NPORT-P
    false
    
      
      
        
          0000748691
          XXXXXXXX
        
      
      
      
      
      
    
  
  
    
      Korea Fund, Inc.
      811-04058
      0000748691
      549300M4Y1IG0WPTKC03
      60 Victoria Embankment
      London
      GB
      EC4Y 0JP
      1-866-706-0510
      Korea Fund, Inc.
      549300M4Y1IG0WPTKC03
      2022-06-30
      2022-03-31
      N
    
    
      182501538.69
      597684.09
      181903854.60
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      1031769.69000000
      N
      
        
          
        
        
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
      
    
    
      
        SK, Inc.
        988400GMME8AOAFMDK34
        
        N/A
        
          
        
        15400.00000000
        NS
        
        3051790.59000000
        1.677694294445
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Wantedlab, Inc.
        N/A
        
        N/A
        
          
        
        13254.00000000
        NS
        
        373166.67000000
        0.205145004112
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        CJ CheilJedang Corp.
        9884008938PK154I3A92
        
        N/A
        
          
        
        5000.00000000
        NS
        
        1515754.82000000
        0.833272512742
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Hankook Tire & Technology Co. Ltd.
        9884001BIEVM09M7AH02
        
        N/A
        
          
        
        88000.00000000
        NS
        
        2429672.60000000
        1.335690552211
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        NICE Information Service Co. Ltd.
        N/A
        
        N/A
        
          
        
        76400.00000000
        NS
        
        1237969.12000000
        0.680562334823
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Pan Ocean Co. Ltd.
        988400HGOJIHDWPIAT45
        
        N/A
        
          
        
        136100.00000000
        NS
        
        779708.12000000
        0.428637491885
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        LG Chem Ltd.
        988400IES4EIG7O06940
        
        N/A
        
          
        
        12900.00000000
        NS
        
        5636869.11000000
        3.098817846601
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        K Car Co. Ltd.
        N/A
        
        N/A
        
          
        
        79500.00000000
        NS
        
        2121525.99000000
        1.166289738425
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Hwaseung Enterprise Co. Ltd.
        N/A
        
        N/A
        
          
        
        60400.00000000
        NS
        
        759287.54000000
        0.417411462593
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Samsung Engineering Co. Ltd.
        988400HDAY5KIVHGZ188
        
        N/A
        
          
        
        63800.00000000
        NS
        
        1369341.59000000
        0.752783162847
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        JYP Entertainment Corp.
        N/A
        
        N/A
        
          
        
        38900.00000000
        NS
        
        1951728.01000000
        1.072944833572
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        NAVER Corp.
        988400ULUQYDB2HQYJ61
        
        N/A
        
          
        
        33300.00000000
        NS
        
        9255037.30000000
        5.087873107665
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        SK IE Technology Co. Ltd.
        988400ZA9LM3JZBI5088
        
        N/A
        
          
        
        11200.00000000
        NS
        
        1153918.81000000
        0.634356436556
        Long
        EC
        CORP
        KR
        Y
        
        2
        
          N
          N
          N
        
      
      
        Hyundai Glovis Co. Ltd.
        988400U6RDXNJ5ZRN304
        
        N/A
        
          
        
        12300.00000000
        NS
        
        1939466.31000000
        1.066204074820
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Kia Corp.
        988400V8MJK9N7OI5X76
        
        N/A
        
          
        
        93300.00000000
        NS
        
        5651010.09000000
        3.106591722548
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        LG Household & Health Care Ltd.
        N/A
        
        N/A
        
          
        
        3800.00000000
        NS
        
        2680565.55000000
        1.473616683876
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        AfreecaTV Co. Ltd.
        N/A
        
        N/A
        
          
        
        9700.00000000
        NS
        
        1175594.78000000
        0.646272605154
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Suheung Co. Ltd.
        N/A
        
        N/A
        
          
        
        26700.00000000
        NS
        
        885962.20000000
        0.487049712029
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        KakaoBank Corp.
        N/A
        
        N/A
        
          
        
        22000.00000000
        NS
        
        929176.35000000
        0.510806300418
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        E-MART, Inc.
        988400SAX0Q74FRA9981
        
        N/A
        
          
        
        11900.00000000
        NS
        
        1374358.82000000
        0.755541339694
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        DL E&C Co. Ltd.
        N/A
        
        N/A
        
          
        
