation
	The list of subsidiaries that were excluded from consolidation during the year ended December 31, 2012 is as follows:

	Subsidiary		Reason
	Gravity CIS Co., Ltd.(*)		Surrendered rights for shares of its investment
	Gravity RUS Co., Ltd.(*)		Surrendered rights for shares of its investment


	(*)	In August 2012, the Company surrendered rights for shares (ownership interest of 99.99% (Gravity RUS Co., Ltd.) and 100% (Gravity CIS Co., Ltd.)) of its investments in accordance with the laws of Russia.


Accounts Receivable and Total Revenue Risks and Uncertainties

					2012						2013						2014
	Country		Customer		Accounts			Revenues			Accounts			Revenues			Accounts			Revenues
	Country		Customer		Receivable			Revenues			Receivable			Revenues			Receivable			Revenues
	Japan		GungHo Online Entertainment, Inc.			34	%		51	%		30	%		38	%		25	%		28	%
	Korea		LG Electronics Inc.			7	%		4	%		9	%		6	%		15	%		8	%


Property and Equipment Estimated Useful Lives

	Computer and equipment		4 years
	Furniture and fixtures		4 years
	Software		3 years
	Vehicles		4 years

Allowance_for_doubtful_account1

Allowance for doubtful accounts (Tables)	12 Months Ended
Allowance for doubtful accounts (Tables)	Dec. 31, 2014
Accounts receivable.
Allowance for doubtful accounts
Changes in Allowance for Accounts Receivable

		2012			2013		2014
		(In millions of Korean Won)
	Balance at beginning of year	W	8		W	9	W	32
	Provision for allowances		6			23		16
	Reversal of previous provision		—			—		—
	Write-offs		(5	)		—		(13	)

	Balance at end of year	W	9		W	32	W	35




Loan Receivable
Allowance for doubtful accounts
Changes in Allowance for Accounts Receivable

		2012			2013		2014
		(In millions of Korean Won)
	Balance at beginning of year	W	1,000		W	1,200	W	1,200
	Provision for allowances		200			—		—
	Reversal of previous provision		—			—		—
	Write-offs		—			—		—

	Balance at end of year	W	1,200		W	1,200	W	1,200

Equity_Method_Investment_Table

Equity Method Investment (Tables)	12 Months Ended
Equity Method Investment (Tables)	Dec. 31, 2014
Equity Method Investment
Equity Income (loss) on investments

		2012			2013			2014
		(In millions of Korean Won)
	Animation Production Committee	W	—		W	—		W	—
	Online Game Revolution Fund No. 1		(51	)		(18	)		—
	Gravity EU SAS		(257	)		—			—
	Ingamba LLC		(25	)		—			—

	Total equity income (loss) on investments	W	(333	)	W	(18	)	W	—

Property_and_Equipment_Net_Tab

Property and Equipment, Net (Tables)	12 Months Ended
Property and Equipment, Net (Tables)	Dec. 31, 2014
Property and Equipment, Net
Property and Equipment

		2013			2014
		(In millions of Korean Won)
	Computer and equipment	W	7,212		W	7,050
	Furniture and fixtures		2,149			1,368
	Vehicles		78			80
	Capital lease assets		1,287			1,340
	Leasehold improvements		746			964
	Software externally-purchased		11,898			10,280

			23,370			21,082
	Less accumulated depreciation		(21,055	)		(19,869	)

		W	2,315		W	1,213

Goodwill_and_other_intangible_1

Goodwill and other intangible assets (Tables)	12 Months Ended
Goodwill and other intangible assets (Tables)	Dec. 31, 2014
Goodwill and other intangible assets
Capitalized Software Development Cost and Other Intangible Assets

		At December 31, 2013											At December 31, 2014
		Gross			Accumulated			Accumulated			Net		Gross		Accumulated			Accumulated			Net
		Carrying			Amortization			Impairment			Carrying		Carrying		Amortization			Impairment			Carrying
		Amount									Amount		Amount								Amount
		(In millions of Korean Won)
	Capitalized software development cost	W	29,558		W	(16,236	)	W	(779	)	W	12,543	W	29,558	W	(20,226	)	W	(779	)	W	8,553
	Acquired intangible assets
	Product technology		18,536			(12,503	)		(6,033	)		—		18,599		(12,523	)		(6,033	)		43
	IPR&D technology		8,503			—			(8,503	)		—		8,503		—			(8,503	)		—
	Trademarks		549			(380	)		(3	)		166		579		(409	)		(3	)		167
	Others		3,078			(1,089	)		(1,989	)		—		3,078		(1,089	)		(1,989	)		—

	Total	W	60,224		W	(30,208	)	W	(17,307	)	W	12,709	W	60,317	W	(34,247	)	W	(17,307	)	W	8,763




Changes in Goodwill Balance

		2012			2013			2014
		(In millions of Korean Won)
	Balance at beginning of the year
	Goodwill	W	8,232		W	8,232		W	8,232
	Accumulated impairment losses		(755	)		(4,369	)		(7,022	)

			7,477			3,863			1,210

	Impairment losses		(3,614	)		(2,653	)		—
	Balance at end of the year
	Goodwill		8,232			8,232			8,232
	Accumulated impairment losses		(4,369	)		(7,022	)		(7,022	)

