Korea Equity Fund NPX 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)

	Worldwide Plaza, 19th Floor, 309 West 49th Street, New York, NY	10019
	(Address of principal executive offices)	(Zip code)

Mr. Yutaka Itabashi

Worldwide Plaza

19th Floor

309 West 49th Street

New York, NY 10019

(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, 2016 – June 30, 2017

PROXY VOTING REPORT

FOR THE PERIOD JULY 1, 2016 TO JUNE 30, 2017

KOREA EQUITY FUND

Company Name	Security ID	Meeting Date	Proposal	Proposed By	Vote	With/Against Management	Voted Shares

HYUNDAI MOBIS, SEOUL	6449544	07-Jul-2016	ELECTION OF INTERNAL DIRECTOR (CANDIDATE: YEONG DEUK LIM)	MGMT	FOR	WITH MANAGEMENT	16,934

COWAY CO.LTD.	6173401	12-Sep-2016	ELECTION OF INSIDE DIRECTOR CANDIDATE: YUN JONG HA	MGMT	FOR	WITH MANAGEMENT	52,887
			ELECTION OF A NON-PERMANENT DIRECTOR CANDIDATE: GIM GWANG IL	MGMT	FOR	WITH MANAGEMENT

GRAND KOREA LEISURE CO LTD, SEOUL	B4347P0	29-Sep-2016	ELECTION OF DIRECTOR: YUN NAM SUN	MGMT	FOR	WITH MANAGEMENT	21,000

KOREA ELECTRIC POWER CORP, NAJU	6495730	24-Oct-2016	ELECTION OF NON-PERMANENT AUDIT COMMITTEE MEMBER (CANDIDATE: GIM JU SEON)	MGMT	FOR	WITH MANAGEMENT	61,145
			AMENDMENT OF ARTICLES OF INCORPORATION	MGMT	FOR	WITH MANAGEMENT

SAMSUNG ELECTRONICS CO LTD, SUWON	6771720	27-Oct-2016	APPROVAL OF PHYSICAL DIVISION	MGMT	FOR	WITH MANAGEMENT	7,919
			ELECTION OF INTERNAL DIRECTOR (CANDIDATE: JAEYONG LEE)	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF SPIN OFF	MGMT	FOR	WITH MANAGEMENT

LG CHEM LTD, SEOUL	6346913	31-Oct-2016	AMENDMENT OF ARTICLES OF INCORPORATION	MGMT	FOR	WITH MANAGEMENT	2,091

COWAY CO.LTD.	6173401	31-Oct-2016	ELECTION OF INTERNAL DIRECTOR (CANDIDATE: HAESUN LEE)	MGMT	FOR	WITH MANAGEMENT	62,598
			ENDOWMENT OF STOCK PURCHASE OPTION FOR INTERNAL DIRECTOR	MGMT	FOR	WITH MANAGEMENT

KOREA ELECTRIC POWER CORP, NAJU	6495730	10-Jan-2017	ELECTION OF EXECUTIVE DIRECTOR CANDIDATES: MUN BONG SU	MGMT	FOR	WITH MANAGEMENT	79,304

POSCO, POHANG	6693233	10-Mar-2017	APPROVAL OF FINANCIAL STATEMENT	MGMT	FOR	WITH MANAGEMENT	5,994
			ELECTION OF OUTSIDE DIRECTOR CANDIDATE: GIM SIN BAE	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR CANDIDATE: JANG SEUNG HWA	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR CANDIDATE: JEONG MUN GI	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER CANDIDATE: JANG SEUNG HWA	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER CANDIDATE: JEONG MUN GI	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF INSIDE DIRECTOR CANDIDATE: GWON O JUN	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF INSIDE DIRECTOR CANDIDATE: O IN HWAN	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF INSIDE DIRECTOR CANDIDATE: CHOI JEONG WU	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF INSIDE DIRECTOR CANDIDATE: JANG IN HWA	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF INSIDE DIRECTOR CANDIDATE: YU SEONG	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT

