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Global gaming giant Gravity has entered a licensing agreement with the Library Company to bring its 'Ragnarok' intellectual property to the worldwide musical theatre stage. This strategic initiative aims to broaden the audience for Gravity's leading IP, offering immersive experiences and heightened engagement. The plan begins with the debut of a Ragnarok musical in Korea, with ambitions to extend into markets like London's West End and to include orchestra concerts and related merchandise.

As of August 2023, the 'Ragnarok' IP has garnered around 200 million global accounts, with 'Ragnarok Online' being active in 91 regions since its 2002 debut. Gravity pursues extensive IP branding activities including licensing deals, merchandise creation, and live performances, tapping into the enduring popularity of 'Ragnarok.'

The Library Company, acclaimed for its four Tony Awards with the musical 'Sugar,' will oversee the production of the new musical. Gravity's Chief Business Officer, Choi Sung Wook, emphasized the goal to showcase 'Ragnarok's' distinct appeal through traditional musical theatre. Meanwhile, Kim Myung Eun, COO of Library, outlined plans for a major production at the West End to boost global revenues and strengthen a global IP value chain.