		W	3,863		W	1,210		W	1,210




Expected Amortization Expense of Intangible Assets

		(In millions of Korean Won)
	2015		3,982
	2016		3,982
	2017		683
	2018		16
	2019 and thereafter		100

			8,763

Accrued_Severance_Benefits_Tab

Accrued Severance Benefits (Tables)	12 Months Ended
Accrued Severance Benefits (Tables)	Dec. 31, 2014
Accrued Severance Benefits.
Changes in Accrued Severance Benefits

		2012			2013			2014
		(In millions of Korean Won)
	Balance at beginning of year	W	916		W	683		W	263
	Provisions for severance benefits		96			67			(60	)
	Severance payments		(190	)		(444	)		(100	)
	Terminated but not yet paid		(139	)		(43	)		—

	Balance at end of year	W	683		W	263		W	103

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	12 Months Ended
Commitments and Contingencies (Tables)	Dec. 31, 2014
Commitments and Contingencies.
Future Minimum Lease Payments Under Capital Lease
	Future minimum lease payments for the leases as of December 31, 2014, are as follows:

		2015				2016
		Principal		Interest		Principal		Interest
	Capital lease	$	107	$	4	$	14	$	—
		W	117	W	4	W	16	W	—


Future Minimum Rental Payments Under Operating Lease	Future minimum rental payments for the operating leases as of December 31, 2014, are as follows:

		(In millions of Korean Won)
	2015	W	1,671
	2016		1,586

		W	3,257

Loss_Per_Share_Tables

Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2014
Earnings (losses) Per Share
Basic and Diluted Earning Per Share

		2012			2013			2014
		(In millions of Korean Won,
		except per share data)
	Net loss available for common shareholders (A)	W	(12,224	)	W	(18,588	)	W	(20,907	)
	Weighted average outstanding shares of common shares (B)		6,948,900			6,948,900			6,948,900

	Loss per share Basic and diluted (A/B)	W	(1,759	)	W	(2,675	)	W	(3,009	)

Income_Taxes_Tables

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2014
Income Taxes
Income Tax Expenses Benefit

		2012			2013			2014
		(In millions of Korean Won)
	Loss before income taxes
	Domestic	W	(16,761	)	W	(13,403	)	W	(9,415	)
	Foreign		(862	)		(1,222	)		(1,437	)

			(17,623	)		(14,625	)		(10,852	)

	Current income taxes
	Domestic		3,715			2,634			1,473
	Foreign		4			—			—

			3,719			2,634			1,473

	Deferred income taxes (benefit)
	Domestic		(1,135	)		2,474			8,674
	Foreign		—			—			—

			(1,135	)		2,474			8,674

	Total income tax expenses	W	2,584		W	5,108		W	10,147




Deferred Income Tax Assets and Deferred Income Tax Liabilities

		2013			2014
		(In millions of Korean Won)
	Deferred tax assets
	Accrued expense	W	294		W	269
	Allowance for doubtful		1,148			1,201
	Investments in subsidiaries and equity method investees		232			231
	Depreciation and amortization		743			269
	Deferred revenue		934			578
	Provisions for severance benefits		15			—
	Net operation loss carryforwards		7,085			10,882
	Foreign tax credit carryforwards		19,441			13,901
	Tax credit carryforwards for research and human resource development		3,027			3,507
	Tax credit carryforwards for social insurance for employment increase		78			70
	Others		106			105

	Total deferred tax assets		33,103			31,013
	Less valuation allowance		(24,352	)		(30,902	)

		W	8,751		W	111


	Deferred tax liabilities
	Accrued income	W	80		W	34
	Investments in subsidiaries and equity method investees		65			77

	Total deferred tax liabilities		145			111
	Net deferred tax assets	W	8,606		W	—


	Reported as
	Current portion of deferred income tax assets	W	1,433		W	—
	Non-current deferred income tax assets	W	7,173		W	—


Reconciliation of Income Tax Expense (Benefit)

		2012			2013			2014
		(In millions of Korean Won)
	Tax expense at Korean statutory tax rate (22%)	W	(3,877	)	W	(3,217	)	W	(2,387	)
	Foreign tax credit and foreign tax deduction		(387	)		14			1,069
	Tax credit carryforwards for research and human resource development		(997	)		(1,104	)		(756	)
	Tax credit carryforwards for social insurance for employment increase		—			(78	)		—
	Foreign tax differential		(350	)		(156	)		(259	)
	Income not asssessable for tax purpose		—			—			(26	)
	Expense not deductible for tax purpose		923			38			351
	Change in formula of surtax on income tax		—			—			2,049
	Change in valuation allowances		5,181			4,640			6,550
	Tax effect from consolidation of subsidiaries		(2,424	)		(462	)		3
	Loss of control in subsidiaries		258			—			—
	Effect of change in foreign currency exchange rate		266			79			(110	)
	Expiration of unused foreign tax credit and unused net operating loss carryforwards		4,054			5,332			4,090
	Others		(63	)		22			(427	)

