NEW YORK, NY--(Marketwire - Dec 14, 2012) - Korea Equity Fund, Inc. (NYSE: [ KEF ]) (the "Fund") announced that it would make a long term capital gains distribution of $1.053 per share to shareholders of record on December 24, 2012. The ex-dividend date is December 20, 2012.

The distribution is payable on January 4, 2012.

The Fund invests primarily in equity securities of companies domiciled in Korea and is designed for investors seeking long-term capital appreciation. The Manager of the Fund is Nomura Asset Management U.S.A. Inc., which is based in New York. Nomura Asset Management U.S.A. Inc. is a subsidiary of Nomura Asset Management Co., Ltd., which is one of the largest investment advisory companies in Japan in terms of assets under management and which serves as the Investment Adviser to the Fund.