HYUNDAI GLOVIS CO LTD, SEOUL	B0V3XR5	17-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	9,314
			AMENDMENT OF ARTICLES OF INCORPORATION	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTORS: GIM JUN GYU, IM CHANG GYU	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBERS: GIM JUN GYU, IM CHANG GYU	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT

HANSAE CO LTD, SEOUL	B3KT2S9	17-Mar-2017	APPROVAL OF FINANCIAL STATEMENT	MGMT	FOR	WITH MANAGEMENT	41,379
			ELECTION OF OUTSIDE DIRECTOR: KIM JOONG JAE	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER: KIM JOONG JAE	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF LIMIT OF REMUNERATION FOR DIRECTORS	MGMT	FOR	WITH MANAGEMENT

HYUNDAI MOBIS, SEOUL	6449544	17-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	17,134
			ELECTION OF DIRECTORS: JEONG UI SEON, I TAE UN, I BYEONG JU	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBERS: I TAE UN, I BYEONG JU	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT

HYUNDAI ENGINEERING AND CONSTRUCTION CO LTD, SEOUL	6450988	17-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	18,427
			AMENDMENT OF ARTICLES OF INCORP	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR SIN HYEON YUN, SEO CHI HO	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER SIN HYEON YUN, SEO CHI HO	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT

PROXY VOTING REPORT

FOR THE PERIOD JULY 1, 2016 TO JUNE 30, 2017

KOREA EQUITY FUND

Company Name	Security ID	Meeting Date	Proposal	Proposed By	Vote	With/Against Management	Voted Shares

DONGBU INSURANCE CO LTD, SEOUL	6155937	17-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	85,960
			AMENDMENT OF ARTICLES OF INCORP	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF DIRECTORS: GIM YEONG MAN, I SEUNG U, GIM SEONG GUK	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR WHO WILL BE AN AUDIT COMMITTEE MEMBER: BAK SANG YONG	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBERS WHO ARE OUTSIDE DIRECTORS: GIM SEONG GUK, I SEUNGU	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT

YOUNGONE CORP, SEOUL	B622C10	17-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	85,975
			ELECTION OF DIRECTOR I YEONG HOE, I HEUNG NAM, YUN JE CHEOL	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER YUN JE CHEOL	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT

KT&G CORPORATION, TAEJON	6175076	17-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	24,178
			ELECTION OF OUTSIDE DIRECTOR: SONG EOB GYO	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR: LEE JOON GYU	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR: NOH JOON HWA	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER: LEE JOON GYU	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER: NOH JOON HWA	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF LIMIT OF REMUNERATION FOR DIRECTORS	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF AMENDMENT TO RETIREMENT BENEFIT PLAN FOR DIRECTORS	MGMT	FOR	WITH MANAGEMENT

HANA FINANCIAL GROUP INC, SEOUL	B0RNRF5	17-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	75,144
			ELECTION OF OUTSIDE DIRECTOR: YUN JONG NAM	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR: BAK MUN GYU	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR: SONG GI JIN	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR: GIM IN BAE	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR: YUN SEONG BOK	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR: CHA EUN YEONG	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF INSIDE DIRECTOR: GIM BYEONG HO	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF INSIDE DIRECTOR: HAM YEONG JU	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR WHO IS AN AUDIT COMMITTEE MEMBER: YANG WON GEUN	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER WHO IS AN OUTSIDE DIRECTOR: YUN JONG NAM	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER WHO IS AN OUTSIDE DIRECTOR: BAK MUN GYU	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER WHO IS AN OUTSIDE DIRECTOR: YUN SEONG BOK	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT

GS RETAIL CO LTD, SEOUL	B7F9Q79	17-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	8,430
			ELECTION OF INSIDE DIRECTOR HEO YEON SU	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR SIN DONG GYU	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR IM CHUN SEONG	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR CHOE HYO SEONG	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER SHIN DONG GYU	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER IM CHUN SEONG	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER CHOE HYO SEONG	MGMT	FOR	WITH MANAGEMENT
			AMENDMENT OF ARTICLES OF INCORP	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT

