UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-PX
ANNUAL REPORT OF PROXY RECORD OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-8002
------------------------
KOREA EQUITY FUND, INC.
- ------------------------------------------------------------------------------
(Exact name of registrant as specified in charter)
Two World Financial Center
Building B, 22nd Floor
New York, New York 10281-1712
- ------------------------------------------------------------------------------
(Address of principal executive offices)
Yasushi Suzuki
Korea Equity Fund, Inc.
Two World Financial Center
Building B, 22nd Floor
New York, New York 10281-1712
- -----------------------------------------------------------------------
(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, 2003 - June 30, 2004
-----------------------------------------
Item 1.
The information contained herein discloses the following information for each
matter relating to a portfolio security considered at any shareholder meeting
held during the period covered by the report and with respect to which the
registrant was entitled to vote:
(a) The name of the issuer of the portfolio security;
(b) The exchange ticker symbol of the portfolio security, where available
through reasonably practical means;
(c) The Council on Uniform Securities Identification Procedures ("CUSIP")
number for the portfolio security, where available through reasonably
practical means;
(d) The shareholder meeting date;
(e) A brief identification of the matter voted on;
(f) Whether the matter was proposed by the issuer or by a security holder;
(g) Whether the registrant cast its vote on the matter;
(h) How the registrant cast its vote (e.g., for or against proposal, or
abstain; for or withhold regarding election of directors); and
(i) Whether the registrant cast its vote for or against management.
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
DAELIM INDUSTRIAL CO LTD
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y1860N109 Meeting Type: AGM
Ticker: Meeting Date: 19-Mar-04
ISIN: KR7000210005 Agenda: 700457888 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 09-Mar-04
SEDOL: 6249584
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statements Mgmt For
2 Elect the Directors Mgmt For
3 Elect the Members of the Audit Committee Mgmt For
4 Approve the limit of remuneration for the Directors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
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Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 01-Mar-04 01-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
DAEWOO SHIPBUILDING & MARINE ENGINEERING CO LTD.
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y1916Y117 Meeting Type: EGM
Ticker: Meeting Date: 21-Oct-03
ISIN: KR7042660001 Agenda: 700416616 - Management
City: SEOUL Holdings Reconciliation Date: 08-Sep-03
Country: SOUTH KOREA Vote Deadline Date: 09-Oct-03
SEDOL: 6211732
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Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approval of partial amendment to articles of Mgmt For
incorporation: change of the number of directors
from within 6 members to within 7 members.
2 Election of Directors- Nominee for inside Mgmt For
Director: Mr. Sunglip Jung
3 Elect Sihyung Kim for an outside Audit Committee member Mgmt For
4 Elect Byunghun Ahn for an outside Audit Committee member Mgmt For
5 Elect Mr. Okwhan Song for an outside Audit Committee member Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- --------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 06-Oct-03 06-Oct-03
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
DAEWOO SHIPBUILDING & MARINE ENGINEERING CO LTD.
