NEW YORK, April 21, 2009 (GLOBE NEWSWIRE) -- The Korea Fund, Inc. (the "Fund") (NYSE:KF), a non-diversified, closed-end investment company, which seeks long-term capital appreciation through investing primarily in equity securities trading on the Korean stock exchanges, today announced its results for the fiscal quarter and six months ended December 31, 2008.
At December 31,
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2008 2007
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Net Assets $283,191,638 $832,072,083
Shares Outstanding 7,556,330 (a) 2,868,807 (b)
Net Asset Value ("NAV") $37.48 $290.04 (b)
Market Price $34.42 $265.10 (b)
Discount to NAV (8.16)% (8.59)%
Quarter ended December 31,
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2008 2007
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Net Investment Income $4,389,687 $6,081,499
Per Share (c) $1.76 $2.38 (b)
Net Realized and Change in
Unrealized Loss $(100,157,720) $(54,794,218)
Per Share $(47.34) $(22.88)(b)
Six Months ended December 31,
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2008 2007
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Net Investment Income $3,221,072 $3,883,769
Per Share (c) $1.28 $1.56 (b)
Net Realized and Change in
Unrealized Gain (Loss) $(229,897,214) $101,609,732
Per Share $(100.54) $41.47 (b)
(a) Inclusive of 5,117,854 shares projected to be issued in
connection with the Fund's capital gain distribution of $90.30
(comprised 80% on newly issued fund shares and 20% cash
distribution), declared on December 22, 2008. Projected shares
were based on the Fund's market price of $34.42 at
December 31, 2008.