KOREA ELECTRIC POWER CORP, NAJU	6495730	21-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	79,304
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF REPRESENTATIVE DIRECTOR: JO HWAN IK	MGMT	FOR	WITH MANAGEMENT

SHINHAN FINANCIAL GROUP CO LTD, SEOUL	6397502	23-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	102,868
			AMENDMENT OF ARTICLES OF INCORPORATION	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF INSIDE DIRECTOR JO YONG BYEONG	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF A NON-PERMANENT DIRECTOR WI SEONG HO	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR BAK AN SUN	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR BAK CHEOL	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR I SANG GYEONG	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR JU JAE SEONG	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR HIRAKAWA YUKI	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR PHILIPPE AVRIL	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER WHO IS AN OUTSIDE DIRECTOR I MAN U	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER I SANG GYEONG	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER I SEONG RYANG	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT

INTEROJO CO LTD, PYEONGTAEK	B42MSJ6	23-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	76,249
			AMENDMENT OF ARTICLES OF INCORP	MGMT	AGAINST	AGAINST MANAGEMENT
			ELECTION OF PERMANENT AUDITOR JEONG HAN GI	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR AUDITOR	MGMT	AGAINST	AGAINST MANAGEMENT
			APPROVAL OF GRANT OF STOCK OPTION	MGMT	FOR	WITH MANAGEMENT

JUSUNG ENGINEERING CO LTD, KWANGJU	6201788	24-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	46,600
			ELECTION OF INSIDE DIRECTOR GANG JONG GEUN	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR GWON GI CHEONG	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	AGAINST	AGAINST MANAGEMENT
			APPROVAL OF REMUNERATION FOR AUDITOR	MGMT	FOR	WITH MANAGEMENT

PROXY VOTING REPORT

FOR THE PERIOD JULY 1, 2016 TO JUNE 30, 2017

KOREA EQUITY FUND

Company Name	Security ID	Meeting Date	Proposal	Proposed By	Vote	With/Against Management	Voted Shares

HALLA HOLDINGS CORP	B3XF336	24-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	18,381
			AMENDMENT OF ARTICLES OF INCORP	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF DIRECTORS JEONG MONG WON, IM GI YEONG, CHOE GYEONG SIK, CHOE WAN SU	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER WHO IS AN OUTSIDE DIRECTOR CHOE GYEONG SIK, CHOE WAN SU	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	AGAINST	AGAINST MANAGEMENT

MANDO CORP, PYEONGTAEK	BQJZQJ8	24-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	9,037
			ELECTION OF DIRECTORS: JEONG MONG WON, SEONG IL MO, GIM YEONG SU, I JONG HWI, GIM DAE SIK, JU WAN, HONG SEONG PIL, GIM HAN CHEOL	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBERS: I JONG HWI, GIM DAE SIK, JU WAN, GIM HAN CHEOL	MGMT	AGAINST	AGAINST MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT

NCSOFT CORP, SEOUL	6264189	24-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	17,006
			AMENDMENT OF ARTICLES OF INCORP	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF INSIDE DIRECTOR JEONG JIN SU	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR JO GUK HYEON	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT
			AMENDMENT OF ARTICLES ON RETIREMENT ALLOWANCE FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT

SK HYNIX INC, ICHON	6450267	24-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	188,901
			AMENDMENT OF ARTICLES OF INCORP	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF INSIDE DIRECTOR: I SEOK HUI	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF A NON-PERMANENT DIRECTOR: BAK JEONG HO	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR: CHOE JONG WON	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR: SIN CHANG HWAN	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR WHO IS AN AUDIT COMMITTEE MEMBER: CHOE JONG WON	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR WHO IS AN AUDIT COMMITTEE MEMBER: SIN CHANG HWAN	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF GRANT OF STOCK OPTION	MGMT	FOR	WITH MANAGEMENT

HWASEUNG ENTERPRISE CO., LTD.	BZCMZG9	24-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	79,203
			AMENDMENT OF ARTICLES OF INCORP	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT

