Korea Equity Fund (KEF) N-PX Annual report of proxy voting record

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT

INVESTMENT COMPANY

Investment Company Act file number  811-08002

Korea Equity Fund, Inc.
(Exact name of registrant as specified in charter)
Two World Financial Center, Building B, New York, New York	10281
(Address of principal executive offices)	(Zip code)
Mr. Shigeru Shinohara Korea Equity Fund, Inc. Two World Financial Center, Building B New York, New York 10281
(Name and address of agent for service)

Registrant's telephone number, including area code:  (800) 833-0018

Date of fiscal year end: October 31

Date of reporting period: July 1, 2009 – June 30, 2010

Item 1.                      Proxy Voting Record

PROXY VOTING REPORT

FOR THE PERIOD JULY 1, 2009 TO JUNE 30, 2010

KOREA EQUITY FUND  (A/C 8148009)

SEC. ID	COMPANY NAME	MTG DATE		DETAILS	PROPOSED BY	VOTE CAST      WITH/AGAINST MGMT
096770	SK ENERGY CO LTD (KOR)	11-Sep-09		EGM		Vote For the Proposal
			1.	Approve the spin off	MGMT	WITH MANAGEMENT
023530	LOTTE SHOPPING CO (KOR)	20-Nov-09		EGM		Vote For the Proposal
			1.	Approve the physical division	MGMT	WITH MANAGEMENT
001800	ORION CORP (KOR)	05-Feb-10		EGM		Vote For the Proposal
			1.	Elect the Directors	MGMT	WITH MANAGEMENT
010130	KOREA ZINC CO LTD (KOR)	26-Feb-10		AGM		Vote For All Proposals
			1	Approve the financial statements	MGMT	WITH MANAGEMENT
			2	Elect the Director	MGMT	WITH MANAGEMENT
			3	Elect the Audit Committee Member	MGMT	WITH MANAGEMENT
			4	Approve the remuneration for the Director	MGMT	WITH MANAGEMENT
033780	KT & G CORP (KOR)	26-Feb-10		AGM		Vote For All Proposals
			1	Approve the financial statements	MGMT	WITH MANAGEMENT
			2	Amend the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Elect the Representative Director	MGMT	WITH MANAGEMENT
			4	Elect the Outside Director	MGMT	WITH MANAGEMENT
			5	Elect the Audit Committee Member	MGMT	WITH MANAGEMENT
			6	Approve the remuneration for the Director	MGMT	WITH MANAGEMENT
			7	Amend the Articles on retirement allowance for the Executive Director	MGMT	WITH MANAGEMENT
			8	Amend the Articles on retirement allowance for the Director	MGMT	WITH MANAGEMENT
005490	POSCO (KOR)	26-Feb-10		AGM		Vote For All Proposals
			1.	Approve the financial statements	MGMT	WITH MANAGEMENT
			2.	Approve the partial amendment to Articles of Incorporation	MGMT	WITH MANAGEMENT
			3.	Elect the Directors Internal Executive Directors	MGMT	WITH MANAGEMENT
			4.	Approve the limit of remuneration for Directors	MGMT	WITH MANAGEMENT
004170	SHINSEGAE CO LTD (KOR)	05-Mar-10		AGM		Vote For All Proposals
			1	Approve the financial statements	MGMT	WITH MANAGEMENT
			2	Amend the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Appointment of Messrs. Yong Jin, Chung, Kun Hyun, park, Byung Ryul, Choi and Young Ho, Moon as the Directors	MGMT	WITH MANAGEMENT
			4	Appointment of Young Ho, Moon as an Outside Director to be a Member of the Audit Committee	MGMT	WITH MANAGEMENT
			5	Approve the remuneration for a Director	MGMT	WITH MANAGEMENT
086280	GLOVIS CO LTD (KOR)	12-Mar-10		AGM		Vote For All Proposals
			1	Approve the 9th B/S, I/S and proposed disposition of retained earnings	MGMT	WITH MANAGEMENT
			2	Election of Hyungho Kim as the Director	MGMT	WITH MANAGEMENT
			3	Approve the limit of remuneration for the Directors	MGMT	WITH MANAGEMENT
			4	Approve the limit of remuneration for the Auditors	MGMT	WITH MANAGEMENT
012330	HYUNDAI MOBIS (KOR)	12-Mar-10		AGM		Vote For All Proposals
			1.	Approve the 33rd balance sheet, I/S and proposed disposition of retained earnings	MGMT	WITH MANAGEMENT
