-----BEGIN PRIVACY-ENHANCED MESSAGE-----
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<SEC-DOCUMENT>0000930413-04-004506.txt : 20040924
<SEC-HEADER>0000930413-04-004506.hdr.sgml : 20040924
<ACCEPTANCE-DATETIME>20040924172330
ACCESSION NUMBER:		0000930413-04-004506
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20040924
DATE AS OF CHANGE:		20040924

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRESIDENT & FELLOWS OF HARVARD COLLEGE
		CENTRAL INDEX KEY:			0000315016
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				042103580
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		C/O HARVARD MANAGEMENT COMPANY INC
		STREET 2:		600 ATLANTIC AVENUE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210
		BUSINESS PHONE:		6175234400

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KOREA FUND INC
		CENTRAL INDEX KEY:			0000748691
		IRS NUMBER:				133226146
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-36819
		FILM NUMBER:		041045676

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVE
		STREET 2:		C/O DEUTSCHE ASSET MANAGEMENT
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154
		BUSINESS PHONE:		617-295-3986

	MAIL ADDRESS:	
		STREET 1:		DEUTSCHE ASSET MANAGEMENT
		STREET 2:		TWO INTERNATIONAL FUND
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>c33804.txt
<TEXT>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D. C. 20549

                                  SCHEDULE 13D

                    UNDER THE SECURITIES EXCHANGE ACT OF 1934

                                (AMENDMENT NO. 5)

                              THE KOREA FUND, INC.
                                (Name of Issuer)

                                  COMMON STOCK
                         (Title of Class of Securities)

                                    500634100
                                 (CUSIP Number)

                                 Michael Pradko
                        Harvard Management Company, Inc.
                               600 Atlantic Avenue
                           Boston, Massachusetts 02210
                                 (617) 523-4400

                                 with a copy to:

                              Theodore Altman, Esq.
                                Piper Rudnick LLP
                           1251 Avenue of the Americas
                          NEW YORK, NEW YORK 10020-1104

                  (Name, Address and Telephone Number of Person
                Authorized to Receive Notices and Communications)

                               SEPTEMBER 23, 2004
             (Date of Event Which Requires Filing of this Statement)

         If the filing person has  previously  filed a statement on Schedule 13G
         to report the acquisition that is the subject of this Schedule 13D, and
         is filing this schedule because of ss.ss.240.13d-1(e),  240.13d-1(f) or
         240.13d-1(g), check the following box. [ ]



<PAGE>


<TABLE>
<CAPTION>



- --------------------------------                                                        ---------------------------------
CUSIP No. 500634100                          SCHEDULE 13D AMENDMENT NO. 5                           Page 2 of 4 Pages
<S>           <C>                        <C>                                                          <C>
- --------------------------------                                                        ---------------------------------
- ------------- -----------------------------------------------------------------------------------------------------------
     1        NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NUMBERS

              President and Fellows of Harvard College

- ------------- -----------------------------------------------------------------------------------------------------------
     2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                                                      (a)    |_|
                                                                                                      (b)    |_|

- ------------- -----------------------------------------------------------------------------------------------------------
     3        SEC USE ONLY


- ------------- -----------------------------------------------------------------------------------------------------------
     4        SOURCE OF FUNDS

              WC
- ------------- -----------------------------------------------------------------------------------------------------------
     5        CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)    |_|

- ------------- -----------------------------------------------------------------------------------------------------------
     6        CITIZENSHIP OR PLACE OF ORGANIZATION

              Massachusetts
- ------------------------------------ --------- --------------------------------------------------------------------------
   NUMBER OF SHARES BENEFICIALLY        7      SOLE VOTING POWER

                                               9,924,971
                                     --------- --------------------------------------------------------------------------
           OWNED BY EACH                8      SHARED VOTING POWER
       REPORTING PERSON WITH
                                               0
                                     --------- --------------------------------------------------------------------------
                                        9      SOLE DISPOSITIVE POWER

                                               0
                                     --------- --------------------------------------------------------------------------
                                        10     SHARED DISPOSITIVE POWER

                                               0
- ------------------------------------
- ------------- -----------------------------------------------------------------------------------------------------------
     11       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

              9,924,971
- ------------- -----------------------------------------------------------------------------------------------------------
     12       CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES    |_|

- ------------- -----------------------------------------------------------------------------------------------------------
     13       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

              22.2%
- ------------- -----------------------------------------------------------------------------------------------------------
     14       TYPE OF REPORTING PERSON

              EP
- ------------- -----------------------------------------------------------------------------------------------------------

</TABLE>


<PAGE>


        This fifth amendment (the "Fifth  Amendment") amends and supplements the
statement on Schedule 13D, as amended by Amendments  No. 1, No. 2, No. 3 and No.
4 (the "Schedule"), previously filed with the Securities and Exchange Commission
on  December  15,  2003  by  the  President  and  Fellows  of  Harvard   College
("Harvard"),  with respect to the common  stock,  par value $0.01 per share (the
"Common Stock"), of The Korea Fund, Inc., a Maryland corporation (the "Issuer").

