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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
(Amendment No. 24)
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
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
March 31, 2008
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(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 / /.
*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.
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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.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
(B) |_|
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3 SEC USE ONLY
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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
SHARES 3,325,884
BENEFICIALLY ------ -------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 0
PERSON ------ -------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
3,325,884
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,325,884
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
|_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.59%
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14 TYPE OF REPORTING PERSON*
HC
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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.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
(B) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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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
SHARES 3,325,884
BENEFICIALLY ------ -------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 0
PERSON ------ -------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
3,325,884
------ -------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,325,884
------------ -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
|_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.59%
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14 TYPE OF REPORTING PERSON*
IA
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This Amendment No. 24 to Schedule 13D (this "Amendment No. 24") should be read
in conjunction with the Schedule 13D filed with the U.S. Securities and Exchange
Commission (the "SEC") on February 17, 2004 (the "Original Schedule 13D"), with
Amendment No. 1 to Schedule 13D filed with the SEC on March 1, 2004 ("Amendment
No. 1"), with Amendment No. 2 to Schedule 13D filed with the SEC on May 5, 2004
("Amendment No. 2"), with Amendment No. 3 to Schedule 13D filed with the SEC on
July 8, 2004 ("Amendment No. 3"), with Amendment No. 4 to Schedule 13D filed
with the SEC on August 31, 2004 ("Amendment No. 4"), with Amendment No. 5 to
Schedule 13D filed with the SEC on November 15, 2004 ("Amendment No. 5"), with
Amendment No. 6 to Schedule 13D filed with the SEC on December 23, 2004
("Amendment No. 6"), with Amendment No. 7 to Schedule 13D filed with the SEC on
May 18, 2005 ("Amendment No. 7"), with Amendment No. 8 to Schedule 13D filed
with the SEC on June 10, 2005 ("Amendment No. 8"), with Amendment No. 9 to
Schedule 13D filed with the SEC on July 5, 2005 ("Amendment No. 9"), with
Amendment No. 10 to Schedule 13D filed with the SEC on August 5, 2005
("Amendment No. 10"), with Amendment No. 11 to Schedule 13D filed with the SEC
on August 12, 2005 ("Amendment No. 11"), with Amendment No. 12 to Schedule 13D
filed with the SEC on September 14, 2005 ("Amendment No. 12"), with Amendment
No. 13 to Schedule 13D filed with the SEC on October 7, 2005 ("Amendment No.
13"), with Amendment No. 14 to Schedule 13D filed with the SEC on October 21,
2005 ("Amendment No. 14"), and with Amendment No. 15 to Schedule 13D filed with
the SEC on April 10, 2006 ("Amendment No. 15"), and with Amendment No. 16 to
Schedule 13D filed with the SEC on June 9, 2006 ("Amendment No. 16"), and with
Amendment No. 17 to Schedule 13D filed with the SEC on October 18, 2006
("Amendment No. 17"), and with Amendment No. 18 to Schedule 13D filed with the
SEC on November 8,2006 ("Amendment No. 18"), and with Amendment No. 19 to
Schedule 13D filed with the SEC on December 1 , 2006 ("Amendment No. 19"), and
with Amendment No. 20 to Schedule 13D filed with the SEC on July 9, 2007
("Amendment No. 20"), and with Amendment No. 21 to Schedule 13D filed with the
SEC on August 9, 2007 ("Amendment No. 21"), and with Amendment No. 22 to
Schedule 13D filed with the SEC on November 7, 2007 ("Amendment No. 22") and
with Amendment No. 23 to Schedule 13D filed with the SEC on January 9, 2008
("Amendment No. 23"), and, together with Amendment No. 1, Amendment No. 2,
Amendment No. 3, Amendment No. 4, Amendment No. 5, Amendment No. 6, Amendment
No. 7, Amendment No. 8, Amendment No. 9. Amendment No. 10, Amendment No. 11,
Amendment No. 12, Amendment No. 13, Amendment No. 14, Amendment No. 15,
Amendment No. 16, Amendment No. 17, Amendment 18, Amendment No. 19, Amendment
No. 20 , Amendment No. 21, Amendment No. 22 , Amendment No. 23 and, Amendment
No. 24 ( the "Amendments"), by City of London Investment Group PLC ("City of
London") and City of London Investment Management Company Limited relating to
the shares of common stock, par value $0.01 per share (the "Shares"), of The
Korea Fund, Inc., a Maryland corporation (the "Fund"). This Amendment No. 24
amends Item 5 of the Original Schedule 13D as amended by the Amendments. All
other information in the Original Schedule 13D and the Amendments remains in
effect. All capitalized terms used herein and not otherwise defined shall have
the meanings ascribed thereto in the Original Schedule 13D as amended by the
Amendments.
ITEM 5. INTERESTS IN SECURITIES OF THE ISSUER.
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Items 5(a) and 5(b) below are hereby amended and restated in their
entirety and Item 5(c) is hereby amended as follows:
(a) and (b). As of the date hereof, GEM, IEM, EWF, GFM, FREE, CEM and
Accounts
(Page 4 of 6 Pages)
owned directly 515,038, 693,497, 289,791, 60,311, 717,387, 415, and
1,049,445 Shares, respectively, representing approximately 1.80%,
2.42%, 1.01%, 0.21%, 2.50%, 0.001% and 3.66%, respectively, of the
Shares outstanding (based on the most recent Share information publicly
disclosed by the Fund).
As of the date hereof, CLIG, through its control of CLIM, is the
beneficial owner of 3,325,884 Shares, representing approximately 11.59%
of the Shares outstanding (based on the most recent Share information
publicly disclosed by the Fund).
As of the date hereof, CLIM, through GEM, IEM, EWF, GFM, FREE, CEM and
Accounts, is the beneficial owner 3,325,884 Shares, representing
approximately 11.59% of the Shares outstanding (based on the most
recent Share information publicly disclosed by the Fund).
(c). Except as described below, no transactions in the Shares were
effected by the Reporting Persons, or, to their knowledge, any of the
persons identified in Item 2, since the last filing.
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PORTFOLIO TRADE DATE TRAN TYPE PAR VALUE / SHARES TRADE PRICE
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Account 1/3/2008 Sell 9,700 26.3035
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Account 1/31/2008 Sell 60,000 23.4525
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GBL 1/31/2008 Sell 19,200 23.4525
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INV 1/31/2008 Sell 20,800 23.4525
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Account 2/1/2008 Sell 50,100 23.7179
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GBL 2/1/2008 Sell 11,000 23.7179
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Account 2/11/2008 Sell 5,710 23.3317
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GBL 2/11/2008 Sell 9,000 23.3317
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Account 2/25/2008 Sell 2,000 24.6
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Account 2/26/2008 Sell 25,000 24.5354
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EWF 3/13/2008 Sell 100,000 21.4998
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(Page 5 of 6 Pages)
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: April 10, 2008
CITY OF LONDON INVESTMENT GROUP PLC
/s/ Barry M. Olliff
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Name: Barry M. Olliff
Title: Director
CITY OF LONDON INVESTMENT MANAGEMENT
COMPANY LIMITED
/s/ Barry M. Olliff
--------------------------------
Name: Barry M. Olliff
Title: Director
(Page 6 of 6 Pages)