			2.	Election of Monggu-Jeong and Taehwan Jeong as the External Directors and	MGMT	WITH MANAGEMENT
			3.	Election of the Member of Audit Committee: Yoondae Eo	MGMT	WITH MANAGEMENT
			4.	Approve the limit of remuneration for the Directors	MGMT	WITH MANAGEMENT
005380	HYUNDAI MOTOR CO (KOR)	12-Mar-10		AGM		Vote For All Proposals
			1	Approve the 42nd B/S, I/S and proposed disposition of retained earnings	MGMT	WITH MANAGEMENT
			2	Election of Messrs. Euisun Jung, Seungsuk Yang (External) Seongil Nam,	MGMT	WITH MANAGEMENT
			3	Election of Seongil Nam as the Member of the Audit Committee	MGMT	WITH MANAGEMENT
			4	Approve the remuneration limit of the Directors	MGMT	WITH MANAGEMENT
034220	LG DISPLAY CO LTD (KOR)	12-Mar-10		AGM		Vote For All Proposals
			1	Approve the financial statements: expected division ratio: KRW 500 E87per share, the 25th B/S, I/S and the proposed disposition of retained earnings	MGMT	WITH MANAGEMENT
			2	Approve the partial amendment to the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Elect Messrs. Youngsoo Kwon, Dohyun Jung (Externals) Taesik Ahn as the	MGMT	WITH MANAGEMENT
			4	Elect Taesik Ahn as the Member of the Audit Committee	MGMT	WITH MANAGEMENT
			5	Approve the remuneration limit of the Directors	MGMT	WITH MANAGEMENT
096770	SK ENERGY CO LTD (KOR)	12-Mar-10		AGM		Vote For All Proposals
			1.	Approve the financial statement and the statement of appropriation of unappropriated retained earnings	MGMT	WITH MANAGEMENT
			2.	Approve the partial amendment to Articles of incorporation	MGMT	WITH MANAGEMENT
			3.	Election of Youngju Kim, Jaehwan Lee, Hyuk Choi,Ingu Han  V as a  External	MGMT	WITH MANAGEMENT
			4.	Election of Jaehwan Lee, Myunghae Choi Ingu Han as the Audit Committee Member	MGMT	WITH MANAGEMENT
			5.	Approve the limit of remuneration for the Directors	MGMT	WITH MANAGEMENT
000100	YUHAN CORP (KOR)	12-Mar-10		AGM		Vote For All Proposals
			1.	Approve the 87th B/S, I/S and the proposed disposition of retained earnings	MGMT	WITH MANAGEMENT
			2.	Approve the partial amendment to Articles of Incorporation	MGMT	WITH MANAGEMENT
			3.	Elect Sooneok Hong as a  Director	MGMT	WITH MANAGEMENT
			4.	Approve the limit of remuneration for the Directors	MGMT	WITH MANAGEMENT
			5.	Approve the limit of remuneration for the Auditors	MGMT	WITH MANAGEMENT
090430	AMOREPACIFIC CORP (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1.	Approve the financial statements	MGMT	WITH MANAGEMENT
			2.	Elect the Outside Director who is an Audit Committee Member	MGMT	WITH MANAGEMENT
			3.	Approve the remuneration for Director	MGMT	WITH MANAGEMENT
030000	CHEIL WORLDWIDE INC (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1	Approve the financial statements	MGMT	WITH MANAGEMENT
			2	Approve the change of par value	MGMT	WITH MANAGEMENT
			3	Amend the Articles of Incorporation	MGMT	WITH MANAGEMENT
			4	Election of one Executive Director and one Outside Director	MGMT	WITH MANAGEMENT
			5	Approve the remuneration of a Director	MGMT	WITH MANAGEMENT
			6	Approve the remuneration of an Auditor	MGMT	WITH MANAGEMENT
035760	CJ HOME SHOPPING (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1	Approve the financial statements	MGMT	WITH MANAGEMENT
			2	Amend the Articles of incorporation	MGMT	WITH MANAGEMENT
			3	Approve the remuneration for Director	MGMT	WITH MANAGEMENT
005270	DAEGU BANK LTD (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1	Approve the 53rd B/S, I/S, and proposed disposition of retained earnings, cash dividend: KRW 160 per share	MGMT	WITH MANAGEMENT