WONIK MATERIALS CO LTD, CHEONGWON	B78CP12	24-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	14,968
			AMENDMENT OF ARTICLES OF INCORP	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF INSIDE DIRECTOR I MUN YONG	MGMT	AGAINST	AGAINST MANAGEMENT
			ELECTION OF INSIDE DIRECTOR GIM DONG U	MGMT	AGAINST	AGAINST MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR AUDITOR	MGMT	FOR	WITH MANAGEMENT

KOREA ZINC CO LTD, SEOUL	6495428	24-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	8,346
			ELECTION OF DIRECTOR CHOE CHANG GEUN	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF DIRECTOR I JE JUNG	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF DIRECTOR I CHAE PIL	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF DIRECTOR HAN CHEOL SU	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER LEE JIN KANG	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER HAN CHEOL SU	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT

SK CHEMICALS CO LTD, SEONGNAM	6859916	24-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	6,000
			ELECTION OF INSIDE DIRECTOR: GIM CHEOL	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF INSIDE DIRECTOR: BAK MAN HUN	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR: CHOE JEONG HWAN	MGMT	AGAINST	AGAINST MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR: O YEONG HO	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER: CHOE JEONG HWAN	MGMT	AGAINST	AGAINST MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT
			CHANGE OF TERMS	MGMT	FOR	WITH MANAGEMENT
			CHANGE OF BOARD CHAIRMAN	MGMT	FOR	WITH MANAGEMENT

CJ KOREA EXPRESS CORP, SEOUL	6497112	24-Mar-2017	APPROVAL OF FINANCIAL STATEMENT	MGMT	FOR	WITH MANAGEMENT	4,500
			AMENDMENT OF ARTICLES OF INCORPORATION	MGMT	AGAINST	AGAINST MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT

KOREA AUTOGLASS CORP, SEJONG	BDJ0FT5	24-Mar-2017	AMENDMENT OF ARTICLES OF INCORPORATION	MGMT	FOR	WITH MANAGEMENT	21,480
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	AGAINST	AGAINST MANAGEMENT
			APPROVAL OF REMUNERATION FOR AUDITOR	MGMT	FOR	WITH MANAGEMENT

INNOCEAN WORLDWIDE INC., SEOUL	BYX20P5	24-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	29,808
			ELECTION OF INSIDE DIRECTOR: JEONG SEONG I	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF INSIDE DIRECTOR: YUN SEOK HUN	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF INSIDE DIRECTOR: GIM JIN U	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR: I JAE HONG	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER: LEE JAE HONG	MGMT	FOR	WITH MANAGEMENT
			AMENDMENT OF ARTICLES OF INCORPORATION	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT

SK MATERIALS CO., LTD., YONGJU	6199571	24-Mar-2017	APPROVAL OF FINANCIAL STATEMENT	MGMT	FOR	WITH MANAGEMENT	9,691
			APPROVAL OF CONSOLIDATED FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT
			AMENDMENT OF ARTICLES OF INCORPORATION	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF INSIDE DIRECTOR CANDIDATE: IM MIN GYU	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF NON-PERMANENT DIRECTOR CANDIDATE: JANG DONG HYEON	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	AGAINST	AGAINST MANAGEMENT
			APPROVAL OF REMUNERATION FOR AUDITOR	MGMT	FOR	WITH MANAGEMENT
			AMENDMENT OF ARTICLES ON RETIREMENT ALLOWANCE FOR BOARD MEMBERS	MGMT	FOR	WITH MANAGEMENT

PROXY VOTING REPORT

FOR THE PERIOD JULY 1, 2016 TO JUNE 30, 2017

KOREA EQUITY FUND

Company Name	Security ID	Meeting Date	Proposal	Proposed By	Vote	With/Against Management	Voted Shares