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y1916Y117 Meeting Type: AGM
Ticker: Meeting Date: 12-Mar-04
ISIN: KR7042660001 Agenda: 700457383 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 02-Mar-04
SEDOL: 6211732
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Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statements-expected dividend ratio: Mgmt For
KRW 350
2 Approve the partial amendment to the Articles of Mgmt For
Incorporation
3 Elect the Directors Mgmt For
4 Elect the External Directors for the Audit Committee Mgmt For
5 Approve the limit of remuneration for the Directors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- --------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 27-Feb-04 27-Feb-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
DONGWON F&B CO LTD
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y2097E128 Meeting Type: AGM
Ticker: Meeting Date: 18-Mar-04
ISIN: KR7049770001 Agenda: 700462966 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 08-Mar-04
SEDOL: 6290719
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Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statements Mgmt For
2 Amend the Articles of Incorporation Mgmt For
3 Elect the Directors Mgmt For
4 Approve the remuneration limit for the Directors Mgmt For
5 Approve the remuneration limit for the Auditors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- --------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 28-Mar-04 08-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
HANA BANK
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y7642S100 Meeting Type: AGM
Ticker: Meeting Date: 26-Mar-04
ISIN: KR7002860005 Agenda: 700457903 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 16-Mar-04
SEDOL: 6076470 6795333
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Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the balance sheet and the income statement for the Mgmt For
business year 2003
2 Approve the statement of appropriation of unappropriated retained earnings Mgmt For
retained earnings
3 Approve the capital reduction Mgmt For
4 Elect the Directors Mgmt For
5 Elect Members of the Audit Committee Mgmt For
6 Elect the full-time Auditor Mgmt For
7 Approve the limit of remuneration for Directors Mgmt For
8 Approve the stock option for the staff Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- --------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 08-Mar-04 08-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
HANJIN SHIPPING CO LTD
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y3053K108 Meeting Type: AGM
Ticker: Meeting Date: 19-Mar-04
ISIN: KR7000700005 Agenda: 700459767 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 09-Mar-04
SEDOL: 6497071
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Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statements Mgmt For
2 Approve the partial amendment to the Articles of Incorporation Mgmt For
3 Elect the Directors Mgmt For
4 Elect the External Directors for Audit Committee Mgmt For
5 Determine the remuneration limit for the Directors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- --------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 02-Mar-04 02-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
HANKOOK TIRE CO LTD
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y30587102 Meeting Type: AGM
Ticker: Meeting Date: 12-Mar-04
ISIN: KR7000240002 Agenda: 700459096 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 02-Mar-04
SEDOL: 6107422
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Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statement Mgmt For
2 Appoint the Directors Mgmt For
3 Approve the remuneration limit for the Directors Mgmt For
4 Amend the retirement pay for the Directors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- --------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 01-Mar-04 01-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
HONAM PETROCHEMICAL CORP
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y3280U101 Meeting Type: AGM
Ticker: Meeting Date: 26-Mar-04
ISIN: KR7011170008 Agenda: 700467625 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 16-Mar-04
SEDOL: 6440020
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Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statements Mgmt For
2 Elect Mr. Hoon Choi as an outside Director Mgmt For
3 Elect Mr. Seung Bae Lee as an outside Director Mgmt For
4 Approve the decision to limit the remuneration for Directors Mgmt For
5 Approve the decision to limit the remuneration for the Auditors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- --------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 16-Mar-04 16-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
HYUNDAI MOBIS
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y3849A109 Meeting Type: AGM