			2	Approve the partial amendment to the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Election of Ik Hyun Jang as an Outside Director	MGMT	WITH MANAGEMENT
			4	Election of Ik Hyun Jang as an Outside Director, who is an Audit Committee	MGMT	WITH MANAGEMENT
019680	DAEKYO CO LTD (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1	Approve the financial statements expected cash dividend: ordinary shares: KRW 100 per 1 shares preferred shares: KRW 110 per 1 shares	MGMT	WITH MANAGEMENT
			2	Approve the partial amendment to the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Election of 2 inside Directors and 1 outside Director	MGMT	WITH MANAGEMENT
			4	Approve the limit of the remuneration for the Directors	MGMT	WITH MANAGEMENT
			5	Approve the partial amendment on the retirement benefit plan for the Directors	MGMT	WITH MANAGEMENT
103150	HITE BREWERY CO LTD (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1	Approve the 2nd balance sheet, income statement and proposed disposition of retained earning for the FYE DEC 2009	MGMT	WITH MANAGEMENT
			2	Amend the Articles of Incorporation as specified	MGMT	WITH MANAGEMENT
			3	Election of Mundeok Park, Janggyu Lee  External  Jihong Yoo, Junmyung Jeong	MGMT	WITH MANAGEMENT
			4	Approve the remuneration and bonus limit of the Directors	MGMT	WITH MANAGEMENT
008770	HOTEL SHILLA LTD. (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1	Approve the financial statements	MGMT	WITH MANAGEMENT
			2	Approve the partial amendment to the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Election of Jungho Cha as a Director	MGMT	WITH MANAGEMENT
			4	Election of Byungtae Jung as the Auditors	MGMT	WITH MANAGEMENT
			5	Approve the limit of remuneration for the Directors	MGMT	WITH MANAGEMENT
			6	Approve the limit of remuneration for the Auditors	MGMT	WITH MANAGEMENT
069960	HYUNDAI DEPT. STORE CO (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1.	Approve the financial statements	MGMT	WITH MANAGEMENT
			2.	Amend the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3.	Election of Jiseon Jeong (External) Hakrae Lee, Youngsoo Kim as a Directors	MGMT	WITH MANAGEMENT
			4.	Election of Youngsoo Kim as a Audit Committee	MGMT	WITH MANAGEMENT
			5.	Approve the remuneration for Director	MGMT	WITH MANAGEMENT
000270	KIA MOTORS CORP (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1	Approve the financial statements	MGMT	WITH MANAGEMENT
			2	Approve the partial amendment to the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Election of Directors Candidates: Jaelock Lee, Euisun Jeong [External]	MGMT	WITH MANAGEMENT
			4	Election of Auditor Committee Member: Dongseong Jo [External]	MGMT	WITH MANAGEMENT
			5	Approve the limit of remuneration for the Directors	MGMT	WITH MANAGEMENT
051910	LG CHEM LTD (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1	Approve the financial statements: expected dividend: KRW 3,500 per 1 Ordinary Share, KRW 3,550 per 1 Preference Share	MGMT	WITH MANAGEMENT
			2	Approve the partial amendment to Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Election of Directors: Executive Director(1), Outside Directors(4)	MGMT	WITH MANAGEMENT
			4	Election of Audit Committee Members: Outside Directors(3)	MGMT	WITH MANAGEMENT
			5	Approve the limit of remuneration for Directors	MGMT	WITH MANAGEMENT
066570	LG ELECTRONICS INC. (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1	Approve the financial statements	MGMT	WITH MANAGEMENT
			2	Approve the partial amendment to the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Election of Messrs. Yong Nam as a Inside Director and In Ki Joo and Jong Nam	MGMT	WITH MANAGEMENT
