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The Korea Fund, Inc. Reports Results For The Fiscal Quarter And Nine Months Ended March 31, 2010

The Korea Fund, Inc. (the "Fund") (NYSE: KF), a non-diversified, closed-end investment company, which seeks long-term capital appreciation through investing primarily in equity securities trading on the Korean stock exchanges, today announced its results for the fiscal quarter and nine months ended March 31, 2010.

At March 31,


Net Assets $424,590,454 $258,031,544
Shares Outstanding 10,432,841 10,446,041
Net Asset Value ("NAV") $40.70 $24.70
Market Price $36.70 $22.84
Discount to NAV (9.83)% (7.53 )%

Quarter ended March 31,


Net Investment Income $705,629 $(1,458,799 )
Per Share (b) $0.07 $(0.15 ) (a)
Net Realized and Change in Unrealized Gain (Loss) $11,932,124 $(23,543,979 )
Per Share $1.15 $(2.26 ) (a)

Nine months ended March 31,


Net Investment Income $1,111,548 $1,762,273
Per Share (b) $0.11 $0.16 (a)
Net Realized and Change in Unrealized Gain (Loss) $116,734,040 $(253,441,193 )
Per Share $11.18 $(24.27 ) (a)
(a) Adjusted for the 1-for-10 reverse stock split which occurred on December 22, 2008 and Fund shares issued on January 29, 2009.
(b) Calculated on average shares outstanding.

RCM Capital Management LLC and RCM Asia Pacific Limited are the Fund's investment manager and sub-adviser, respectively.

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