Ticker: Meeting Date: 12-Mar-04
ISIN: KR7012330007 Agenda: 700457369 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 02-Mar-04
SEDOL: 6449544
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Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statement/KRW 1,250 per 1 common share Mgmt For
2 Amend the Articles of Incorporation Mgmt For
3 Elect the Directors Mgmt For
4 Elect the Auditor s Committee Member Mgmt For
5 Approve the remuneration limit for the Directors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- --------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 27-Feb-04 27-Feb-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
HYUNDAI MOBIS
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y38472109 Meeting Type: AGM
Ticker: Meeting Date: 12-Mar-04
ISIN: KR7005380001 Agenda: 700456557 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 02-Mar-04
SEDOL: 6451055
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statements Mgmt For
2 Approve the partial amendment to the Articles of Incorporation Mgmt For
3 Elect the Internal and External Directors Mgmt For
4 Elect the Auditor Committee Mgmt For
5 Approve the limit of remuneration for the Directors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- --------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 27-Feb-04 27-Feb-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
INTERFLEX CO LTD
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y41013106 Meeting Type: AGM
Ticker: Meeting Date: 19-Mar-04
ISIN: KR7051370005 Agenda: 700461471 - Management
City: KYUNGGI Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 12-Mar-04
SEDOL: 6582955
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statements Mgmt For
2 Amend the Articles of Incorporation Mgmt For
3 Elect the Directors (two External Directors) Mgmt For
4 Appoint the Auditors Mgmt For
5 Determine the remuneration limit of the Directors Mgmt For
6 Determine the remuneration limit of the Auditors Mgmt For
7 Amend the retirement benefit plan for the Directors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- --------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 08-Mar-04 08-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
KH VATEC CO LTD
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: ADPV00123 Meeting Type: EGM
Ticker: Meeting Date: 10-Oct-03
ISIN: KR7060720000 Agenda: 700410032 - Management
City: TBA Holdings Reconciliation Date: 15-Sep-03
Country: SOUTH KOREA Vote Deadline Date: 30-Sep-03
SEDOL: 6529004
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Appoint the Directors Mgmt
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- --------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
KH VATEC CO LTD
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y4757K105 Meeting Type: EGM
Ticker: Meeting Date: 10-Oct-03
ISIN: KR7060720000 Agenda: 700410436 - Management
City: GUMI Holdings Reconciliation Date: 08-Sep-03
Country: SOUTH KOREA Vote Deadline Date: 30-Mar-03
SEDOL: 6529004
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Elect the Directors Mgmt
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- --------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
KH VATEC CO LTD
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y4757K105 Meeting Type: EGM
Ticker: Meeting Date: 31-Oct-03
ISIN: KR7060720000 Agenda: 700415448 - Management
City: KYUNGBUK Holdings Reconciliation Date: 08-Oct-03
Country: SOUTH KOREA Vote Deadline Date: 21-Oct-03
SEDOL: 6529004
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 PLEASE NOTE THAT THIS IS AN AMENDMENT TO MEETING # Non-Voting No Vote
112433 DUE TO CHANGE IN THEMEETING DATE. PLEASE ALSO
NOTE THE REVISED MEETING LOCATION, RECORD DATE
ANDCUT-OFF DATE. ALL VOTES RECEIVED ON THE PREVIOUS
MEETING WILL BE DISREGARDED AND YOU WILL NEED TO
REINSTRUCT ON THIS MEETING NOTICE. THANK YOU.
2 Elect the Directors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- --------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 26-Sep-03 26-Sep-03
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
KH VATEC CO LTD
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y4757K105 Meeting Type: EGM
Ticker: Meeting Date: 03-Feb-03
ISIN: KR7060720000 Agenda: 700443384 - Management
City: GUMI Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 22-Jan-04
SEDOL: 6529004
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Elect the Directors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- --------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 14-Jan-04 14-Jan-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
KH VATEC CO LTD
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y4757K105 Meeting Type: AGM
Ticker: Meeting Date: 20-Mar-04
ISIN: KR7060720000 Agenda: 700458878 - Management