			4	Election of In Ki Joo and Kyu Min Lee as an Audit Committee Member	MGMT	WITH MANAGEMENT
			5	Approve the limit of remuneration for the Directors	MGMT	WITH MANAGEMENT
051900	LG HOUSEHOLD & HEALTHCARE (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1	Approve the financial statements expected dividend ordinary share KRW 2,500 per 1 share preferred share KRW 2,550 per 1 share	MGMT	WITH MANAGEMENT
			2	Approve the partial amendment to the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Election of one Executive Director, one Non-Executive Director, two outside	MGMT	WITH MANAGEMENT
			4	Election of one outside Audit Committee Members	MGMT	WITH MANAGEMENT
			5	Approve the limit of remuneration for the Directors	MGMT	WITH MANAGEMENT
072870	MEGASTUDY CO LTD (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1	Approve the balance sheet, income statements and statement of appropriation of retained earnings For FYE DEC 2009	MGMT	WITH MANAGEMENT
			2	Approve the partial amendment to the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Appointment of one Internal Director: Hong, Suk-Bum	MGMT	WITH MANAGEMENT
			4	Approve the remuneration for the Director	MGMT	WITH MANAGEMENT
			5	Approve the remuneration for the Auditor	MGMT	WITH MANAGEMENT
035420	NHN CORP (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1	Approve the 11th financial statements and the proposed disposition of retained earnings	MGMT	WITH MANAGEMENT
			2	Election of Hyunsoon Do as an External Director	MGMT	WITH MANAGEMENT
			3	Election of Hyunsoon Do as a Member of Audit Committee	MGMT	WITH MANAGEMENT
			4	Approve the remuneration limit for the Directors	MGMT	WITH MANAGEMENT
004370	NONG SHIM CO (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1	Approve the balance sheet, income statement and statement of appropriations of retained earnings for FYE DEC 2009	MGMT	WITH MANAGEMENT
			2	Approve the revision to the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3.1	Appointment of Sang-Yoon, Lee as an inside Director	MGMT	WITH MANAGEMENT
			3.2	Appointment of Jong-Suk, Yoo as an inside Director	MGMT	WITH MANAGEMENT
			3.3	Appointment of Suk-Chul, Yoon as an outside Director	MGMT	WITH MANAGEMENT
			4	Approve the Director remuneration limit	MGMT	WITH MANAGEMENT
			5	Approve the Auditor remuneration limit	MGMT	WITH MANAGEMENT
000830	SAMSUNG C&T CORP (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1	Approve the 59th income statement, balance sheet and the disposition of retained earnings	MGMT	WITH MANAGEMENT
			2	Election of Jung Yun-Joo as a Director	MGMT	WITH MANAGEMENT
			3	Approve the remuneration limit for the Directors	MGMT	WITH MANAGEMENT
029780	SAMSUNG CARD CO LTD (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1	Approve the 27th balance sheet, income statement and the disposition of retained earnings	MGMT	WITH MANAGEMENT
			2	Election of Usub No as a Director	MGMT	WITH MANAGEMENT
			3	Election of Usub No as an Audit Committee Member	MGMT	WITH MANAGEMENT
			4	Approve the limit of remuneration for the Directors	MGMT	WITH MANAGEMENT
005930	SAMSUNG ELECTRONICS CO LTD	19-Mar-10		AGM		Vote For All Proposals
			1	Approve the financial statements	MGMT	WITH MANAGEMENT
			2.1	Election of Lee, Inho as an outside Director	MGMT	WITH MANAGEMENT
			2.2	Election of Lee, Inho as an Audit Committee Member	MGMT	WITH MANAGEMENT
			3	Approve the remuneration for Director	MGMT	WITH MANAGEMENT
028050	SAMSUNG ENG CO LTD (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1	Approve the financial statements	MGMT	WITH MANAGEMENT
