Korea Equity Fund, Inc. Announces Liquidating Distribution

NEW YORK, July 26, 2017 (GLOBE NEWSWIRE) -- Korea Equity Fund, Inc. (NYSE: KEF) (the “Fund”) announced a final distribution to its shareholders in connection with the dissolution and liquidation of the Fund.  The distribution of $7.0491 per share will be payable on August 7, 2017 (the “Final Distribution”) to holders of record at the close of business on July 17, 2017. The Final Distribution will be paid in cash and will represent all of the Fund’s net assets except for amounts set aside for reasonably ascertainable obligations of the Fund.

The amount of this distribution reported in this press release is not being provided for tax reporting purposes.  The actual amount for tax reporting purposes will depend upon the Fund’s investment experience during the entirety of its fiscal year and may be subject to changes based on tax regulations.  The Fund intends to send a Form 1099-DIV for the calendar year concerning the tax treatment of the dividend distributions that were paid to shareholders of record during the year ending December 31, 2017.

About the Fund

The Fund primarily invested in the securities of companies domiciled in Korea. Nomura Asset Management U.S.A. Inc. (“NAM USA”) acts as the Manager of the Fund pursuant to a management agreement.  Pursuant to such management agreement, NAM USA has retained its parent company, Nomura Asset Management Co., Ltd., to act as investment adviser to the Fund, and Nomura Asset Management Hong Kong Limited and Nomura Asset Management Singapore Limited, as investment sub-advisers to the Fund.

Contact:
Maria Premole
Nomura Asset Management U.S.A. Inc.
Worldwide Plaza
309 West 49th Street
New York, NY 10019-7316 (800) 833-0018

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