KEF Korea Equity Fund, Inc.

Korea Equity Fund, Inc. Declares $1.252 Long Term Capital Gains Distribution

NEW YORK, NY--(Marketwired - Dec 19, 2013) -  Korea Equity Fund, Inc. (NYSE: KEF) (the "Fund") announced that it would make a long term capital gains distribution of $1.252 per share to shareholders of record on December 30, 2013. The ex-dividend date is December 26, 2013.

The distribution is payable on January 17, 2014.

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.

Contact: Neil A. Daniele Nomura Asset Management U.S.A. Inc. Worldwide Plaza 309 West 49th Street New York, NY 10019 (212) 667-1873