	Total income tax expense	W	2,584		W	5,108		W	10,147




Allowances for Deferred Income Tax Assets

		Balance at			Decrease			Increase			Balance at
		Beginning of Year			Decrease			Increase			End of Year
		(In millions of Korean Won)
	2012
	Valuation allowance	W	14,531		W	—		W	5,181		W	19,712
	2013
	Valuation allowance		19,712			—			4,640			24,352
	2014
	Valuation allowance		24,352			—			6,550			30,902

Operations_by_Geographic_Area_

Operations by Geographic Area (Tables)	12 Months Ended
Operations by Geographic Area (Tables)	Dec. 31, 2014
Operations by Geographic Area
Revenues by Geographic Region

		2012		2013		2014
		(In millions of Korean Won)
	Korea	W	14,762	W	15,491	W	19,469
	Japan		30,387		14,409		8,511
	United States of America		5,023		7,725		5,038
	Taiwan and Hong Kong		2,244		3,106		2,315
	Thailand		974		1,015		1,283
	China		495		2,734		749
	Brazil		837		705		664
	Europe		982		643		300
	Russia		476		180		123
	Other		1,601		1,677		1,437

		W	57,781	W	47,685	W	39,889

Related_Party_Transactions_Tab

Related Party Transactions (Tables)	12 Months Ended
Related Party Transactions (Tables)	Dec. 31, 2014
Related Party Transactions
Related Party Transactions

		2012		2013		2014
		(In millions of Korean Won)
	Sales to related parties	W	30,061	W	18,562	W	11,441
	Purchases from related parties		3,312		1,212		599
	Amounts due from related parties		2,657		1,773		1,365
	Amounts due to related parties		6,699		5,756		5,111

Supplemental_Cash_Flow_Informa1

Supplemental Cash Flow Information and Non-Cash Activities (Tables)	12 Months Ended
	Dec. 31, 2014
Supplemental Cash Flow Information and Non-Cash Activities
Supplemental Cash Flow Information and Non Cash Activities

		2012		2013		2014
		(In millions of Korean Won)
	Supplemental cash flow information
	Cash paid during the year for income taxes	W	3,727	W	2,373	W	1,344
	Interest paid		55		24		11
	Supplemental non-cash activities
	Reclassification of long-term deferred revenue to deferred revenue	W	1,562	W	1,922	W	1,242
	Reclassification of prepayment to intangible assets		312		1,361		31

Description_of_Business_Detail

Description of Business (Details)	12 Months Ended
	Dec. 31, 2014	Jun. 24, 2008	Apr. 01, 2008
	item	Jun. 24, 2008	Apr. 01, 2008
Description of Business
Number of subsidiaries	5
Description of business
Number of segments	1
GungHo Online Entertainment Incorporated
Description of business
Majority ownership interest in Gravity acquired during the period (as a percent)	59.31%	6.92%	52.39%

Significant_Accounting_Policie3

Significant Accounting Policies (Details) (KRW)	1 Months Ended
In Millions, unless otherwise specified	Aug. 31, 2013	Dec. 31, 2014	Oct. 31, 2010	Aug. 31, 2012
Gravity Interactive, Inc.
Subsidiary or Equity Method Investee
Percentage of Ownership		100.00%
Gravity Entertainment Corporation
Subsidiary or Equity Method Investee
Percentage of Ownership		100.00%
NeoCyon, Inc.
Subsidiary or Equity Method Investee
Percentage of Ownership		96.11%
Gravity Middle East & Africa FZ-LLC
Subsidiary or Equity Method Investee
Percentage of Ownership		100.00%
Gravity Games Corporation
Subsidiary or Equity Method Investee
Percentage of Ownership		85.50%
Percentage of Ownership	34.67%		50.83%
Changes in ownership interest in subsidiaries	319
Gravity CIS Co., Ltd.
Subsidiary or Equity Method Investee
Percentage of ownership interest surrendered				100.00%
Gravity RUS Co., Ltd.
Subsidiary or Equity Method Investee
Percentage of ownership interest surrendered				99.99%

Significant_Accounting_Policie4

Significant Accounting Policies (Details 2)

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

USD ($)

KRW

Out of Period Adjustments in 2013

Japan

Korea

Revenue

Accounts Receivable

Cash and cash equivalents and short-term financial instruments

KRW

Geographic concentration risk

Customer concentration risk

Credit concentration risk

Countries in Asia

Japan

Korea

GungHo Online Entertainment Incorporated

LG Electronics Inc.

Japan

Korea

item

Financial Institution One

Financial Institution Two

GungHo Online Entertainment Incorporated

LG Electronics Inc.

KRW

GungHo Online Entertainment Incorporated

LG Electronics Inc.

