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The Korea Fund, Inc. Reports Results For The Fiscal Quarter And Year Ended June 30, 2011

The Korea Fund, Inc. (the "Fund") (NYSE: KF), a non-diversified, closed-end investment company, which seeks long-term capital appreciation through investment in securities, primarily equity securities, of Korean companies, today announced its results for the fiscal quarter and year ended June 30, 2011.

 

At June 30,

2011

 

2010

Net Assets $ 549,088,581 $ 393,364,867
Shares Outstanding * 10,057,977 10,205,577
Net Asset Value ("NAV") $ 54.59 $ 38.54
Market Price $ 49.27 $ 34.74
Discount to NAV (9.75 )% (9.86 )%
 
 

Quarter ended June 30,

2011

2010

Net Investment Loss $ (825,793 ) $ (901,583 )
Per Share $ (0.08 ) $ (0.09 )
Net Realized and Change in Unrealized Gain (Loss) $ 10,262,690 $ (22,454,307 )
Per Share $ 1.04 $ (2.17 )
 
 

Year ended June 30,

2011

2010

Net Investment Income $ 94,027 $ 209,965
Per Share $ 0.01 $ 0.02
Net Realized and Change in Unrealized Gain $ 165,723,958 $ 94,279,733
Per Share $ 16.29 $ 9.01
 

* In March of 2010, the Fund instituted a share repurchase program. For the fiscal quarter ended June 30, 2011, the Fund repurchased 124,500 shares. As of June 30, 2011, since inception of the share repurchase program, 388,064 shares have been repurchased. The program allows the Fund to repurchase in the open market up to 5% of its common shares outstanding as of February 22, 2010. The program has no expiration.

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