City: KYUNGBOOK Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 10-Mar-04
SEDOL: 6529004
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statement Mgmt For
2 Approve the proposed disposition of R/E Mgmt For
3 Amend the Articles of Incorporation Mgmt For
4 Approve the remuneration limit for the Directors Mgmt For
5 Approve the remuneration limit for the Auditors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- --------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 08-Mar-04 08-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
KIA MOTORS CORP
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y47601102 Meeting Type: EGM
Ticker: Meeting Date: 17-Oct-03
ISIN: KR7000270009 Agenda: 700410056 - Management
City: SEOUL Holdings Reconciliation Date: 19-Sep-03
Country: SOUTH KOREA Vote Deadline Date: 07-Oct-03
SEDOL: 6490928
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Elect Mr. Kuk-Jin Yoon as a Director Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- --------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 07-Oct-03 07-Oct-03
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
KIA MOTORS CORP
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y47601102 Meeting Type: AGM
Ticker: Meeting Date: 19-Mar-04
ISIN: KR7000270009 Agenda: 700458955 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 09-Mar-04
SEDOL: 6490928
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statement/KRW 350 per 1 common share Mgmt For
2 Approve the partial amendment to the Articles of Incorporation Mgmt For
3 Approve the remuneration limit for the Directors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- --------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 01-Mar-04 01-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
KOOKMIN BANK
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y4822W100 Meeting Type: AGM
Ticker: Meeting Date: 23-Mar-04
ISIN: KR7060000007 Agenda: 700455288 - Management
City: YEOUN Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 11-Mar-04
SEDOL: 6419365
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statement Mgmt For
2 Amend the Articles of Incorporation Mgmt For
3 Appoint the Directors Mgmt For
4 Appoint the candidate for Audit Committee Mgmt For
5 Approve the endowment of stock option Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- --------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 11-Mar-04 11-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- --------------------------------------------------------------------------------------------------------------------
KORAM BANK LTD
- --------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y4821K107 Meeting Type: AGM
Ticker: Meeting Date: 30-Mar-04
ISIN: KR7016830002 Agenda: 700470696 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 18-Mar-04
SEDOL: 6495581
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the balance sheet and the income statements Mgmt For
2 Approve the statement of appropriation of unappropriated retained earnings Mgmt For
3 Approve the stock consolidation for capital reduction on preferred Mgmt For
shares KRW39,000,000,000
4 Approve the amendment to limit of remuneration for the Directors Mgmt For
5 Elect Mr. Young Gu, Ha as a Director Mgmt For
6 Elect Mr. Byeong Joo, Kim as a Director Mgmt For
7 Elect Mr. Timothy Ryan, Jr. as a Director Mgmt For
8 Elect Mr. Peter J. Clare as a Director Mgmt For
9 Elect Mr. Timothy C.M. Chia as a Director Mgmt For
10 Elect Mr. Luc Villette as a Director Mgmt For
11 Elect Mr. Seok Hyun, Yoon as a Director Mgmt For
12 Elect Mr. Ton J. De Boer as a Director Mgmt For
13 Elect Mr. Nam Woo, Rhee as a Director Mgmt For
14 Elect an Audit Committee member as an Outside Director Mgmt For
15 Approve the stock option for staff Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- --------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- --------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 19-Mar-04 19-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- ----------------------------------------------------------------------------------------------------------------------------------
KORAM BANK LTD
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y4821K107 Meeting Type: EGM
Ticker: Meeting Date: 10-May-04
ISIN: KR7016830002 Agenda: 700505134 - Management
City: SEOUL Holdings Reconciliation Date: 15-Apr 04
Country: SOUTH KOREA Vote Deadline Date: 28-Apr-04
SEDOL: 6495581
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Elect Mr. Stephen Long as a Director Mgmt For
2 Elect Mr. Robert R. Morse as a Director Mgmt For
3 Elect Mr. Ashok Vaswani as a Director Mgmt For
4 Elect Mr. Mark F. Hart as a Director Mgmt For
5 Elect Mr. Venky Krishnakumar as a Director Mgmt For
