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The Korea Fund, Inc. Reports Results For The Fiscal Quarter And Year Ended June 30, 2013

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, 2013.

   

At June 30,

2013

   

2012

Net Assets $334,828,664 $387,629,014
Shares Outstanding 8,689,284

 (a)

9,568,105
Net Asset Value ("NAV") $38.53 $40.51
Market Price $34.47 $36.56
Discount to NAV (10.54)% (9.75)%
 

Quarter ended June 30,

2013

2012

Net Investment Loss $(903,872) $(862,997)
Per Share $(0.07) $(0.10)
Net Realized and Change in Unrealized Loss $(38,825,329) $(34,206,470)
Per Share $(4.50) $(3.56)
 

Year ended June 30,

2013

2012

Net Investment Loss $(1,176,617)

 (b)

$(1,276,609)
Per Share $(0.13) $(0.14)
Net Realized and Change in Unrealized Loss $(17,598,032) $(86,617,576)
Per Share $(2.26)

 (b)

$(8.72)
 
(a)   Under its share repurchase program, the Fund repurchased 200,566 shares and 878,821 shares for the fiscal quarter and year ended June 30, 2013, respectively.
 
(b) Calculated on average shares outstanding.
 

Additional risks are associated with international investing, such as currency fluctuation, government regulations, economic changes and differences in liquidity, which may increase the volatility of an investment in the Fund. Foreign security markets generally exhibit greater price volatility and are less liquid than the U.S. market. Additionally, this Fund focuses its investments in certain geographical regions, thereby increasing its vulnerability to developments in that region. All of these factors potentially subject the Fund's shares to greater price volatility. The NAV of the Fund will fluctuate with the value of the underlying securities. Closed-end funds trade on their market value, not NAV, and closed-end funds often trade at a discount to their NAV.

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