The Board of Directors of The Korea Fund, Inc. (NYSE:KF) (the “Fund”) announced today that it has approved a new transfer agent for the Fund, as well as, certain amendments to the Fund’s Dividend Reinvestment Plan (the “Plan”). American Stock Transfer & Trust Company, LLC (“AST”) will become the transfer agent for the Fund, effective as of September 17, 2012 (the “Effective Date”). The amended Plan and AST’s role as transfer agent for Participants under the Plan will also commence as of the Effective Date. Participants are not required to re-enroll in the Plan or to take any other action to ensure the continuity of related services to them. A copy of the full amended Plan for the Fund is available at http://www.thekoreafund.com. Shareholders of the Fund or Plan Participants may continue to use the current dedicated telephone number to contact the new transfer agent: (800) 254-5197, and may also contact the transfer agent at P.O. Box 922, Wall Street Station, New York, NY 10269-0560 or www.amstock.com. The Korea Fund, Inc. is a non-diversified, closed-end investment company. The Fund seeks long-term capital appreciation through investing primarily in equity securities trading on the Korean stock exchanges. Its shares are listed on the New York Stock Exchange under the symbol “KF.” RCM Capital Management LLC and RCM Asia Pacific Limited are the Fund's investment manager and sub-adviser, respectively. 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 net asset value of the Fund will fluctuate with the value of the underlying securities. Closed-end funds trade on their market value, not net asset value, and closed-end funds often trade at a discount to their net asset value.