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The Korea Fund, Inc. Reports Results For The Fiscal Quarter Ended September 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 ended September 30, 2011.

At September 30,


Net Assets $421,191,309 $469,452,560
Shares Outstanding * 9,987,077 10,205,577
Net Asset Value ("NAV") $42.17 $46.00
Market Price $37.17 $42.00
Discount to NAV (11.86)% (8.70)%

Quarter ended September 30,


Net Investment Loss $(1,532,489) $(696,995)
Per Share $(0.15) $(0.07)
Net Realized and Change in Unrealized Loss $(123,050,113) $(76,784,688)
Per Share $(12.30) $7.53

* In March of 2010, the Fund instituted a share repurchase program. For the fiscal quarter ended September 30, 2011, the Fund repurchased 70,900 shares. As of September 30, 2011, since inception of the share repurchase program, 458,964 shares have been repurchased. The program allowed the Fund to repurchase in the open market up to 5% of its common shares outstanding as of February 22, 2010. On October 31, 2011, the Fund announced a new share repurchase program commencing November 1, 2011. Under the new program, the Fund is authorized to repurchase in each twelve month period ended October 31 up to 10% of its common shares outstanding as of October 31 the prior year.

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