The Korea Fund, Inc. Temporarily Halts Its Discount Management Program
March 23, 2020 at 04:56 pm EDT
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The Korea Fund, Inc. announced on March 23, 2020 that its Discount Management Program has been temporarily halted as from March 16, 2020. At a meeting of the Board of Directors on March 21, the very serious effects of the Covid 19 pandemic were considered on global economies, stock markets and the excessive volatility reflected in stock prices worldwide. Under such conditions the Board deemed that the Discount Management Program is currently unable to provide cost effective value to stockholders. Directors will continue to monitor the situation on a daily basis and will look to reinstate the program at the earliest opportunity.
The Korea Fund, Inc. (the Fund) is a closed-end, non-diversified management investment company. The Fund's investment objective is to seek long-term capital appreciation through investment in securities, primarily equity securities, of Korean companies. The Fund Primarily invests in equity securities listed on the Korea Stock Exchange. The Fund directly invests in foreign currencies or in securities that trade in, and receive revenues in, foreign currencies, or in derivatives that provide exposure to foreign currencies. It invests in various sectors, including automobile components, biotechnology, chemicals, construction & engineering, consumer staples distribution & retail, electronic equipment, instruments & components, entertainment, food products, industrial conglomerates, interactive media & services, marine transportation, oil, gas & consumable fuels, semiconductors & semiconductors equipment, and others. Its investment adviser is JPMorgan Asset Management (Asia Pacific) Limited.
THE KOREA FUND, INC. 