KB FINANCIAL GROUP INC.	B3DF0Y6	24-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	30,925
			AMENDMENT OF ARTICLES OF INCORP	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF A NON-PERMANENT DIRECTOR I HONG	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR CHOE YEONG HWI	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR YU SEOK RYEOL	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR I BYEONG NAM	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR BAK JAE HA	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR GIM YU NI SEU GYEONG HUI	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR STUART B SOLOMON	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR WHO IS AN AUDIT COMMITTEE MEMBER HAN JONG SU	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER WHO IS AN OUTSIDE DIRECTOR YU SEOK RYEOL	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER WHO IS AN OUTSIDE DIRECTOR BAK JAE HA	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER WHO IS AN OUTSIDE DIRECTOR GIM YU NI SEU GYEONG HUI	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT

SAMSUNG LIFE INSURANCE CO LTD, SEOUL	B12C0T9	24-Mar-2017	APPROVAL OF FINANCIAL STATEMENT	MGMT	FOR	WITH MANAGEMENT	30,565
			APPROVAL OF PARTIAL AMENDMENT TO ARTICLES OF INCORPORATION	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF INSIDE DIRECTOR: KIM CHANG SOO	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF INSIDE DIRECTOR: CHOI SIN HYEONG	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER AS OUTSIDE DIRECTOR: YOON YONG RO	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER AS OUTSIDE DIRECTOR: HEO GYEONG UK	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER AS OUTSIDE DIRECTOR: GIM DU CHEOL	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF LIMIT OF REMUNERATION FOR DIRECTORS	MGMT	FOR	WITH MANAGEMENT

SAMSUNG ELECTRONICS CO LTD, SUWON	6771720	24-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	7,919
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT

I-SENS, INC., SEOUL	B94K2F7	24-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	24,862
			ELECTION OF OUTSIDE DIRECTOR SONG YEONG CHUL	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF PERMANENT AUDITOR KENNETH STEVEN PARK (BAK GYEONG SEONG)	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR AUDITOR	MGMT	FOR	WITH MANAGEMENT
			GRANT OF STOCK OPTION	MGMT	FOR	WITH MANAGEMENT

COWAY CO.LTD.	6173401	28-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	66,685
			GRANT OF STOCK OPTION	MGMT	FOR	WITH MANAGEMENT
			AMENDMENT OF ARTICLES OF INCORP	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF INSIDE DIRECTOR YUN JONG HA	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF A NON-PERMANENT DIRECTOR BU JAE HUN	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF A NON-PERMANENT DIRECTOR GIM GWANG IL	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF A NON-PERMANENT DIRECTOR BAK TAE HYEON	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF A NON-PERMANENT DIRECTOR CHOE YEON SEOK	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR I JUNG SIK	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR I JUN HO	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR AUDITOR	MGMT	FOR	WITH MANAGEMENT

DOOSAN BOBCAT INC	BYX9GP8	31-Mar-2017	APPROVAL OF FINANCIAL STATEMENTS	MGMT	FOR	WITH MANAGEMENT	15,545
			ELECTION OF INSIDE DIRECTOR SCOTT SEONG CHEOL BAK, GIM JONG SEON	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF OUTSIDE DIRECTOR GIM HOE SEON	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER GIM HOE SEON	MGMT	FOR	WITH MANAGEMENT
			APPROVAL OF REMUNERATION FOR DIRECTOR	MGMT	AGAINST	AGAINST MANAGEMENT

MANDO CORP, PYEONGTAEK	BQJZQJ8	01-Jun-2017	ELECTION OF OUTSIDE DIRECTOR: GIM HYEON SU	MGMT	FOR	WITH MANAGEMENT	14,479
			ELECTION OF OUTSIDE DIRECTOR: GIM GYEONG SU	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER: GIM HAN CHEOL	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER: GIM HYEON SU	MGMT	FOR	WITH MANAGEMENT
			ELECTION OF AUDIT COMMITTEE MEMBER: GIM GYEONG SU	MGMT	FOR	WITH MANAGEMENT

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/ Yutaka Itabashi
Name:	Yutaka Itabashi
President, Principal Executive Officer

Date:	August 23, 2017

Korea Equity Fund (KEF) Inactive N-PXAnnual report of proxy voting record