Exhibit 24



                               POWER OF ATTORNEY


         The undersigned, as a Director and/or officer of each of the
registered investment companies listed below, hereby authorizes Kenneth Munt,
Neil A. Daniele, and Rita Chopra-Brathwaite or any of them, as
attorney-in-fact, to sign on his behalf on any form, or any amendment to such
form, required to be filed by the undersigned pursuant to the reporting
requirements of Section 16(a) of the Securities Exchange Act of 1934 due to
their capacity as a Director and/or officer for each of the following
registered investment companies and to file, at the request of the
undersigned, the same, with all exhibits thereto, with the Securities and
Exchange Commission: Korea Equity Fund, Inc. and Japan Smaller Capitalization
Fund, Inc. This Power of Attorney shall remain in full force and effect until
the undersigned is no longer required to file Forms 3, 4, and 5 with respect
to the undersigned's holdings of and transactions in securities issued by
Korea Equity Fund, Inc. or Japan Smaller Capitalization Fund, Inc., unless
earlier revoked by the undersigned in a signed writing delivered to the
foregoing attorneys-in-fact.

Dated:  February 14, 2008



/s/  Rodney A. Buck
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        Director/Officer Signature


             Rodney A. Buck


/s/ Kenneth Munt
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Kenneth Munt


/s/ Neil Daniele
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Neil Daniele


/s/ Rita Chopra-Brathwaite
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Rita Chopra-Brathwaitee