Risks and uncertainties

Concentration of risk, rate (as a percent)

84.00%

81.00%

87.00%

28.00%

38.00%

51.00%

8.00%

6.00%

4.00%

25.00%

30.00%

34.00%

15.00%

9.00%

7.00%

29.35%

28.14%

Accounts Receivable

1,325,000,000

796,000,000

Number of financial institutions, concentrations of credit risk

Revenue Recognition

Understatement of revenue

$36,566,000

39,889,000,000

47,685,000,000

57,781,000,000

981,000,000

8,511,000,000

14,409,000,000

30,387,000,000

19,469,000,000

15,491,000,000

14,762,000,000

Significant_Accounting_Policie5

Significant Accounting Policies (Details 3) (Payment processing service providers)	Dec. 31, 2014
Minimum
Allowance for doubtful accounts
Payment processing fee, percent of revenues	1.40%
Maximum
Allowance for doubtful accounts
Payment processing fee, percent of revenues	15.00%

Significant_Accounting_Policie6

Significant Accounting Policies (Details 4)	12 Months Ended
Significant Accounting Policies (Details 4)	Dec. 31, 2014
Computer and equipment
Property and Equipment
Property and equipment estimated useful lives	4 years
Furniture and fixtures
Property and Equipment
Property and equipment estimated useful lives	4 years
Software
Property and Equipment
Property and equipment estimated useful lives	3 years
Vehicles
Property and Equipment
Property and equipment estimated useful lives	4 years

Significant_Accounting_Policie7

Significant Accounting Policies (Details 5)	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014	Dec. 31, 2013
	USD ($)	KRW	KRW	Online Game Product Development Costs	Online Game Product Development Costs	Online Game Product Development Costs	Internal Use Software And Website	Internal Use Software And Website
				KRW	KRW	KRW	KRW	KRW
Intangible assets
Capitalized software development costs	$7,840,000	8,553,000,000	12,543,000,000	8,553,000,000	12,543,000,000		0	90,000,000
Amortization expense for the period				3,990,000,000	4,613,000,000	3,852,000,000
Impairment losses				0	534,000,000		0	245,000,000

Significant_Accounting_Policie8

Significant Accounting Policies (Details 6) (KRW)	12 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Advertising
Advertising expense incurred	1,614	2,852	4,585
Accrued severance benefits and pension plan
Severance benefits, minimum length of service requirement	1 year
Earnings (losses) Per Share
Common stock equivalent	0	0	0

Convenience_Translation_into_U1

Convenience Translation into United States Dollar Amounts (Details)	Dec. 31, 2014
Convenience Translation into United States Dollar Amounts
Translations of Korean Won to US dollars, prevailing exchange rate	1,090.89

Restricted_Assets_Details

Restricted Assets (Details) (Gravity Games Corporation, Long-term financial instrument, KRW)	Dec. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Gravity Games Corporation \| Long-term financial instrument
Restricted Assets
Restricted long-term financial instrument amount	0	5

Allowance_for_doubtful_account2

Allowance for doubtful accounts (Details) (KRW)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balance at beginning of year	32	9	8
Provision for allowances	16	23	6
Write-offs	-13		-5
Balance at end of year	35	32	9

Allowance_for_doubtful_account3

Allowance for doubtful accounts (Details 2) (KRW)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2014	Dec. 31, 2013
Allowance for loan receivable
Balance at beginning of year	1,000	1,200	1,200
Provision for allowances	200
Balance at end of year	1,200	1,200	1,200

Allowance_for_doubtful_account4

Allowance for doubtful accounts (Details 3) (KRW)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2011
Allowance for doubtful accounts
Loan receivable, bad debt reserve	200
Loan Receivable \| Naru
Allowance for doubtful accounts
Loan receivable, short-term		1,200		300
Accounts receivable, accrued interest (as a percent)				8.00%
Loan receivable, long-term			1,000	1,000

Equity_Method_Investment_Detai

Equity Method Investment (Details 1) (KRW)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Equity Method Investment
Equity income (loss) on investments	-18	-333
Online Game Revolution Fund No. 1
Equity Method Investment
Equity income (loss) on investments	-18	-51
Gravity EU SAS
Equity Method Investment
Equity income (loss) on investments		-257
Ingamba LLC
Equity Method Investment
Equity income (loss) on investments		-25	-134	13

Equity_Method_Investment_Detai1

Equity Method Investment (Details 2)

12 Months Ended

0 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2006

Apr. 30, 2004

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2009

Dec. 31, 2008

Dec. 31, 2006

Dec. 31, 2005

Dec. 31, 2012

31-May-12

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Jun. 30, 2010

Nov. 30, 2014

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2011

Dec. 31, 2010

KRW

USD ($)

KRW

Animation Production Committee

Online Game Revolution Fund No. 1

Ingamba LLC

Gravity EU SAS

Gravity Entertainment Corporation

KRW

JPY (¥)

KRW

JPY (¥)

KRW

JPY (¥)

KRW

JPY (¥)

KRW

Softbank Corporation

GungHo Online Entertainment Incorporated

USD ($)

KRW

RUB

KRW

JPY (¥)

KRW

Equity Method Investment

Investment in limited liability partnership commitment

¥ 1,000,000,000

8,713,000,000

Equity method investments

123,000,000

1,358,000,000

100,000,000

869,000,000

502,000,000

13,000,000

Additional investment in equity method investment

18,000,000

229,000,000

642,000,000

6,054,000,000

150,000,000

1,245,000,000

Ownership of investee (as a percent)

30.00%

16.39%

49.18%

8.20%

25.00%

100.00%

Equity income (loss) on investments

-18,000,000

-333,000,000

-18,000,000

-51,000,000

-25,000,000

-134,000,000

13,000,000

-257,000,000

Proceeds from disposal of equity method investments

579,000,000

913,000,000

579,000,000

Accumulated other comprehensive income

1,674,000,000

1,394,000

1,521,000,000

1,234,000,000

Equity method investment, disposal amount

800,000

851,000,000

Gain on disposal of equity investments

528,000,000

3,000,000

Property_and_Equipment_Net_Det

Property and Equipment, Net (Details)