         ITEM 4.           PURPOSE OF TRANSACTION

         On September 23, 2004 Sowood Capital  Management L.P.,  ("Sowood"),  in
its capacity as advisor to Harvard,  sent a letter to Robert J.  Callander,  the
Chairman  of the board of  directors  of the  Issuer  requesting  that the board
consider  an  alternative  manager  for  the  Issuer.  Sowood  had  received  an
unsolicited  proposal for the alternative  manager from  representatives  of ING
Barings.   Sowood  considers  the  manager  proposed  by  ING  a  very  credible
alternative to the Issuer's existing  management.  It suggested that ING contact
Issuer's board directly since  selection of the Issuer's  manager is the board's
responsibility. The full text of the letter is set forth as Exhibit 99.1 hereto.

         Except as described in this  Schedule 13D as amended,  Harvard does not
have any  plans or  proposals  which  relate  to or would  result  in any of the
actions set forth in parts (a) through (j) of Item 4. Harvard reserves the right
to make any such plans or  proposals in the future or to take any other steps to
enhance the value of its investment.

         ITEM 5.           INTEREST IN SECURITIES OF THE ISSUER

         Subsections  5(a) and (b) are amended and restated in their entirety to
read as follows:

         (a) Harvard is the beneficial owner of 9,924,971 shares of Common Stock
(approximately 22.2% of the shares of the Issuer's issued and outstanding Common
Stock based on the most recent filing of the Issuer with the SEC).

         (b)  Harvard  has the sole  power to vote  9,924,971  shares  of Common
Stock.  Sowood has assumed  sole  dispositive  power with respect to such shares
pursuant to an investment management agreement between Harvard and Sowood.

         ITEM 6.           CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR
                           RELATIONSHIPS WITH RESPECT TO SECURITIES OF
                           THE ISSUER

         Sowood has assumed sole dispositive power with respect to the 9,924,971
shares of the  Common  Stock  pursuant  to an  investment  management  agreement
between Harvard and Sowood.

         ITEM 7.           MATERIALS TO BE FILED AS EXHIBITS

         The following document is filed as an Exhibit to this Fifth Amendment:


         EXHIBIT 99.1:     Letter, dated September 23, 2004.





<PAGE>


                                   SIGNATURES

         After  reasonable  inquiry and to the best of its knowledge and belief,
the  undersigned  certifies that the  information  set forth in this Schedule is
true, complete and correct.


Dated:  September 24, 2004              PRESIDENT AND FELLOWS OF HARVARD COLLEGE



                                        By: /s/ Nancy Donohue
                                            ----------------------------------
                                            Name: Nancy Donohue, Vice President
                                            Title:  Authorized HMC Signatory




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>c33804_ex99-1.txt
<TEXT>
                                                                    EXHIBIT 99.1




- --------------------------------------------------------------------------------
SOWOOD                            500 BOYLSTON ST., 17TH FLOOR, BOSTON, MA 02116
Capital Management LP             Phone: 617-603-3400           Fax:617-603-3401
- --------------------------------------------------------------------------------



September 23, 2004



Mr. Robert J. Callander
Chairman of the Korea Fund Board
And the Members of the Board
c/o Deutsche Investment Management
Americas Inc. 345 Park Avenue
New York, NY 10154

Dear Members of the Board,

On Monday,  September 13, we met with two  representatives of ING Barings in our
capacity as advisors to President and Fellows of Harvard College.  ING presented
an  unsolicited  proposal  regarding  the  Korea  Fund.  ING has  identified  an
alternative  manager experienced both in the Korean markets and in management of
closed end funds.  In their opinion,  the alternative  manager has  demonstrated
superior investment capability and a strong focus on shareholder value.

We have  informed ING that,  although  their  proposal  presents a very credible
alternative to the existing management, it is the responsibility of the Board to
select the Fund's manager. We suggested that they contact the Board directly and
we encourage the Board to consider their proposal.  The contact  information for
Mr. Nicholas R. Gold, Managing Director, is included below.

Sincerely,

/s/ Jeff Larson

Jeff Larson
Principal
Sowood Capital Management LP


<PAGE>


Detail:  Nicholas R Gold, Managing Director
         ING Investment Banking
         Direct Dial:  +44 20 7767 1697
         Fax:  +44 20 7767 7222
         Email:  Nicholas.gold@ing-barrings.com

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
