Jung Ryool Kim, diverted approximately $6 million in company funds to himself between 2002 and 2004, which eventually led to an investigation, settlement, and corrections of financial statements for those years.

[4][5][6] On 30 August 2005, Jung Ryool Kim, the controlling shareholder, sold his 52% stake and set plans to quit as a director.

After becoming the new majority shareholder, on 13 September 2005, Il Young Ryu was named by Gravity as its new chairman and joint chief executive.

[14] Gravity faced litigation in 2006 when two US based hedge funds complained that majority shareholders and officers had violated their fiduciary obligations.

[16] Requiem: Bloodymare (Korean: 레퀴엠 온라인) is a massively multiplayer online role-playing game created by Gravity.

On 14 January 2008, the company announced an exclusive seven-year deal with 20th Century Fox licensing and merchandising to develop and publish "Ice Age Online", an online game based on Fox's Ice Age motion picture franchise, but development was halted in 2009.

It has also spawned a beat 'em up game called Ragnarok Battle Offline, which was developed by French Bread and published by Gravity.

For instance, Gravity Interactive, Inc. develops and publishes its version of the game for 3 North American and 40 European countries.