        22100.00000000
        NS
        
        2392192.17000000
        1.315086024570
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Yuhan Corp.
        N/A
        
        N/A
        
          
        
        44700.00000000
        NS
        
        2144576.57000000
        1.178961586446
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Zinus, Inc.
        N/A
        
        N/A
        
          
        
        30900.00000000
        NS
        
        1842246.43000000
        1.012758324473
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Korea Investment Holdings Co. Ltd.
        N/A
        
        N/A
        
          
        
        44000.00000000
        NS
        
        2826732.68000000
        1.553970742519
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        KT&G Corp.
        988400ZJV6ISYBLQX875
        
        N/A
        
          
        
        4200.00000000
        NS
        
        279426.24000000
        0.153612049955
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        SK Telecom Co. Ltd.
        9884003WEA1PHW006037
        
        N/A
        
          
        
        17700.00000000
        NS
        
        827621.14000000
        0.454977241587
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Kakao Corp.
        988400FTKUBQXKVZP434
        
        N/A
        
          
        
        40700.00000000
        NS
        
        3537586.45000000
        1.944756177805
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Samsung Biologics Co. Ltd.
        N/A
        
        N/A
        
          
        
        407.00000000
        NS
        
        61974.36000000
        0.034069844279
        Long
        
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Samsung Biologics Co. Ltd.
        N/A
        
        N/A
        
          
        
        6000.00000000
        NS
        
        4076862.80000000
        2.241218477181
        Long
        EC
        CORP
        KR
        Y
        
        2
        
          N
          N
          N
        
      
      
        Hyundai Motor Co.
        9884004RQX8PRBXQ8S60
        
        N/A
        
          
        
        55000.00000000
        NS
        
        3908780.19000000
        2.148816581482
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Hugel, Inc.
        N/A
        
        N/A
        
          
        
        26200.00000000
        NS
        
        2986859.65000000
        1.641999097032
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Dongjin Semichem Co. Ltd.
        N/A
        
        N/A
        
          
        
        30600.00000000
        NS
        
        979150.85000000
        0.538279330118
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        POSCO Holdings, Inc.
        988400E5HRVX81AYLM04
        
        N/A
        
          
        
        18750.00000000
        NS
        
        4497632.34000000
        2.472532728836
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Samsung Electro-Mechanics Co. Ltd.
        N/A
        
        N/A
        
          
        
        23000.00000000
        NS
        
        3096836.16000000
        1.702457689426
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Kangwon Land, Inc.
        N/A
        
        N/A
        
          
        
        112882.00000000
        NS
        
        2574613.43000000
        1.415370463512
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Samsung Fire & Marine Insurance Co. Ltd.
        988400JMBDK47EW0Z936
        
        N/A
        
          
        
        6608.00000000
        NS
        
        1190001.43000000
        0.654192530783
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        SK Innovation Co. Ltd.
        988400PXP70BWVSJVF07
        
        N/A
        
          
        
        28100.00000000
        NS
        
        4929498.63000000
        2.709947318510
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        SK Square Co. Ltd.
        N/A
        
        N/A
        
          
        
        10000.00000000
        NS
        
        465124.92000000
        0.255698220921
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Kakaopay Corp.
        N/A
        
        N/A
        
          
        
        17100.00000000
        NS
        
        2084243.71000000
        1.145794141956
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Hyundai Mobis Co. Ltd.
        988400HJA9E0ZVDHRS65
        
        N/A
        
          
        
        21700.00000000
        NS
        
        3824638.37000000
        2.102560376419
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        DL Holdings Co. Ltd.
        988400LJMYZ3ZOXJVE47
        
        N/A
        
          
        
        21300.00000000
        NS
        
        1068918.98000000
        0.587628548251
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        KB Financial Group, Inc.
        529900TKE4MXG3Q6GW86
        
        N/A
        
          
        
        96400.00000000
        NS
        
        4830980.87000000
        2.655788070364
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Korea Zinc Co. Ltd.
        988400D0HSQUB1I1VO41
        
        N/A
        
          
        
        3300.00000000
        NS
        
        1588459.30000000
        0.873241143511
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        SK Hynix, Inc.
        988400XAIK6XISWQV045
        
        N/A
        
          
        
        147900.00000000
        NS
        
        14227863.39000000
        7.821639305712
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        BGF retail Co. Ltd.
        N/A
        