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

USD ($)

KRW

Computer and equipment

Furniture and fixtures

Vehicles

Capital lease assets

Leasehold improvements

Software

KRW

Property and Equipment

21,082,000,000

23,370,000,000

7,050,000,000

7,212,000,000

1,368,000,000

2,149,000,000

80,000,000

78,000,000

1,340,000,000

1,287,000,000

964,000,000

746,000,000

10,280,000,000

11,898,000,000

Less: accumulated depreciation

-19,869,000,000

-21,055,000,000

Property and equipment, net

$1,112,000

1,213,000,000

2,315,000,000

Property_and_Equipment_Net_Det1

Property and Equipment, Net (Details 2) (KRW)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Property and Equipment, Net
Depreciation expenses	1,578	1,852	1,903

Goodwill_and_other_intangible_2

Goodwill and other intangible assets (Details) (KRW)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Finite And Indefinite Lived Intangible Assets
Gross Carrying Amount	60,317	60,224
Accumulated Amortization	-34,247	-30,208
Accumulated Impairment	-17,307	-17,307
Net Carrying Amount	8,763	12,709
Aggregate amortization expense for intangible assets	4,039	5,980	6,479
In-process research and development technology
Finite And Indefinite Lived Intangible Assets
Gross Carrying Amount	8,503	8,503
Accumulated Impairment	-8,503	-8,503
Impairment loss recognized			8,503
In-process research and development technology \| East Road
Finite And Indefinite Lived Intangible Assets
Impairment loss recognized			8,503
Capitalized software development cost
Finite And Indefinite Lived Intangible Assets
Gross Carrying Amount	29,558	29,558
Accumulated Amortization	-20,226	-16,236
Accumulated Impairment	-779	-779
Net Carrying Amount	8,553	12,543
Capitalized R&D costs, costs of software to be sold, leased, or marketed	0	548	2,303
Impairment loss recognized		779
Capitalized software development cost \| Ragnarok Odyssey Ace
Finite And Indefinite Lived Intangible Assets
Impairment loss recognized		381
Capitalized software development cost \| Ragnarok Online
Finite And Indefinite Lived Intangible Assets
Impairment loss recognized		154
Capitalized software development cost \| Game Station
Finite And Indefinite Lived Intangible Assets
Impairment loss recognized	244
Product Technology
Finite And Indefinite Lived Intangible Assets
Gross Carrying Amount	18,599	18,536
Accumulated Amortization	-12,523	-12,503
Accumulated Impairment	-6,033	-6,033
Net Carrying Amount	43
Impairment loss recognized		1,424	2,225
Product Technology \| Dragonica
Finite And Indefinite Lived Intangible Assets
Impairment loss recognized		1,424
Product Technology \| Maestia
Finite And Indefinite Lived Intangible Assets
Impairment loss recognized		237
Product Technology \| Requiem
Finite And Indefinite Lived Intangible Assets
Impairment loss recognized		382
Product Technology \| Steal Fighter
Finite And Indefinite Lived Intangible Assets
Impairment loss recognized		344
Trademarks
Finite And Indefinite Lived Intangible Assets
Gross Carrying Amount	579	549
Accumulated Amortization	-409	-380
Accumulated Impairment	-3	-3
Net Carrying Amount	167	166
Impairment loss recognized		3
Other Finite Lived Intangible Assets
Finite And Indefinite Lived Intangible Assets
Gross Carrying Amount	3,078	3,078
Accumulated Amortization	-1,089	-1,089
Accumulated Impairment	-1,989	-1,989
Impairment loss recognized		963	227

Goodwill_and_other_intangible_3

Goodwill and other intangible assets (Details 2)	12 Months Ended				12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	KRW	KRW	USD ($)	KRW	Gravity Games Corporation	Gravity Games Corporation
					KRW	KRW
Goodwill
Goodwill at beginning of the year before accumulated impairment losses	8,232,000,000	8,232,000,000		8,232,000,000
Accumulated impairment losses at beginning of year	-4,369,000,000	-755,000,000		-7,022,000,000
Goodwill at beginning of year	3,863,000,000	7,477,000,000	1,109,000	1,210,000,000
Impairment losses	-2,653,000,000	-3,614,000,000			-2,653,000,000	-3,614,000,000
Goodwill at ending of the year before accumulated impairment losses	8,232,000,000	8,232,000,000		8,232,000,000
Accumulated impairment losses at ending of year	-7,022,000,000	-4,369,000,000		-7,022,000,000
Goodwill at end of the year	1,210,000,000	3,863,000,000	$1,109,000	1,210,000,000

Goodwill_and_other_intangible_4

Goodwill and other intangible assets (Details 3) (KRW)	Dec. 31, 2014
In Millions, unless otherwise specified	Dec. 31, 2014
Goodwill and other intangible assets
2015	3,982
2016	3,982
2017	683
2018	16
2019 and thereafter	100
Net Carrying Amount	8,763

