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The Korea Fund, Inc. Reports Results For The Fiscal Quarter And Nine Months Ended March 31, 2012

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 nine months ended March 31, 2012 and notification of semi-annual portfolio manager conference calls and website updates.

At March 31,


Net Assets $425,561,361 $545,671,314
Shares Outstanding 9,642,027


Net Asset Value ("NAV") $44.14 $53.59
Market Price $40.55 $48.30
Discount to NAV (8.13)% (9.87)%

Quarter ended March 31,


Net Investment Loss $(793,316) $(207,811)
Per Share $(0.08) $(0.02)
Net Realized and Change in Unrealized Gain $51,467,219 $51,503,850
Per Share $5.22 $5.06

Nine Months ended March 31,


Net Investment Income (Loss) $(413,612) $919,820
Per Share $(0.04) $0.09
Net Realized and Change in Unrealized Gain (Loss) $(52,411,106) $155,461,268
Per Share $(5.16) $15.25

Under its share repurchase program, the Fund repurchased 246,850 shares and 415,950 shares for the fiscal quarter and nine months ended March 31, 2012, respectively.

Notification of Semi-Annual Portfolio Manager Conference Calls In order to provide additional communication to its shareholders, the Fund will begin holding semi-annual portfolio manager conference calls. The Fund will issue a press release announcing the date, time and dial-in details prior to each call. The initial conference call is scheduled to occur in September 2012.

Website Updates: Shares Outstanding & Unadjusted NAV Shares outstanding will change from being updated monthly to daily on the Fund’s website at In addition, the Fund’s daily “unadjusted” NAV* will also be available on the website. These changes will go into effect on or about July 15, 2012.* Unadjusted NAV does not reflect fair valuing of foreign securities using modeling tools provided by third party vendors.

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

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