Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
CITY OF LONDON INVESTMENT GROUP PLC
   2. Issuer Name and Ticker or Trading Symbol
KOREA FUND INC [KF] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
10 EASTCHEAP		 3. Date of Earliest Transaction (Month/Day/Year)
04/27/2006
(Street)

LONDON, X0 EC3M ILX		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $.01 per share (1) 05/15/2006   P   30,000 A $ 40.3299 0 D  
Common Stock, par value $.01 per share (1) 05/22/2006   P   33,300 A $ 36.3303 0 D  
Common Stock, par value $.01 per share (1) 05/23/2006   P   6,000 A $ 37.3848 0 D  
Common Stock, par value $.01 per share (1) 05/24/2006   P   9,200 A $ 36.9404 807,234 D  
Common Stock, par value $.01 per share (2) 05/01/2006   P   4,400 A $ 39.9662 0 D  
Common Stock, par value $.01 per share (2) 05/17/2006   P   2,300 A $ 39.4447 147,936 D  
Common Stock, par value $.01 per share (3)               1,341,044 D  
Common Stock, par value $.01 per share (4)               1,341,044 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
CITY OF LONDON INVESTMENT GROUP PLC
10 EASTCHEAP
LONDON, X0 EC3M ILX		     X    
CITY OF LONDON INVESTMENT MANAGEMENT CO LTD

 		       Joint Filer

Signatures

 By: /s/ Barry M. Olliff   06/09/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) These securities are beneficially owned by Free Emerging Markets Country Fund.
(2) These securities are beneficially owned by GFM (Institutional) Emerging Markets Country Fund.
(3) These securities are beneficially owned by Investable Emerging Market Country Fund.
(4) These securities are beneficially owned by Emerging Markets Country Fund.
 
Remarks:
Neither City of London Investment Group PLC ("CLIG") nor City of London Investment Management Company Limited ("CLIM") are
 the beneficial owners of any shares of KF as the term "beneficial owner" is defined in Rule 16a-1(a)(2).  CLIG is the parent
 holding company of CLIM, which provides investment advisory services to the funds listed in notes 4 through 9 below.  This
 filing shall not be deemed an admission by any of the listed funds that they are subject to reporting under Section 16(a).

This Form is Part Two of Two Parts.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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