6 Elect the Audit Committee Members who are outside Directors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- ----------------------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 29-Apr-04 29-Apr-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- ----------------------------------------------------------------------------------------------------------------------------------
KOREA ELECTRIC POWER CORO
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y48406105 Meeting Type: EGM
Ticker: Meeting Date: 31-Jul-03
ISIN: KR7015760002 Agenda: 700394505 - Management
City: SEOUL Holdings Reconciliation Date: 30-Jun-03
Country: SOUTH KOREA Vote Deadline Date: 23-Jul-03
SEDOL: 6495730
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Elect the Directors Mgmt For
2 Approve the partial amendment to the Articles of Incorporation Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- ----------------------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 24-Jul-03 24-Jul-03
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- ----------------------------------------------------------------------------------------------------------------------------------
KOREAN AIR LINES CO LTD
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y4936S102 Meeting Type: AGM
Ticker: Meeting Date: 19-Mar-04
ISIN: KR7003490000 Agenda: 700461433 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 09-Mar-04
SEDOL: 6496766
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statement/no dividend expected Mgmt For
2 Elect the Directors Mgmt For
3 Appoint the Audit Committee member Mgmt For
4 Approve the remuneration limit for the Directors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- ----------------------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 08-Mar-04 08-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- ----------------------------------------------------------------------------------------------------------------------------------
KT CORPORATION
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y49915104 Meeting Type: AGM
Ticker: Meeting Date: 12-Mar-04
ISIN: KR7030200000 Agenda: 700454046 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 02-Mar-04
SEDOL: 6505316
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statements Mgmt
2 Approve the partial amendment to the Articles of Incorporation: change Mgmt
of newspaper for notice (from Daehan mail to Seoul newspaper);
change of number of Audit Committee (from 3 members to more than 3
members)
3 Elect an Outside Director who are an Audit Committee member Mgmt
4 Elect the Directors Mgmt
5 Determine the remuneration limit of the Directors Mgmt
6 Determine the remuneration limit of the Auditors Mgmt
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- ----------------------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- ----------------------------------------------------------------------------------------------------------------------------------
KT CORPORATION
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y49915104 Meeting Type: AGM
Ticker: Meeting Date: 12-Mar-04
ISIN: KR7030200000 Agenda: 700457814 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 02-Mar-04
SEDOL: 6505316
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 PLEASE NOTE THAT THIS IS AN AMENDMENT TO MEETING 124749 Non-Voting No Vote
DUE TO ADDITIONAL RESOLUTIONS. ALL VOTES RECEIVED ON
THE PREVIOUS MEETING WILL BE DISREGARDED AND YOU WILL
NEED TO REINSTRUCT ON THIS MEETING NOTICE. THANK YOU.
2 Approve the financial statements Mgmt For
3 Approve the partial amendment to the Articles of Incorporation: change Mgmt For
of newspaper for notice (from Daehan mail to Seoul newspaper);
change of number of Audit Committee (from 3 members to more than 3
members)
4 Elect an Outside Director who are an Audit Committee member Mgmt For
5 PLEASE BE ADVISED THAT THERE CAN BE CUMULATIVE VOTING Non-Voting No Vote
APPLIED TO THIS FORTHCOMING AGM, PROVIDED THAT
SHAREHOLDERS WHO HOLD MORE THAN 1 IN AGGREGATE ASK
FORCUMULATIVE VOTING FOR AGENDA 4. (ELECT 2 DIRECTORS
OUT OF 3 NOMINEES) QUANTITYOF VOTING RIGHTS: HOLDING
QUANTITY X 2 (NUMBER OF DIRECTORS TO BE ELECTED). FOR
EXAMPLE, IF ONE HOLDS 100 SHS, THE HOLDER COULD CAST
ALL 200 VOTES FOR ONEDIRECTOR AND CAST 0 VOTES FOR
THE OTHER TWO CANDIDATES, OR THE SHAREHOLDER CAN
CAST 100 VOTE...
6 PLEASE ELECT 2 PERSONS AMONG THE FOLLOWING 3 Non-Voting No Vote
NOMINATORS. THANK YOU.
7 Elect Mr. Hee Chang, Noh as a Director Mgmt Abstain
8 Elect Mr. Sung Deuk, Park as a Director Mgmt Abstain
9 PLEASE NOTE THAT THIS IS A SHAREHOLDER S PROPOSAL: Elect Shareholder No Vote
Mr. Byung Hoon, Leeas a Director
10 Determine the remuneration limit of the Directors Mgmt For
11 Amend Management s contract Mgmt For
12 PLEASE NOTE THAT THIS IS A REVISION DUE TO THE REVISED Non-Voting No Vote
WORDING OF RESOLUTION NO. 6. IF YOU HAVE ALREADY SENT
IN YOUR VOTES, PLEASE DO NOT RETURN THIS PROXYFORM
UNLESS YOU DECIDE TO AMEND YOUR ORIGINAL
INSTRUCTIONS. THANK YOU.
