Brief: Gravity says ended license, distribution agreement with Gungho Online for Ragnarok Online

GRAVITY Co

26/01/2016 11:20

Jan 26 (Reuters) - Gravity Co Ltd  GRVY.O : 
 * Issues business updates 
 * Gravity co - board has approved a termination of the license and distribution 
   agreement for Ragnarok Online with Gungho Online Entertainment 
 * Says as part of the termination, US$5 million in initial payments received 
   from Gungho will be refunded 
 * Also expects recognizing impairment loss on intangible assets of about won 
   4,605 million 
 
 * Source text for Eikon  ID:nGNXMMCIGa  
 
 * Further company coverage  GRVY.O  
 
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