NOTICE OF GUARANTEED DELIVERY
FOR TENDER OF SHARES OF COMMON STOCK OF
THE KOREA FUND, INC.
PURSUANT TO THE OFFER TO PURCHASE
DATED JANUARY 19, 2006
This form, or one substantially equivalent hereto, must be used to accept
the Offer (as defined below) if a shareholder's certificates for shares of
common stock, par value $0.01 per share (the "Shares") of The Korea Fund, Inc.,
are not immediately available or time will not permit the Letter of Transmittal
and other required documents to be delivered to the Depositary on or before
12:00 midnight, Eastern time, on the Expiration Date. The "Expiration Date" is
February 16, 2006, unless the Fund, in its sole discretion, extends the period
during which the Offer is open, in which case "Expiration Date" shall mean the
last date the Offer, as so extended by the Fund, shall expire. This form may be
delivered by hand or overnight courier or transmitted by facsimile transmission
or mail to the Depositary at the appropriate address set forth below and must be
received by the Depositary on or before 12:00 midnight, Eastern time, on the
Expiration Date. See Section 4, "Procedures for Tendering Shares," of the Offer
to Purchase dated January 19, 2006 (the "Offer to Purchase").
The Depositary:
THE COLBENT CORPORATION
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By Registered, Certified
or Express Mail
By First Class Mail: or Overnight Courier: By Hand:
The Colbent Corporation The Colbent Corporation The Colbent Corporation
Attn: Corporate Actions Attn: Corporate Actions Attn: Corporate Actions
POB 859208 161 Bay State Drive 161 Bay State Drive
Braintree, MA 02185-9208 Braintree, MA 02184 Braintree, MA 02184
</Table>
DELIVERY OF THIS INSTRUMENT TO AN ADDRESS
OTHER THAN THOSE SHOWN ABOVE DOES NOT
CONSTITUTE A VALID DELIVERY
Ladies and Gentlemen:
The undersigned hereby tenders to The Korea Fund, Inc. (the "Fund"), upon
the terms and subject to the conditions set forth in its Offer to Purchase,
dated January 19, 2006, and the related Letter of Transmittal (which, together,
constitute the "Offer"), receipt of which is hereby acknowledged, the number of
Shares specified below and all Shares that may be held in the name(s) of the
registered holder(s) by the Fund's transfer agent pursuant to the dividend
reinvestment plan pursuant to the guaranteed delivery procedures set forth in
Section 4, "Procedures for Tendering Shares," of the Offer to Purchase.
<Table>
Number of Shares Tendered:
- ------------------------------------------------------------------------------------------------------------------
Certificate Nos. (if available):
- -------------------------------------------------------- --------------------------------------------------------
- -------------------------------------------------------- --------------------------------------------------------
Name(s) of Record Holder(s): -----------------------------------------------
Address(es): ------------------------------
- ------------------------------------------------------------------------------------------------------------------
City State Zip Code
Area Code and Telephone Number(s): ------------------------------
Taxpayer Identification or Social Security
Number(s): ------------------------------
If Shares will be tendered by book-entry transfer to The Depository Trust Company, please check box: [ ]
The Depository Trust Company
Account Number: -----------------------------------------------
The undersigned also tenders all uncertified Shares that may be held in the name(s) of the registered
holder(s) by the Fund's transfer agent pursuant to the Fund's Dividend Reinvestment Plan:
[ ] Yes [ ] No
(Note: If neither of these boxes is checked, any such uncertificated Shares will NOT be tendered.)
Dated: ----------------------------------------- , 2006
--------------------------------------------------------
SIGNATURE
</Table>
YOU MUST PROVIDE THE INFORMATION REQUESTED ABOVE. FAILURE TO FURNISH THE
INFORMATION REQUESTED REGARDING ACCOUNT INFORMATION WILL RESULT IN AN INCOMPLETE
PURCHASE REQUEST WHICH WILL MEAN THE FUND CANNOT PURCHASE YOUR SHARES.
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GUARANTEE
The undersigned, a member firm of a registered national securities
exchange, a member of the National Association of Securities Dealers, Inc., or a
commercial bank or trust company having an office, branch, or agency in the
United States, hereby: (a) guarantees to deliver to the Depositary certificates
representing the Shares tendered hereby, in proper form for transfer (or tender
shares pursuant to the procedure for book-entry transfer) into the Depositary's
account at The Depository Trust Company, together with (i) a properly completed
and duly executed Letter of Transmittal with any required signature guarantees
and (ii) other required documents, all of which must be received by the
Depositary prior to 5:00 p.m., Eastern time, on the third NYSE trading day after
the date of receipt by the Depositary of this Notice of Guaranteed Delivery,
properly completed and duly executed; and (b) represents that such tender of
Shares complies with Rule 14e-4 under the Securities Exchange Act of 1934, as
amended.
Name of Firm: ------------------------------------------------------------
(PLEASE PRINT)
Authorized
Signature: ------------------------------------------------------------
Name: ------------------------------------------------------------
(PLEASE PRINT)
Title: ------------------------------------------------------------
- --------------------------------------------------------------------------------
Address: ------------------------------------------------------------
- --------------------------------------------------------------------------------
CITY STATE ZIP CODE
Area Code and Telephone
Number: ------------------------------------------------------------
Dated: ------------------------------------------------------------
DO NOT SEND SHARE CERTIFICATES WITH THIS FORM.
YOUR SHARE CERTIFICATES MUST BE SENT WITH THE LETTER OF TRANSMITTAL.
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