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- ----------------------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 02-Mar-04 02-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- ----------------------------------------------------------------------------------------------------------------------------------
LG CHEM LTD
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y52758102 Meeting Type: AGM
Ticker: Meeting Date: 17-Mar-04
ISIN: KR7051910008 Agenda: 700461445 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 05-Mar-04
SEDOL: 6346913
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statement and the dividend KRW 1,750 per 1 common share Mgmt For
2 Amend the Articles of Incorporation Mgmt For
3 Elect Ms./Mr. Ho-Soo Oh as a Director Mgmt For
4 Elect Ms./Mr. Ho-Koon Park as a Director Mgmt For
5 Elect Ms./Mr. Young-Moo Lee as a Director Mgmt For
6 Elect Ms./Mr. Gun-Sik Kim as a Director Mgmt For
7 Elect the Auditor s Committee Member Mgmt For
8 Approve the remuneration limit for the Directors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- ----------------------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 05-Mar-04 05-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- ----------------------------------------------------------------------------------------------------------------------------------
LG ELECTRONICS INC
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y5275H177 Meeting Type: AGM
Ticker: Meeting Date: 12-Mar-04
ISIN: KR7066570003 Agenda: 700458309 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 02-Mar-04
SEDOL: 6520739
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statements expected cash dividend: KRW 1,250 Mgmt For
per 1 ordinary share, KRW 1,300 per 1 preferred share
2 Approve the partial amendment to Articles of Incorporation Mgmt For
3 Elect new outside Directors Mgmt For
4 Elect new Audit Committee Members Mgmt For
5 Approve the decision of limit of remuneration for Directors Mgmt For
6 Approve the severance payment for Directors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- ----------------------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 01-Mar-04 01-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- ----------------------------------------------------------------------------------------------------------------------------------
NONG SHIM CO LTD
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y63472107 Meeting Type: AGM
Ticker: Meeting Date: 12-Mar-04
ISIN: KR7004370003 Agenda: 700451848 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 02-Mar-04
SEDOL: 6638115
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the 40TH balance sheet, income statement and the disposition Mgmt For
of retained earning of year 2003
2 Elect Mr. Yoon Seok Chul as a Director Mgmt For
3 Elect the Auditors Mgmt For
4 Approve the remuneration limit for the Directors Mgmt For
5 Approve the remuneration limit for the Auditors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- ----------------------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 27-Feb-04 27-Feb-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- ----------------------------------------------------------------------------------------------------------------------------------
ORION CORPORATION
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y88860104 Meeting Type: AGM
Ticker: Meeting Date: 19-Mar-04
ISIN: KR7001800002 Agenda: 700462815 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 09-Mar-04
SEDOL: 6896849
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the 48th balance sheet, income statement and the disposition Mgmt For
of retained earning of year 2003; KRW 1,000 per 1 common share
2 Elect the Directors Mgmt For
3 Elect the Auditors Mgmt For
4 Approve the remuneration limit for the Directors Mgmt For
5 Approve the remuneration limit for the Auditors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- ----------------------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 08-Mar-04 08-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- ----------------------------------------------------------------------------------------------------------------------------------
POSCO
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y70334100 Meeting Type: AGM
Ticker: Meeting Date: 12-Mar-04
ISIN: KR7005490008 Agenda: 700457434 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 02-Mar-04
SEDOL: 6693233
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statements/cash dividend KRW 5,000 for 1 common share Mgmt
2 Approve the partial amendment to the Articles of Incorporation as Mgmt
follows: induction of accumulative voting
3 Approve the partial amendment to the Articles of Incorporation as Mgmt
follows: improvement of Corporate governance
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- ----------------------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- ----------------------------------------------------------------------------------------------------------------------------------
POSCO
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y70334100 Meeting Type: AGM
Ticker: Meeting Date: 12-Mar-04
ISIN: KR7005490008 Agenda: 700448651 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 02-Mar-04
SEDOL: 6693233
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 PLEASE NOTE THAT THIS IS AN AMENDMENT TO MEETING # Non-Voting No Vote
122864 DUE TO THE ADDITIONAL RESOLUTIONS. ALL VOTES
RECEIVED ON THE PREVIOUS MEETING WILL BE
DISREGARDEDAND YOU WILL NEED TO REINSTRUCT ON THIS
MEETING NOTICE. THANK YOU.