			2	Approve the partial amendment to Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Election of 2 Inside Directors and 2 Outside Directors	MGMT	WITH MANAGEMENT
			4	Election of 3 Audit Committee Members	MGMT	WITH MANAGEMENT
			5	Approve the limit of remuneration for the Directors	MGMT	WITH MANAGEMENT
			6	Approve the limit of remuneration for the Auditors	MGMT	WITH MANAGEMENT
006400	SAMSUNG SDI CO (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1.	Approve the financial statements	MGMT	WITH MANAGEMENT
			2.	Amend the Articles of incorporation	MGMT	WITH MANAGEMENT
			3.	Election of Chihoon Choi as a Director (Inside Director)	MGMT	WITH MANAGEMENT
			4.	Approve the remuneration for the Director	MGMT	WITH MANAGEMENT
021240	WOONGJIN COWAY CO LTD (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1	Approve the 21st balance sheet, income statement and the disposition of retained earnings as follows: expected cash dividend for 1 share: KRW 1,010	MGMT	WITH MANAGEMENT
			2	Amend the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Election of Juseok Lee and Gwangsu Shin as the Directors	MGMT	WITH MANAGEMENT
			4	Approve the endowment of stock purchase option	MGMT	WITH MANAGEMENT
			5	Approve the remuneration limit of the Directors	MGMT	WITH MANAGEMENT
			6	Approve the remuneration limit of the Auditors	MGMT	WITH MANAGEMENT
095720	WOONGJIN THINKBIG CO LTD (KOR)	19-Mar-10		AGM		Vote For All Proposals
			1	Approve the financial statements	MGMT	WITH MANAGEMENT
			2	Election of Suk Keum Yoon, Bong Soo Choi and Sang In Lee as the Inside Directors and Jin Hwan Kim and Eun Ki Yoon as the Outside Directors	MGMT	WITH MANAGEMENT
			3	Election of the Auditors	MGMT	WITH MANAGEMENT
			4	Approve the stock option for staff	MGMT	WITH MANAGEMENT
			5	Approve the limit of remuneration for the Directors	MGMT	WITH MANAGEMENT
			6	Approve the limit of remuneration for the Auditors	MGMT	WITH MANAGEMENT
055550	SHINHAN FINANCIAL GRP (KOR)	24-Mar-10		AGM		Vote For All Proposals
			1	Approve the financial statements	MGMT	WITH MANAGEMENT
			2	Approve the partial amendment to the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Approve the limit of remuneration for the Directors	MGMT	WITH MANAGEMENT
			4.1	Election of Eung Chan Ra as an inside Director	MGMT	WITH MANAGEMENT
			4.2	Election of Si Yeol Ryu as a Non-Executive Director	MGMT	WITH MANAGEMENT
			4.3	Election of Byung Il Kim as an outside Director	MGMT	WITH MANAGEMENT
			4.4	Election of Yo Gu Kim as an outside Director	MGMT	WITH MANAGEMENT
			4.5	Election of Whi Mook Kim as an outside Director	MGMT	WITH MANAGEMENT
			4.6	Election of Gae Sub Yoon as an outside Director	MGMT	WITH MANAGEMENT
			4.7	Election of Sung Bin Jeon as an outside Director	MGMT	WITH MANAGEMENT
			4.8	Election of Hang Nam Jung as an outside Director	MGMT	WITH MANAGEMENT
			4.9	Election of Hirakawayoji as an outside Director	MGMT	WITH MANAGEMENT
			4.10	Election of Philippe Aguignier as an outside Director	MGMT	WITH MANAGEMENT
			5.1	Election of Yo Gu Kim as an Audit Committee Member who is also an outside Director	MGMT	WITH MANAGEMENT
			5.2	Election of Gae Sub Yoon as an Audit Committee Member who is also an outside	MGMT	WITH MANAGEMENT
			5.3	Election of Sung Bin Jeon as an Audit Committee Member who is also an outside	MGMT	WITH MANAGEMENT
039130	HANATOUR SVC INC (KOR)	25-Mar-10		AGM		Vote For All Proposals
			1	Approve the 17th balance sheet, income statement and the proposed disposition of retained earnings	MGMT	WITH MANAGEMENT