Accrued_Severance_Benefits_Det

Accrued Severance Benefits (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	USD ($)	KRW	KRW	KRW
Accrued Severance Benefits.
Balance at beginning of year		263,000,000	683,000,000	916,000,000
Provisions for severance benefits	-55,000	-60,000,000	67,000,000	96,000,000
Severance payments		-100,000,000	-444,000,000	-190,000,000
Terminated but not yet paid			-43,000,000	-139,000,000
Balance at end of year	$94,000	103,000,000	263,000,000	683,000,000

Accrued_Severance_Benefits_Det1

Accrued Severance Benefits (Details 2) (Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits, KRW)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Gravity Co., LTD.
Defined contribution pension plan ("Pension Plan")
Defined contribution pension plan, contribution	1,227	1,114	1,190
NeoCyon, Inc.
Defined contribution pension plan ("Pension Plan")
Defined contribution pension plan, cost recognized	569	467	390

Commitments_and_Contingencies_1

Commitments and Contingencies (Details) (KRW)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
	item	Dec. 31, 2013
Royalties from Licensing Arrangements
Commitments and Contingencies
Outstanding licensing agreements	9
Royalties from Licensing Arrangements \| Ragnarok Online \| Minimum
Commitments and Contingencies
Licensing agreements, percentage of royalty receivable	16.00%
Royalties from Licensing Arrangements \| Ragnarok Online \| Maximum
Commitments and Contingencies
Licensing agreements, percentage of royalty receivable	40.00%
Licensed games \| Ragnarok Online \| Minimum
Commitments and Contingencies
Contract period after commercialization in each geographic location	1 year
Licensed games \| Ragnarok Online \| Maximum
Commitments and Contingencies
Contract period after commercialization in each geographic location	3 years
Licensed games \| Steal Fighter
Commitments and Contingencies
Amount committed for license fee payment		200
Licensed games \| Web browser-based game
Commitments and Contingencies
Amount committed for license fee payment		450

Commitments_and_Contingencies_2

Commitments and Contingencies (Details 2)

12 Months Ended

In Thousands, unless otherwise specified

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

KRW

USD ($)

KRW

Principal Payments

Interest

Capital Lease Obligations

USD ($)

KRW

USD ($)

KRW

Principal Payments

Interest

USD ($)

KRW

USD ($)

KRW

USD ($)

KRW

USD ($)

KRW

USD ($)

KRW

Commitments and Contingencies

Capital lease, principal payment

$137

$243

256,000

$203

216,000

144,000

Capital lease, interest payment

11,000

24,000

55,000

11,000

23,000

39,000

Additional capital lease agreements

243

Future minimum lease payments

2015

107

117,000

4,000

2016

$14

16,000

Commitments_and_Contingencies_3

Commitments and Contingencies (Details 3)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014	Dec. 31, 2014
	KRW	KRW	KRW	USD ($)	Korea Software Industry Promotion Agency
					KRW
Operating Leased Assets
Rental expenses under operating leases	2,342,000,000	2,342,000,000	2,796,000,000
Lease agreement, guarantee deposit	937,000,000	5,569,000,000		859,000	905,000,000
Future minimum rental payments
2015	1,671,000,000
2016	1,586,000,000
Total operating lease due	3,257,000,000

Commitments_and_Contingencies_4

Commitments and Contingencies (Details 4)	1 Months Ended
In Millions, unless otherwise specified	Apr. 30, 2009	Apr. 30, 2009	Nov. 30, 2014	Jan. 31, 2013	Nov. 30, 2011	Aug. 31, 2010	Aug. 31, 2010	Jun. 30, 2011	31-May-10
	Gravity Middle East & Africa FZ-LLC	Gravity Middle East & Africa FZ-LLC	Pending litigation	Pending litigation	Pending litigation	Pending litigation	Pending litigation	Pending litigation	Pending litigation
	USD ($)	KRW	Repatriation Claims	Repatriation Claims	Repatriation Claims	Repatriation Claims	Repatriation Claims	Compensation Claim	Compensation Claim
			Gravity Middle East & Africa FZ-LLC	Gravity Middle East & Africa FZ-LLC	Gravity Middle East & Africa FZ-LLC	Gravity Middle East & Africa FZ-LLC	Gravity Middle East & Africa FZ-LLC	Former Executive	Former Executive
			Director and manager of Gravity Middle East Africa & FZ-LLC	Director and manager of Gravity Middle East Africa & FZ-LLC	Director and manager of Gravity Middle East Africa & FZ-LLC	Director and manager of Gravity Middle East Africa & FZ-LLC	Director and manager of Gravity Middle East Africa & FZ-LLC	KRW	KRW
			KRW	KRW	KRW	AED	KRW
Litigation
Damages sought						5	1,628	110	50
Repatriated foreign earnings	1.4	1,820
Deposits paid pending appeal				130	4,140
Deposits refunded			4,270

Shareholders_Equity_Details

Shareholders' Equity (Details) (KRW)	12 Months Ended
Shareholders' Equity (Details) (KRW)	Dec. 31, 2014	Dec. 31, 2013
Shareholders Equity
Common shares and non-voting preferred shares, authorized	40,000,000
Preferred shares, shares authorized (in shares)	2,000,000	2,000,000
Common shares, shares issued (in shares)	6,948,900	6,948,900
Common shares, shares outstanding (in shares)	6,948,900	6,948,900
Common Shares
Shareholders Equity
Shares, par value (in Korean Won per share)	500
Non-voting preferred shares
Shareholders Equity
Shares, par value (in Korean Won per share)	500
Non-voting preferred shares \| Minimum
Shareholders Equity
Non-voting preferred shares, dividends (as a percent)	1.00%
Non-voting preferred shares \| Maximum
Shareholders Equity
Preferred shares, shares authorized (in shares)	2,000,000
Non-voting preferred shares, dividends (as a percent)	15.00%

