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NEW YORK--([ BUSINESS WIRE ])--The Board of Directors of The Korea Fund, Inc. (NYSE:KF) (the aFunda) announced today that it has approved a new transfer agent for the Fund, as well as, certain amendments to the Fundas Dividend Reinvestment Plan (the aPlana).

American Stock Transfer & Trust Company, LLC (aASTa) will become the transfer agent for the Fund, effective as of September 17, 2012 (the aEffective Datea). The amended Plan and ASTas 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 aKF.a

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.

The Fund's daily New York Stock Exchange closing price and net asset value per share, as well as other information, including updated portfolio statistics and performance are available at [ www.thekoreafund.com ] or by calling the Fund's shareholder servicing agent at (800) 254-5197.

The financial information contained herein is solely based upon the data available at the time of publication of this press release, and there is no assurance that any future results will be the same or similar to what is reported herein. Information that was obtained from third party sources we believe to be reliable is not guaranteed as to its accuracy or completeness. This press release contains no recommendations to buy or sell any specific securities and should not be considered investment advice of any kind. Past performance is no guarantee of future results and the investment returns generated by the Fund will fluctuate. There can be no assurance the Fund will meet its objective. In making any investment decision, individuals should utilize other information sources and the advice of their own professional adviser.