			2	Amend the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3.1	Election of Jungwoo Byun as a Outside Director	MGMT	WITH MANAGEMENT
			3.2	Election of Jangsuk Han as a Outside Director	MGMT	WITH MANAGEMENT
			3.3	Election of Kihong Park as a Outside Director	MGMT	WITH MANAGEMENT
			4.1	Election of Jungwoo Byun as a Audit Committee Member	MGMT	WITH MANAGEMENT
			4.2	Election of Jangsuk Han as a Audit Committee Member	MGMT	WITH MANAGEMENT
			4.3	Election of Kihong Park as a Audit Committee Member	MGMT	WITH MANAGEMENT
			5	Approve the remuneration limit for the Directors	MGMT	WITH MANAGEMENT
			6	Amend the Retirement Benefit Plan for the Directors	MGMT	WITH MANAGEMENT
035250	KANGWON LAND INC (KOR)	25-Mar-10		AGM		Vote For All except 2.3 (clear)
			1.	Approve the balance sheet, income statement and statement of appropriation of retained earnings for FYE DEC 2009	MGMT	WITH MANAGEMENT
			2.1	Election of Messrs. Sung-Sil Kim, Kwang-Soo Cho, Wall-Ja Jung and Ho-Kyoo Kim as the Directors	MGMT	WITH MANAGEMENT
				PLEASE NOTE THAT ALTHOUGH THERE ARE 02 CANDIDATES TO BE ELECTED AS DIRECTORS, THERE IS ONLY 01 VACANCY AVAILABLE TO BE FILLED AT THE MEETING. THE STANDING INSTRUCTIONS FOR THIS MEETING WILL BE DISABLED AND, IF YOU CHOOSE, YOU ARE REQUIRED TO VOTE FOR ONLY 01 OF THE 02 DIRECTORS. THANK YOU.	NON-VTG
			2.2	Election of Jong-Chul Park as an External Director, to be member of the Audit Committee	MGMT	WITH MANAGEMENT
			2.3	Election of Jae-Boum Song as an External Director, to be member of the Audit Committee	MGMT
			3.	Approve the remuneration limit for the Director	MGMT	WITH MANAGEMENT
			4.	Approve the reward for full time Director, Jin-Mo Kim	MGMT	WITH MANAGEMENT
097950	CJ CHEILJEDANG CORP (KOR)	26-Mar-10		AGM		Vote For All Proposals
			1	Approve the 3rd B/S, I/S and the proposed disposition of retained earnings	MGMT	WITH MANAGEMENT
			2	Amend the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Approve the provision on stock purchase option endowed by 2009 Board of Director	MGMT	WITH MANAGEMENT
			4	Election of Kyungsik Son, Jaehyun Lee Jinsu Kim (External): Sunhoi Ju, Daedong Park, Changjin Mun as the Directors	MGMT	WITH MANAGEMENT
			5	Election of Sunhoi Ju, Youngbae Park, Daedong Par and Changjin Mun as the Audit Committee Members	MGMT	WITH MANAGEMENT
			6	Approve the remuneration limit of the Director	MGMT	WITH MANAGEMENT
114090	GRAND KOREA LEISURE CO LTD	26-Mar-10		AGM		Vote For All Proposals
			1	Approve the financial statements	MGMT	WITH MANAGEMENT
			2	Election of Jin Se Kim as a Non-executive Director	MGMT	WITH MANAGEMENT
			3	Approve the limit of remuneration for the Directors	MGMT	WITH MANAGEMENT
			4	Approve the limit of remuneration for the Auditors	MGMT	WITH MANAGEMENT
000660	HYNIX SEMICONDUCTOR INC (KOR)	26-Mar-10		AGM		Vote For All Proposals
			1	Approve the Financial Statements	MGMT	WITH MANAGEMENT
			2	Amend the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Election of J.K.Kim, O.C. Oh, M.C.Kim  (EXTERNAL) J.S.Park, K.J.Baek, I.P.Jeon, B.H.Han, J.B.Choi, B.T.Jung, J.Y.Song, H.J.Ki as the Directors	MGMT	WITH MANAGEMENT
			4	Election of (External) Gapjong Baek, Jaeyong Song, Changho Kim as the Outside Directors who are Audit Committee Members	MGMT	WITH MANAGEMENT
			5	Approve the remuneration of a Director	MGMT	WITH MANAGEMENT
000080	JINRO LTD (KOR)	26-Mar-10		AGM		Vote For All Proposals
			1	Approve the 58th balance sheet, income statement and the proposed disposition of retained earnings; cash dividend  KRW 2,000 per 1 ord share, KRW 2,050 per 1 pref share	MGMT	WITH MANAGEMENT
			2	Election of Sungyong Lee, Jihong Yu as the External Directors	MGMT	WITH MANAGEMENT