2 Approve the financial statements/cash dividend KRW 5,000 for 1 common share Mgmt For
3 Approve the partial amendment to the Articles of Incorporation as Mgmt For
follows: induction of accumulative voting
4 Approve the partial amendment to the Articles of Incorporation as Mgmt For
follows: improvement of Corporate governance
5 Elect outside Directors Mgmt For
6 Elect outside Directors as Audit Committee members Mgmt For
7 Elect standing Directors Mgmt For
8 Approve the ceiling amount of total remuneration for the Directors for Mgmt For
the fiscal year 2004
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- ----------------------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 27-Feb-04 27-Feb-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- ----------------------------------------------------------------------------------------------------------------------------------
SAMSUNG ELECTRONICS CO LTD
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y74718100 Meeting Type: AGM
Ticker: Meeting Date: 27-Feb-04
ISIN: KR7005930003 Agenda: 700453183 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 17-Feb-04
SEDOL: 6771720
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statement, the balance sheet, the proposed Mgmt For
disposition of retained earning, the statement of profit and loss and
KRW 5,000 per 1 common share and KRW 5,050 per 1 preferred share
2 Elect an External Director Mgmt For
3 Elect the Auditors Mgmt For
4 Elect an Internal Director Mgmt For
5 Approve the remuneration limit for Directors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- ----------------------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 11-Feb-04 11-Feb-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- ----------------------------------------------------------------------------------------------------------------------------------
SAMSUNG HEAVY INDUSTRIES CO LTD
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y7474M106 Meeting Type: AGM
Ticker: Meeting Date: 27-Feb-04
ISIN: KR7010140002 Agenda: 700454616 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 17-Feb-04
SEDOL: 6772217
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the balance sheet, statement of income and the disposition of Mgmt For
retainedearnings
2 Appoint the Directors Mgmt For
3 Appoint the external Directors Mgmt For
4 Approve to fix the remuneration of the Directors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- ----------------------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 13-Feb-04 13-Feb-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- ----------------------------------------------------------------------------------------------------------------------------------
SAMSUNG SDI CO LTD
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y74866107 Meeting Type: AGM
Ticker: Meeting Date: 27-Feb-04
ISIN: KR7006400006 Agenda: 700453777 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 17-Feb-04
SEDOL: 6771645
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statement/KRW 2,500 per 1 common share Mgmt For
2 Elect the Director Mgmt For
3 Approve the remuneration limit for the Directors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- ----------------------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 13-Feb-04 13-Feb-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- ----------------------------------------------------------------------------------------------------------------------------------
SEKONIX CO LTD
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y7577N100 Meeting Type: AGM
Ticker: Meeting Date: 18-Mar-04
ISIN: KR7053450003 Agenda: 700458094 - Management
City: DONGDOOCHEON Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 08-Mar-04
SEDOL: 6384645
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statement Mgmt For
2 Elect the Directors Mgmt For
3 Elect the Auditors Mgmt For
4 Approve the remuneration limit for the Directors Mgmt For
5 Approve the remuneration limit for the Auditors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- ----------------------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 01-Mar-04 01-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- ----------------------------------------------------------------------------------------------------------------------------------
SHINHAN FINANCIAL GROUP CO LTD
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y7749X101 Meeting Type: AGM
Ticker: Meeting Date: 25-Mar-04
ISIN: KR7055550008 Agenda: 700461899 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 15-Mar-04
SEDOL: 6397502
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statements and KRW 600 per 1 common share Mgmt For
2 Amend the Articles of Incorporation Mgmt For
3 Elect the Directors Mgmt For
4 Elect the Auditor s Committee Member Mgmt For
