SCHEDULE 14A INFORMATION

PROXY STATEMENT PURSUANT TO SECTION 14(a)
OF THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )

Filed by the Registrant [ ]
Filed by a Party other than the Registrant [x]

Check the appropriate box:
Preliminary Proxy Statement [x]
Confidential, for Use of the Commission Only (as permitted by
Rule 14a-6(e)(2))
Definitive Proxy Statement
Definitive Additional Materials
Soliciting Material Pursuant to ss.240.14a-11(c) or ss.240.14a-
12

Korea Equity Fund, Inc.
(Name of Registrant as Specified in Its Charter)

Bulldog Investors General Partnership
Name of Person(s) Filing Proxy Statement, if other than the
Registrant)

Payment of Filing Fee (Check the appropriate box):

No fee required [x].

Fee computed on table below per Exchange Act Rules 14a-6(i)(4)
and 0-11.

(1) Title of each class of securities to which transaction
applies:

(2) Aggregate number of securities to which transaction
applies:

(3) Per unit price or other underlying value of transaction
computed pursuant to Exchange Act Rule 0-11 (Set forth the
amount on which the filing fee is calculated and state how it
was determined):

(4) Proposed maximum aggregate value of transaction:

(5) Total fee paid:

Fee paid previously with preliminary materials [].

Check box if any part of the fee is offset as provided by
Exchange Act Rule 0-11 (a) (2) and identify the filing for which
the offsetting fee was paid previously. Identify the previous
filing by registration statement number, or the Form or Schedule
and the date of its filing [].

(1) Amount Previously Paid:

(2) Form, Schedule or Registration Statement No.:

(3) Filing Party:

(4) Date Filed:




PROXY STATEMENT OF BULLDOG INVESTORS GENERAL PARTNERSHIP IN OPPOSITION TO THE
SOLICITATION BY THE BOARD OF DIRECTORS OF KOREA EQUITY FUND, INC. FOR THE
ANNUAL MEETING OF SHAREHOLDERS

Bulldog Investors General Partnership ("BIGP") is sending this proxy statement
and the enclosed GREEN proxy card to stockholders of Korea Equity Fund, Inc.
(the "Fund") of record as of June 29, 2010.  We are soliciting a proxy to vote
your shares at the Annual Meeting of Shareholders (the "Meeting") which is
scheduled for August 10, 2010.  Please refer to the Fund's proxy soliciting
material for additional information concerning the Meeting and the matters to
be considered by shareholders including the election of Directors.  This proxy
statement and the enclosed GREEN proxy card are first being sent to
shareholders on or about July --, 2010.

INTRODUCTION

The Fund has announced that three matters will be presented at the Meeting:
(1) the election of one director; (2) the ratification of the selection of
Ernst & Young LLP as the Fund's independent registered public accounting firm
for the fiscal year ending October 31, 2010; and (3) a shareholder proposal
requesting the Board to take action to convert the Fund to an interval fund.
In addition, an affiliate of BIGP intends to present two proposals to:
(4) terminate the management agreement between the Fund and Nomura Asset
Management U.S.A. Inc.; and (5) recommend that the Board of Directors
authorize a self-tender offer for all outstanding common shares of the Fund
at net asset value (NAV).  The Board of Directors has refused to include
these two proposals on its proxy card and will vote all its proxies against
them. If you wish to have your shares voted on these proposals in accordance
with your wishes, you may do so by returning the enclosed GREEN proxy card.

We are soliciting a proxy to vote your shares FOR the election of the nominee
named below as a director and FOR each of the aforementioned proposals.

REASONS FOR THE SOLICITATION

The Fund's common shares have long traded at a discount to net asset value.
We believe shareholders should now be afforded an opportunity to realize the
full value of their investment.  Consequently, we are seeking (1) to elect
a director that will support this goal and (2) to terminate the existing
management agreement because the Fund's investment advisor has not supported
this goal.

HOW PROXIES WILL BE VOTED
If you complete and return a GREEN proxy card to us and, unless you direct
otherwise, your shares will be voted FOR the election of the nominee named
below, and FOR each proposal.  In addition, you will be granting the proxy
holders discretionary authority to vote on any other matters that may come
before the Meeting.


VOTING REQUIREMENTS

A quorum is a majority of the total shares outstanding. The affirmative vote
of a majority of the votes entitled to be cast at the Meeting is required to
elect a director.  Approval of each proposal except the termination proposal
requires the affirmative vote of a majority of the votes cast by all
shareholders represented at the Meeting. Approval of the termination proposal
requires the affirmative vote of shareholders owning the lesser of
(a) 67 percent or more of the shares present at the Meeting, or
(b) more than 50 percent of the Fund's outstanding shares. An abstention or a
broker non-vote will have the same effect as a vote against the termination
proposal and will be ignored in determining the votes cast for or against the
other proposals.