			3	Approve the limit of remuneration for the Directors	MGMT	WITH MANAGEMENT
			4	Approve the limit of remuneration for the Auditors	MGMT	WITH MANAGEMENT
105560	KB FINANCIAL GRP INC (KOR)	26-Mar-10		AGM		Vote For All Proposals
			1.	Approve the financial statements	MGMT	WITH MANAGEMENT
			2.	Amend the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3.	Elect a Director	MGMT	WITH MANAGEMENT
			4.	Elect the Audit Committee member who is an Outside Director	MGMT	WITH MANAGEMENT
			5.	Approve the remuneration for the Director	MGMT	WITH MANAGEMENT
003550	LG CORP (KOR)	26-Mar-10		AGM		Vote For All Proposals
			1	Approve the financial statements expected dividend per 1 share: KRW 1,000 for ordinary share, KRW 1,050 for preference share	MGMT	WITH MANAGEMENT
			2	Approve the partial amendment of Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Election of Bon Moo Koo as an Inside Director and Jun Ho Han, Dae Hwan Kim and Kyung Hee Yoon as the Outside Directors	MGMT	WITH MANAGEMENT
			4	Election of the Audit Committee Members	MGMT	WITH MANAGEMENT
			5	Approve the limit of remuneration for the Directors	MGMT	WITH MANAGEMENT
023530	LOTTE SHOPPING CO (KOR)	26-Mar-10		AGM		Vote For All Proposals
			1	Approve the balance sheet, income statement and statement of appropriation of retained earnings for FYE DEC 2009	MGMT	WITH MANAGEMENT
			2	Approve the partial amendment to the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3.1	Election of Seungheui Jowa, Seho Kim, Kyungbeom Park, Sehun Kim, Hongro Lee	MGMT	WITH MANAGEMENT
			3.2	Election of Dongbin Sin, Inwon Lee, Cheolwoo Lee, Youngja Sin as the Inside	MGMT	WITH MANAGEMENT
			3.3	Election of Kyungbeom Park, Sehun Kim Hongro Lee as the Audit Committee	MGMT	WITH MANAGEMENT
			4	Approve the limit of remuneration for the Directors	MGMT	WITH MANAGEMENT
001800	ORION CORP (KOR)	26-Mar-10		AGM		Vote For All Proposals
			1	Approve the 54th balance sheet, income statement and proposed disposition of retained earnings	MGMT	WITH MANAGEMENT
			2	Amend the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Election of Directors candidates Hwagyeong Lee, Byungyoon Jung  External	MGMT	WITH MANAGEMENT
			4	Election of Sangyoon Lee as an Auditor	MGMT	WITH MANAGEMENT
			5	Approve the limit of remuneration for the Directors	MGMT	WITH MANAGEMENT
			6	Approve the limit of remuneration for the Auditors	MGMT	WITH MANAGEMENT
			7	Amend the Retirement Benefit Plan for the Directors	MGMT	WITH MANAGEMENT
053000	WOORI FINANCE HLDGS CO (KOR)	26-Mar-10		AGM		Vote For All Proposals
			1	Approve the financial statements, the statement of profit and loss, and the proposed disposition of retained earnings	MGMT	WITH MANAGEMENT
			2	Amend the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Election of KHB, LYH, BMJ, SHT, KHJ, LDH, LH as the External Directors	MGMT	WITH MANAGEMENT
			4	Election of LYH, SHT, KHJ, LDH as the members of Audit Committee	MGMT	WITH MANAGEMENT
			5	Approve the remuneration of the Directors	MGMT	WITH MANAGEMENT
096640	MELFAS INC (KOR)	29-Mar-10		AGM		Vote For All Proposals
			1	Approve the financial statements	MGMT	WITH MANAGEMENT
			2	Approve the partial amendment to Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Re-appoint two Directors	MGMT	WITH MANAGEMENT
			4	Election of one Executive Auditor	MGMT	WITH MANAGEMENT
			5	Approve the limit of remuneration for the Directors	MGMT	WITH MANAGEMENT
			6	Approve the limit of remuneration for the Auditors	MGMT	WITH MANAGEMENT
			7	Election of External Auditor	MGMT	WITH MANAGEMENT
