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CUSIP NO. 500634100 13D PAGE 1 of 6
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
(Rule 13d-101)
(Amendment No. 2)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
The Korea Fund, Inc
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
500634100
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(CUSIP Number)
Barry M. Olliff
c/o City of London Investment Management Company Limited
10 Eastcheap, London EC3M ILX, England
+44 207 711 0771
----------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
April 30, 2004
--------------
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), (f) or (g), check the following box [X].
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 or otherwise subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act.
(Page 1 of 6 Pages)
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CUSIP NO. 500634100 13D PAGE 2 of 6
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--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
City of London Investment Group PLC, a company incorporated under
the laws of England and Wales.
------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
(B) |_|
------------ -------------------------------------------------------------------
3 SEC USE ONLY
------------ -------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(D) OR 2(E)
|_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
England and Wales
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7 SOLE VOTING POWER
NUMBER OF 4,076,682
SHARES ------ -------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH ------ -------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 4,076,682
WITH ------ -------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,076,682
------------ -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
|_|
------------ -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.12%
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14 TYPE OF REPORTING PERSON*
HC
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(Page 2 of 6 Pages)
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CUSIP NO. 500634100 13D PAGE 3 of 6
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--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
City of London Investment Management Company Limited, a company
incorporated under the laws of England and Wales.
------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
(B) |_|
------------ -------------------------------------------------------------------
3 SEC USE ONLY
------------ -------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
------------ -------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E)
|_|
------------ -------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
England and Wales
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 4,048,662
SHARES ------ -------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH ------ -------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 4,048,662
WITH ------ -------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,048,662
------------ -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
|_|
------------ -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.05%
------------ -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA
============ ===================================================================
(Page 3 of 6 Pages)
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CUSIP NO. 500634100 13D PAGE 4 of 6
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This Amendment No. 2 to Schedule 13D (this "Amendment No. 2") should be read in
conjunction with the Schedule 13D filed with the Securities and Exchange
Commission on February 17, 2004 (the "Original Schedule 13D") and with Amendment
No. 1 to Schedule 13D filed with the securities and Exchange Commission on March
1, 2004 by City of London Investment Group PLC and City of London Investment
Management Company Limited relating to the shares of common stock, par value
$.01 per share (the "Shares"), of The Korea Fund, Inc., a Maryland corporation
(the "Fund"). This Amendment No. 2 replaces Item 5 of the Amendment No. 1 and of
the Original Schedule 13D. All other information in the Original Schedule 13D
and Amendment No. 1 remain in effect. All capitalized terms used herein and not
otherwise defined shall have the meanings ascribed thereto in the Original
Schedule 13D.
ITEM 5. INTERESTS IN SECURITIES OF THE ISSUER.
-------------------------------------
(a) and (b). As of April 30, 2004, EWF, GEM, IEM, GFM, FREE, the
Accounts and Global owned directly 123,886, 1,089,247, 1,105,727,
107,486, 306,494, 1,315,822 and 28,020 Shares, respectively,
representing approximately 0.28%, 2.44%, 2.47%, 0.24%, 0.69%, 2.94%
and 0.06%, respectively, of the 44.7 million Shares outstanding as of
February 27, 2004, as implied in the Fund's Form SC TO-I filed with
the Securities and Exchange Commission on February 27, 2004.
As of April 30, 2004, CLIG, through its control of CLIM, had sole
voting and dispositive power with respect to all 4,076,682 Shares
owned directly by the City of London Funds and the Accounts,
representing approximately 9.12% of the 44.7 million Shares
outstanding as of February 27, 2004, as implied in the Fund's Form SC
TO-I filed with the Securities and Exchange Commission on February 27,
2004.
As of April 30, 2004, CLIM, in its capacity as investment adviser to
the City of London Funds, had sole voting and dispositive power with
respect to all 4,048,662 Shares owned directly by the City of London
Funds and the Accounts, representing approximately 9.05% of the 44.7
million Shares outstanding as of February 27, 2004, as implied in the
Fund's Form SC TO-I filed with the Securities and Exchange Commission
on February 27, 2004.
(c). Information with respect to all transactions in the Shares
beneficially owned by the Reporting Persons that were effected during
the past 60 days is set forth in Annex A to this Schedule 13D.
(d). None
(Page 4 of 6 Pages)
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CUSIP NO. 500634100 13D PAGE 5 of 6
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Dated: May 5, 2004
CITY OF LONDON INVESTMENT GROUP PLC
/s/ Barry M. Olliff
-------------------------------------------
Name: Barry M. Olliff
Title: Director
CITY OF LONDON INVESTMENT MANAGEMENT COMPANY LIMITED
/s/ Barry M. Olliff
-------------------------------------------
Name: Barry M. Olliff
Title: Director
(Page 5 of 6 Pages)
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CUSIP NO. 500634100 13D PAGE 6 of 6
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ANNEX A
INFORMATION WITH RESPECT TO TRANSACTIONS
IN THE FUND'S COMMON STOCK
DURING THE PAST SIXTY DAYS
Number of Shares City of London
of Common Stock Fund which Price Per Share
Date Purchased/(Sold)(1) Purchased/(Sold)(1) (US$)
---- ------------------- ------------------- -----
4/30/04 14,000 Accounts 19.6
4/29/04 73,900 GEM 19.95
4/28/04 74,300 Accounts 20.77
4/27/04 135,000 Accounts 21.35
4/26/04 23,400 Accounts 21.49
4/23/04 40,400 Accounts 21.80
4/21/04 29,000 Accounts 21.67
4/20/04 29,000 Accounts 21.54
4/19/04 22,400 GEM 21.24
4/16/04 7,000 GEM 21.08
4/15/04 40,615 GEM 21.63
4/15/04 7,385 IEM 21.63
4/14/04 9,300 GEM 21.49
4/13/04 12,600 Accounts 22.02
4/12/04 1,300 Accounts 21.97
4/8/04 25,300 Accounts 21.99
4/5/04 146,000 FREE 21.99
4/5/04 114,500 Accounts 21.99
4/2/04 84,300 Accounts 21.74
4/5/04 66,700 Accounts 21.48
3/31/04 157,200 Accounts 21.17
3/22/04 5,040 Accounts 19.9
3/22/04 4,560 EWF 19.9
3/11/04 49,000 Accounts 19.875
3/2/04 (4,380)(1) Global(1) 21.91
2/27/04 (22,704)(1) EWF(1) 21.91
2/27/04 (178,100)(1) GEM(1) 21.91
2/27/04 (20,452)(1) GFM(1) 21.91
2/27/04 (208,982)(1) IEM(1) 21.91
2/27/04 (28,635)(1) FREE(1) 21.91
2/27/04 (89,195)(1) Accounts(1) 21.91
(1) Refers to shares sold to the company in the Tender Offer.
(Page 6 of 6 Pages)