5 Approve the remuneration limit for the Directors Mgmt For
6 Approve the stock option for employee of the Company and subsidiary Mgmt For
Company
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- ----------------------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 08-Mar-04 08-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- ----------------------------------------------------------------------------------------------------------------------------------
SHINSEGAE CO LTD
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y77538109 Meeting Type: AGM
Ticker: Meeting Date: 05-Mar-04
ISIN: KR7004170007 Agenda: 700455555 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 24-Feb-04
SEDOL: 6805049
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statements, KRW 1,000 per 1 common share Mgmt For
2 Elect Mr. Won Il, Kang, as a Director Mgmt For
3 Elect Mr. Suk Hwan, Park as the Auditor Mgmt For
4 Approve to fix the remuneration of Directors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- ----------------------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 23-Feb-04 23-Feb-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- ----------------------------------------------------------------------------------------------------------------------------------
SK TELECOM CO LTD
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y4935N104 Meeting Type: AGM
Ticker: Meeting Date: 12-Mar-04
ISIN: KR7017670001 Agenda: 700460037 - Management
City: SEOUL Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 02-Mar-04
SEDOL: 6224871
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statements Mgmt For
2 Amend the Articles of Incorporation Mgmt For
3 Approve the remuneration limit for the Directors Mgmt For
4 Appoint the Internal Directors Mgmt For
5 Appoint the Outside Directors for Auditors Committee Mgmt For
6 Approve the resignation of Mr. Tae Won Choi and Mr. Gil Seung Son Mgmt For
* Management position unknown
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- ----------------------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 02-Mar-04 02-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
- ----------------------------------------------------------------------------------------------------------------------------------
SSANGYONG MOTOR CO.
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y8146D102 Meeting Type: AGM
Ticker: Meeting Date: 19-Mar-04
ISIN: KR7003620002 Agenda: 700458208 - Management
City: PYEONGTAEK Holdings Reconciliation Date: 31-Dec-03
Country: SOUTH KOREA Vote Deadline Date: 09-Mar-04
SEDOL: 6276162
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Approve the financial statements Mgmt For
2 Amend the Articles of Incorporation Mgmt For
3 Elect the Auditor s Committee Member Mgmt For
4 Approve the remuneration limit for the Directors Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
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Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 01-Mar-04 01-Mar-04
NOMURA ASSET MANAGEMENT USA INC
KOREA EQUITY FUND, INC.
JULY 1, 2003 THRU JUNE 30, 2004
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TONG YANG CONFECTIONERY CORPORATION
- ----------------------------------------------------------------------------------------------------------------------------------
CUSIP/CINS: Y88860104 Meeting Type: ECM
Ticker: Meeting Date: 22-Aug-03
ISIN: KR7001800002 Agenda: 700399353 - Management
City: SEOUL Holdings Reconciliation Date: 31-Jul-03
Country: SOUTH KOREA Vote Deadline Date: 11-Aug-03
SEDOL: 6896849
- ----------------------------------------------------------------------------------------------------------------------------------
Item Proposal Type** Vote*
- ----------------------------------------------------------------------------------------------------------------------------------
1 Amend the Articles of Incorporation (name change) Mgmt For
__________________________
* Vote indicates how the Fund cast its ballot on the individual items.
Unless otherwise noted, all votes cast "for" or "against" were cast in
accordance with management's recommendation. Abstentions from voting were
not made with management recommendation.
** "Type" indicates whether the proposal was made by management or
shareholders.
- ----------------------------------------------------------------------------------------------------------------------------------
Account Number Custodian Stock Class Ballot Shares Shares on Loan Vote Date Date Confirmed
- ----------------------------------------------------------------------------------------------------------------------------------
8148009 01Q 000 0 11-Aug-03 11-Aug-03
SIGNATURE
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/ Yasushi Suzuki
--------------------------------------------
Yasushi Suzuki
President
Date: August 19, 2004