077360	DUK SAN HI METAL CO (KOR)	30-Mar-10		AGM		Vote For All Proposals
			1	Approve the financial statements	MGMT	WITH MANAGEMENT
			2	Amend the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Election of Auditor	MGMT	WITH MANAGEMENT
			4	Approve the remuneration for Director	MGMT	WITH MANAGEMENT
			5	Approve the remuneration for Auditor	MGMT	WITH MANAGEMENT
015760	KOREA ELECTRIC POWER CO. (KOR)	17-May-10		EGM		Vote For All Proposals
			1.	Election of Director, candidate: Woo Gyeom Kim	MGMT	WITH MANAGEMENT
			2.	Election of an Audit Committee Member as Outside Director, candidate: Sunjin Kim	MGMT	WITH MANAGEMENT
037620	MIRAE ASSET HLDGS CO (KOR)	28-May-10		AGM		Vote For All Proposals
			1	Approve the financial statements	MGMT	WITH MANAGEMENT
			2	Amend the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3.1	Election of Inside Directors, candidates: Gwang Seob Lee, Shin Kim	MGMT	WITH MANAGEMENT
			3.2	Election of Outside Director, candidates: Seok Gyo An, Jin Young Shin Jeong Tak Kim, Hee Jin Noe	MGMT	WITH MANAGEMENT
			4.1	Election of Audit Committee member who is an Inside Director, candidate: Gwang Seob Lee	MGMT	WITH MANAGEMENT
			4.2	Election of Audit Committee member who is an Outside Director, candidates: Seok Gyo An, Hee Jin Noe	MGMT	WITH MANAGEMENT
			5	Approve the remuneration for the Director	MGMT	WITH MANAGEMENT
005830	DONGBU INS CO LTD (KOR)	11-Jun-10		AGM		Vote For All Proposals
			1	Approve the financial statements	MGMT	WITH MANAGEMENT
			2	Amend the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Election of Messrs. Hee Ju Hwang (External) Keun Young Lee, Seon Jeong Kim as the Directors	MGMT	WITH MANAGEMENT
			4	Election of Messrs. Keun Young Lee, Seon Jeong Kim as the Audit Committee Member	MGMT	WITH MANAGEMENT
			5	Election of Hee Ju Hwang as an Audit Committee Member who is not an outside Director	MGMT	WITH MANAGEMENT
			6	Approve the remuneration limit of Directors	MGMT	WITH MANAGEMENT
086280	GLOVIS CO LTD (KOR)	11-Jun-10		EGM		Vote For the Proposal
			1	Election of Director [and External Directors] Candidates: Yan Yebin Wang [Ma Sang Gon]	MGMT	WITH MANAGEMENT
003690	KOREAN REINSURANCE CO (KOR)	11-Jun-10		AGM		Vote For All Proposals
			1	Approve the financial statements	MGMT	WITH MANAGEMENT
			2	Election of Directors: candidates: Hyukhee Won, Jonwon Park, Chan Byeong Bae [External]	MGMT	WITH MANAGEMENT
			3	Approve the remuneration for Director	MGMT	WITH MANAGEMENT
002550	LIG INSURANCE CO LTD (KOR)	11-Jun-10		AGM		Vote For All Proposals
			1	Approve the 52th financial statement, income statement and the proposed disposition of retained earnings	MGMT	WITH MANAGEMENT
			2	Amend the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Election of Directors candidates: Woo Jin Kim (external) Sung Joon Lim (non-permanent Directors) Bon Sang Goo	MGMT	WITH MANAGEMENT
			4	Elect the Audit committee members who are the external Directors Candidate: Seong Joon IM	MGMT	WITH MANAGEMENT
			5	Approve the 53th remuneration limit of the Directors	MGMT	WITH MANAGEMENT
088350	KOREA LIFE INS CO LTD	18-Jun-10		AGM		Vote For All Proposals
			1	Approve the 61st financial statements	MGMT	WITH MANAGEMENT
			2	Approve the partial amendment to the Articles of Incorporation	MGMT	WITH MANAGEMENT
			3	Election of Hyeon Cheol Kim as an External Director	MGMT	WITH MANAGEMENT
			4	Approve the limit of remuneration for Directors	MGMT	WITH MANAGEMENT

SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Korea Equity Fund, Inc.

By:       /s/ Shigeru Shinohara          

                 Shigeru Shinohara

                 President

Date:   August 25, 2010