Loss_Per_Share_Details

Loss Per Share (Details)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	USD ($)	KRW	KRW	KRW
Earnings (losses) Per Share
Net loss available for common shareholders (A)	($19,167)	-20,907,000	-18,588,000	-12,224,000
Weighted average outstanding shares of common shares (B)	6,948,900	6,948,900	6,948,900	6,948,900
Loss per share Basic and diluted (A/B) (in Korean Won per share)	($2.76)	-3,009	-2,675	-1,759

Income_Taxes_Details

Income Taxes (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	USD ($)	KRW	KRW	KRW
Income Taxes
Domestic		-9,415,000,000	-13,403,000,000	-16,761,000,000
Foreign		-1,437,000,000	-1,222,000,000	-862,000,000
Loss before income tax expense and equity loss on investments	-9,949,000	-10,852,000,000	-14,625,000,000	-17,623,000,000
Domestic		1,473,000,000	2,634,000,000	3,715,000,000
Foreign				4,000,000
Current Income Tax Expense (Benefit), Total		1,473,000,000	2,634,000,000	3,719,000,000
Domestic		8,674,000,000	2,474,000,000	-1,135,000,000
Deferred Income Tax Expense (Benefit), Total		8,674,000,000	2,474,000,000	-1,135,000,000
Total income tax expenses	9,302,000	10,147,000,000	5,108,000,000	2,584,000,000
Income taxes recognized in other comprehensive income		68,000,000	17,000,000	104,000,000

Income_Taxes_Details_2

Income Taxes (Details 2) (KRW)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Deferred tax assets
Accrued expense	269	294
Allowance for doubtful	1,201	1,148
Investments in subsidiaries and equity method investees	231	232
Depreciation and amortization	269	743
Deferred revenue	578	934
Provisions for severance benefits		15
Net operation loss carryforwards	10,882	7,085
Foreign tax credit carryforwards	13,901	19,441
Tax credit carryforwards for research and human resource development	3,507	3,027
Tax credit carryforwards for social insurance for employment increase	70	78
Others	105	106
Total deferred tax assets	31,013	33,103
Less valuation allowance	-30,902	-24,352	-19,712	-14,531
Deferred Tax Assets, Net of Valuation Allowance, Total	111	8,751
Deferred tax liabilities
Accrued income	34	80
Investments in subsidiaries and equity method investees	77	65
Total deferred tax liabilities	111	145
Net deferred tax assets (liabilities)		8,606
Current portion of deferred income tax assets		1,433
Non-current deferred income tax assets		7,173

Income_Taxes_Details_3

Income Taxes (Details 3) (KRW)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Taxes
Deferred tax credit carryforwards	2,642
Percentage of realizable deferred tax assets from tax credit carry forwards	13.00%
Net deferred tax assets (liabilities)		8,606
Deferred foreign tax credit carryforwards	13,901	19,441
Tax credit carryforwards for research and human resource development	3,507	3,027
Temporary differences and loss carryforwards, recognized valuation allowance	30,902	24,352	19,712	14,531
Tax expense (benefit) at Korean statutory tax rate, rate (as a percent)	22.00%	22.00%	22.00%
Gravity Co., Ltd
Income Taxes
Net deferred tax assets (liabilities)	9,258
Deferred foreign tax credit carryforwards	12,681
Tax credit carryforwards for research and human resource development	1,988
Tax credits carry forwards, recognized valuation allowance	21,714
Gravity Co., Ltd \| Korea
Income Taxes
Available loss carryforwards	22,763
Gravity Entertainment Corporation
Income Taxes
Percentage of Ownership	100.00%
Gravity Entertainment Corporation \| Japan
Income Taxes
Net deferred tax assets (liabilities)	244
Available loss carryforwards	14
Temporary differences and loss carryforwards, recognized valuation allowance	108
NeoCyon, Inc.
Income Taxes
Percentage of Ownership	96.11%
NeoCyon, Inc. \| Korea
Income Taxes
Net deferred tax assets (liabilities)	646
Deferred foreign tax credit carryforwards	744
Tax credit carryforwards for research and human resource development	1,431
Percentage of Ownership	96.11%
Available loss carryforwards	3,712
Temporary differences and loss carryforwards, recognized valuation allowance	3,134
Gravity Interactive, Inc.
Income Taxes
Percentage of Ownership	100.00%
Gravity Interactive, Inc. \| United States
Income Taxes
Available loss carryforwards, recognized valuation allowance	2,822
Gravity Interactive, Inc. \| Federal Tax \| United States
Income Taxes
Available loss carryforwards	7,328
Gravity Interactive, Inc. \| State tax \| United States
Income Taxes
Available loss carryforwards	7,696
Gravity Games Corporation
Income Taxes
Percentage of Ownership	85.50%
Gravity Games Corporation \| Korea
Income Taxes
Net deferred tax assets (liabilities)	1,772
Deferred foreign tax credit carryforwards	477
Tax credit carryforwards for research and human resource development	158
Percentage of Ownership	85.50%
Available loss carryforwards	9,543
Temporary differences and loss carryforwards, recognized valuation allowance	3,124