        N/A
        
          
        
        13441.00000000
        NS
        
        1930589.16000000
        1.061323941840
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        ISC Co. Ltd.
        N/A
        
        N/A
        
          
        
        48600.00000000
        NS
        
        1177231.58000000
        0.647172421160
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        S-Oil Corp.
        988400QTUXYDN8W3MZ32
        
        N/A
        
          
        
        36400.00000000
        NS
        
        2888126.81000000
        1.587721610600
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Korea Electric Power Corp.
        988400QG33WS7JEIV602
        
        N/A
        
          
        
        44300.00000000
        NS
        
        825355.12000000
        0.453731517572
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Hana Financial Group, Inc.
        N/A
        
        N/A
        
          
        
        178300.00000000
        NS
        
        7091555.96000000
        3.898518794774
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        SKC Co. Ltd.
        N/A
        
        N/A
        
          
        
        25400.00000000
        NS
        
        3193737.19000000
        1.755728154866
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        HSD Engine Co. Ltd.
        N/A
        
        N/A
        
          
        
        101000.00000000
        NS
        
        759882.70000000
        0.417738646424
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        NCSoft Corp.
        N/A
        
        N/A
        
          
        
        6400.00000000
        NS
        
        2454440.01000000
        1.349306212008
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Innocean Worldwide, Inc.
        9884004U41HRH3VEBX04
        
        N/A
        
          
        
        32200.00000000
        NS
        
        1329463.91000000
        0.730860768686
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
      
        Samsung Electronics Co. Ltd.
        9884007ER46L6N7EI764
        
        N/A
        
          
        
        695000.00000000
        NS
        
        39769973.38000000
        21.86318342041
        Long
        EC
        CORP
        KR
        N
        
        2
        
          N
          N
          N
        
      
    
    
      2022-05-02
      Korea Fund, Inc.
      Neil S. Martin
      Neil S. Martin
      Treasurer and Principal Financial Officer
    
  
  XXXX

The Korea Fund, Inc.

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2022 (Unaudited)

The Korea Fund, Inc.

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2022 (Unaudited) (continued)

Percentages indicated are based on net assets.

The Korea Fund, Inc.

SCHEDULE OF PORTFOLIO INVESTMENTS

AS OF MARCH 31, 2022 (Unaudited) (continued)

A. Valuation of Investments—Investments are valued in accordance with U.S. generally accepted accounting principles (“GAAP”) and the Fund’s valuation policies set forth by, and under the supervision and responsibility of, the Board of Trustees of the Trust (the “Board”), which established the following approach to valuation, as described more fully below: (i) investments for which market quotations are readily available shall be valued at their market value and (ii) all other investments for which market quotations are not readily available shall be valued at their fair value as determined in good faith by the Board.

J.P. Morgan Investment Management Inc. (the “Administrator”) has established the J.P. Morgan Asset Management Americas Valuation Committee (“AVC”) to assist the Board with the oversight and monitoring of the valuation of the Fund’s investments. The Administrator implements the valuation policies of the Fund’s investments, as directed by the Board. The AVC oversees and carries out the policies for the valuation of investments held in the Fund. This includes monitoring the appropriateness of fair values based on results of ongoing valuation oversight including, but not limited to, consideration of macro or security specific events, market events, and pricing vendor and broker due diligence. The Administrator is responsible for discussing and assessing the potential impacts to the fair values on an ongoing basis, and, at least on a quarterly basis, with the AVC and the Board.

Equities and other exchange-traded instruments are valued at the last sale price or official market closing price on the primary exchange on which the instrument is traded before the net asset values (“NAV”) of the Fund are calculated on a valuation date.

Certain foreign equity instruments are valued by applying international fair value factors provided by an approved Pricing Service. The factors seek to adjust the local closing price for movements of local markets post-closing, but prior to the time the NAVs are calculated.

Valuations reflected in this report are as of the report date. As a result, changes in valuation due to market events and/or issuer-related events after the report date and prior to issuance of the report are not reflected herein.

The various inputs that are used in determining the valuation of the Fund’s investments are summarized into the three broad levels listed below.

A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input, both individually and in the aggregate, that is significant to the fair value measurement. The inputs or methodology used for valuing instruments are not necessarily an indication of the risk associated with investing in those instruments.

The following table represents each valuation input as presented on the Schedule of Portfolio Investments (“SOI”):