GRAVITY Co., Ltd. announced the resignation of Mr. Doo Hyun Ryu, who was an independent director of the Board of Directors (the “Board”) and the chairman of the audit committee. On June 17, 2020, Mr. Doo Hyun Ryu delivered his notice to resign from his position due to personal reasons. The resignation of Mr. Ryu did not result from any disagreement with the Company. The audit committee appointed Mr. Yong Seon Kwon as the chairman of the audit committee to fill the vacant seat resulting from Mr. Ryu’s resignation on June 17, 2020.