Income_Taxes_Details_4

Income Taxes (Details 4)	12 Months Ended				0 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2014
	USD ($)	KRW	KRW	KRW	Korean surtax amendment	Korean surtax amendment
Reconciliation Of Income Taxes
Tax expense (benefit) at Korean statutory tax rate, rate (as a percent)	22.00%	22.00%	22.00%	22.00%	20.00%	22.00%
Surtax on corporate income tax (as a percent)						10.00%
Surtax on corporate income tax, net of tax credit (as a percent)					10.00%
Tax expense at Korean statutory tax rate (22%)		-2,387,000,000	-3,217,000,000	-3,877,000,000
Foreign tax credit and foreign tax deduction		1,069,000,000	14,000,000	-387,000,000
Tax credit carryforwards for research and human resource development		-756,000,000	-1,104,000,000	-997,000,000
Tax credit carryforwards for social insurance for employment increase			-78,000,000
Foreign tax differential		-259,000,000	-156,000,000	-350,000,000
Income not assessable for tax purpose		-26,000,000
Expense not deductible for tax purpose		351,000,000	38,000,000	923,000,000
Change in formula of surtax on income tax		2,049,000,000
Change in valuation allowances		6,550,000,000	4,640,000,000	5,181,000,000
Tax effect from consolidation of subsidiaries		3,000,000	-462,000,000	-2,424,000,000
Loss of control in subsidiaries				258,000,000
Effect of change in foreign currency exchange rate		-110,000,000	79,000,000	266,000,000
Expiration of unused foreign tax credit and unused net operating loss carryforwards		4,090,000,000	5,332,000,000	4,054,000,000
Others		-427,000,000	22,000,000	-63,000,000
Total income tax expenses	$9,302,000	10,147,000,000	5,108,000,000	2,584,000,000

Income_Taxes_Details_5

Income Taxes (Details 5) (KRW)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Taxes
Balance at Beginning of Year	24,352	19,712	14,531
Increase (decrease)	6,550	4,640	5,181
Balance at End of Year	30,902	24,352	19,712

Operations_by_Geographic_Area_1

Operations by Geographic Area (Details)

12 Months Ended

In Thousands, unless otherwise specified

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

USD ($)

KRW

Korea

Japan

United States and Canada

Taiwan and Hong Kong/Macau

Thailand

China

Brazil

Europe

Russia

Other

KRW

Revenues by geographic region

Revenue

$36,566

39,889,000

47,685,000

57,781,000

19,469,000

15,491,000

14,762,000

8,511,000

14,409,000

30,387,000

5,038,000

7,725,000

5,023,000

2,315,000

3,106,000

2,244,000

1,283,000

1,015,000

974,000

749,000

2,734,000

495,000

664,000

705,000

837,000

300,000

643,000

982,000

123,000

180,000

476,000

1,437,000

1,677,000

1,601,000

Operations_by_Geographic_Area_2

Operations by Geographic Area (Details 2) (Property, Plant and Equipment, Other Types, Geographic concentration risk)	12 Months Ended
	Dec. 31, 2014
Korea
Operations by Geographic Area
Concentration of risk, rate (as a percent)	80.00%
United States
Operations by Geographic Area
Concentration of risk, rate (as a percent)	20.00%

Related_Party_Transactions_Det

Related Party Transactions (Details) (KRW)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jun. 24, 2008	Apr. 01, 2008
Related Party Transactions
Sales to related parties	11,441	18,562	30,061
Purchases from related parties	599	1,212	3,312
Amounts due from related parties	1,365	1,773	2,657
Amounts due to related parties	5,111	5,756	6,699
Description of business
Revenue from related parties	11,441	18,562	30,061
Due from related parties	1,365	1,773	2,657
GungHo Online Entertainment Incorporated
Description of business
Majority ownership interest in Gravity acquired during the period (as a percent)	59.31%			6.92%	52.39%
Ingamba LLC
Related Party Transactions
Sales to related parties			138
Description of business
Revenue from related parties			138
Gravity EU SAS
Related Party Transactions
Sales to related parties	237
Description of business
Revenue from related parties	237

Supplemental_Cash_Flow_Informa2

Supplemental Cash Flow Information and Non-Cash Activities (Details) (KRW)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Supplemental cash flow information
Cash paid during the year for income taxes	1,344	2,373	3,727
Interest paid	11	24	55
Supplemental non-cash activities
Reclassification of long-term deferred revenue to deferred revenue	1,242	1,922	1,562
Reclassification of prepayment to intangible assets	31	1,361	312

Subsequent_events_Details

Subsequent events (Details) (ADS, Subsequent event)	0 Months Ended
Subsequent events (Details) (ADS, Subsequent event)	11-May-15	11-May-15	10-May-15
ADS \| Subsequent event
Subsequent events
ADS ratio to common shares	2	2	4
Reverse split conversion ratio	8