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Simpson Thacher represented GRAVITY Co., Ltd. in connection with the initial public offering by GRAVITY and certain of its shareholders of American depositary shares representing common shares, which closed on February 11, 2005. Credit Suisse First Boston LLC was the lead underwriter for the $108 million offering. The shares are traded on the NASDAQ National Market under the symbol "GRVY".

GRAVITY, based in Korea, is a leading developer and distributor of massively mutliplayer online role-playing games (MMORPGs) in several Asian markets and distributes its games in many other markets worldwide. GRAVITY is currently the only Korean company whose shares are listed on a U.S. stock exchange without a separate listing in the home country.

The Simpson Thacher team for the transaction included Jin Hyuk Park, Anthony Choi, Johneth Park and Changsu Oh (Securities) in Hong Kong, and Adam Rosenzweig and Hallie B. Grainer (Tax) in New York.