It seems that the official iRO community seems like it's going to host a free server called "Valkyrie." More news can be found here, but here's a quick overlook from the Gravity website:

"The free access to Valkyrie server is now the base International Ragnarok Online server. With Valkyrie`s rates for Experience and Drops set to 100% normal RO values, we welcome all those heroes that may have hung up their adventuring cloak due to monetary issues in making a month to month subscription."

When you think I finally had the ability to walk away from this game, it always finds a way to bring me back.