REVOCATION OF PROXIES
You may revoke any proxy prior to its exercise by: (i) delivering a written
revocation to us; (ii) executing and delivering a later dated proxy; or
(iii) voting in person at the Meeting.  Attendance at the Meeting will not
in and of itself revoke a proxy.  There is no limit on the number of times
you may revoke your proxy before it is exercised.  Only your latest dated
proxy will be counted.

PROPOSAL 1: ELECTION OF ONE DIRECTOR

At the Meeting, our affiliate intends to nominate the person named below for
election as a Director.  There are no arrangements or understandings between
BIGP or any affiliate of BIGP and the nominee in connection with the
nomination nor do we know of any material conflicts of interest that would
prevent him from acting in the best interest of the Fund.

Phillip Goldstein (born 1945); Park 80 West, Plaza Two Park 80 West,
250 Pehle Avenue, Suite 708, Saddle Brook, NJ 07663.  Since 1992,
Mr. Goldstein has been an investment advisor and a principal of the general
partner of six investment partnerships in the Bulldog Investors group of
private funds and that are general partners of BIGP.  He is a director of
the following closed-end funds: Mexico Equity and Income Fund since 2000,
Brantley Capital Corporation since 2001, ASA Ltd since 2008, and Special
Opportunities Fund (f/k/a Insured Municipal Income Fund) since 2009.  Since
 2009, he has been a principal of Brooklyn Capital Management, the current
investment adviser to Special Opportunities Fund.

Mr. Goldstein and his wife jointly beneficially own 5,000 common shares of the
Fund.  In addition, as an investment advisor for his clients, is deemed to
beneficially own ---------- common shares of the Fund, all of which were
purchased since --------------.

Unless instructions to the contrary are given, your proxy will be voted
FOR Mr. Goldstein.

PROPOSAL 2: RATIFICATION OF THE SELECTION OF ERNST & YOUNG LLP AS THE FUND'S
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING
OCTOBER 31, 2010

Unless instructions to the contrary are given, your proxy will be voted FOR
this proposal.

PROPOSAL 3: A SHAREHOLDER PROPOSAL REQUESTING THAT THE BOARD TAKE ACTION TO
CONVERT THE FUND TO AN INTERVAL FUND AND ESTABLISH A RELATED FUNDAMENTAL
POLICY.

Please refer to the Fund's proxy soliciting material for additional information
concerning this proposal.  This proposal, if adopted, is not binding on the
board. Unless instructions to the contrary are given, your proxy will be voted
FOR this proposal.

PROPOSAL 4:  A PROPOSAL TO TERMINATE THE INVESTMENT ADVISORY BETWEEN THE FUND
AND NOMURA ASSET MANAGEMENT U.S.A. INC.

We believe the Fund should dissociate itself from its current investment
manager because it has not expressed support for the goal of providing
shareholders with an opportunity to realize the full value of their investment.
If this proposal is approved, the Board may replace Nomura with a more
shareholder friendly advisory firm.  Unless instructions to the contrary are
given, your proxy will be voted FOR this proposal.

PROPOSAL 5: THE BOARD IS REQUESTED TO AUTHORIZE A SELF-TENDER OFFER FOR ALL
OUTSTANDING COMMON SHARES OF THE FUND AT NET ASSET VALUE (NAV).

The Fund's common shares have long traded at a discount to net asset value.
If more than 50% of the Fund's outstanding common shares are tendered, we
think the tender offer should be cancelled and the Fund should be liquidated
or merged into an open-end mutual fund.

This proposal, if adopted, is not binding on the board.  Unless instructions
to the contrary are given, your proxy will be voted FOR this proposal.

THE SOLICITATION

We intend to solicit proxies via mail, telephone and via the internet.
Our proxy materials are available on the following web site:
http://www.bulldoginvestorstenderoffer.com/.  Persons affiliated with or
employed by BIGP or its affiliates may assist us in the solicitation of
proxies.  Banks, brokerage houses and other custodians, nominees and
fiduciaries will be requested to forward this proxy statement and the
enclosed GREEN proxy card to the beneficial owners of common and preferred
shares for whom they hold shares of record.  We will reimburse these
organizations for their reasonable out-of-pocket expenses.

Initially, we will bear all of the expenses related to this proxy
solicitation.  Because we believe that all shareholders will benefit from
this solicitation, we intend to seek, subject to any applicable regulatory
requirements, reimbursement of our expenses.  Shareholders will not be asked
to vote on the reimbursement of these expenses, which we estimate will
total $30,000.


PARTICIPANTS

Only BIGP and Mr. Goldstein are participants in this solicitation. BIGP
beneficially owns ------- common shares.  As noted above, Mr. Goldstein and
his wife jointly beneficially own 5,000 common shares and other clients
advised by Mr. Goldstein own a total of ---------- common shares. In addition,
affiliates of BIGP beneficially own ---------- common shares. The address of
BIGP and Mr. Goldstein is Park 80 West, Plaza Two, Suite 750, Saddle Brook,
NJ 07663. All of the shares owned by the aforementioned persons and entities
were acquired since ----------------.  No participant or associate of any
participant in this solicitation is or has been a party to any contract,
arrangements or understanding with any person with respect to any securities
of the Fund or has any arrangement or understanding with any person with
respect to future employment by the Fund or any of its affiliates or to any
future transactions to which the Fund or any of its affiliates will or may
be a party.

LITIGATION
On January 31, 2007, the Enforcement Section of the Securities Division of
the Massachusetts Secretary of State (the "Secretary") filed a complaint
with the Acting Director of the Securities Division against BIGP,
Mr. Goldstein, and certain related parties (the "Bulldog Parties") alleging
that they violated Massachusetts law by making information about certain
unregistered securities available on the Bulldog Investors website and by
providing information about such investments to an individual who requested
it without first determining that the individual was eligible to invest in
such securities.  The Enforcement Section sought a cease and desist order,
an administrative fine, and other relief.  On October 17, 2007, the Acting
Director issued a cease and desist order and imposed a fine of $25,000 on
the Bulldog Parties.  On November 15, 2007, the Bulldog Parties appealed
the Secretary's ruling to the Massachusetts Superior Court which upheld
the Secretary's order in an order and opinion dated February 12, 2009.
On February 25, 2009, the Bulldog Parties filed a further appeal with the
Appellate Court of Massachusetts.  On October 21, 2009 the Massachusetts
Supreme Judicial Court, the state's highest court, transferred the case
on its own motion from the Appellate Court. As a result, the Supreme
Judicial Court will decide the appeal.

July --, 2010




PROXY CARD

This proxy is solicited in opposition to the Board of Directors of Korea
Equity Fund, Inc. (the "Fund") by Bulldog Investors General Partnership
("BIGP") for the Fund's 2010 Annual Meeting of Shareholders (the "Meeting").
The undersigned hereby appoints Phillip Goldstein, Rajeev Das, and Andrew
Dakos and each of them, as the undersigned's proxies, with full power of
substitution, to attend the Meeting and any adjourned or postponed Meeting,
and to vote on all matters that come before the Meeting the number of
shares that the undersigned would be entitled to vote if present in person,
as specified below.

(INSTRUCTIONS:  Mark votes by placing an "x" in the appropriate [  ].)

1. ELECTION OF ONE DIRECTOR

[  ] FOR PHILLIP GOLDSTEIN 			[  ] WITHHOLD AUTHORITY

2. TO RATIFY THE SELECTION OF ERNST & YOUNG LLP AS THE FUND'S INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING OCTOBER 31,
2010

FOR [   ]			AGAINST [   ]			ABSTAIN [   ]

3. TO REQUEST THAT THE BOARD TAKE ACTION TO CONVERT THE FUND TO AN INTERVAL
FUND AND ESTABLISH A RELATED FUNDAMENTAL POLICY

FOR [   ]			AGAINST [   ]			ABSTAIN [   ]

4. TO TERMINATE THE MNAGEMENT AGREEMENT BETWEEN THE FUND AND NOMURA ASSET
MANAGEMENT U.S.A. INC.

FOR [   ]			AGAINST [   ]			ABSTAIN [   ]

5. TO REQUEST THAT THE BOARD AUTHORIZE A SELF-TENDER OFFER FOR ALL OUTSTANDING
COMMON SHARES OF THE FUND AT NET ASSET VALUE (NAV)

FOR [   ]			AGAINST [   ]			ABSTAIN [   ]

Please sign and date below.  Your shares will be voted as directed.  If no
direction is made, this proxy will be voted FOR the election of the nominee
named above, and FOR Proposals 2, 3, 4, and 5.  The undersigned hereby
acknowledges receipt of the proxy statement dated July --, 2010 of BIGP and
revokes any proxy previously executed.




Signature(s)___________________________________  	Dated: _______________