Korea Equity Fund Inc – ‘NT-NSAR’ for 10/31/04

On:  Thursday, 12/30/04, at 1:22pm ET   ·   Effective:  12/30/04   ·   For:  10/31/04   ·   Accession #:  905148-4-5503   ·   File #:  811-08002

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Notice of a Late Filing of a Form N-SAR   —   Form 12b-25
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: NT-NSAR     Notice of a Late Filing of a Form N-SAR                4     11K 

NT-NSAR
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SECURITIES AND EXCHANGE COMMISSION  
WASHINGTON, D.C. 20549  

FORM 12b-25 

                                                   SEC File Number 811-08002
                                                     CUSIP Number 50063B-104

NOTIFICATION OF LATE FILING 

(Check One):                                                                    
[ ] Form 10-K                            [ ] Form 20-F                          
[ ] Form 11-K                            [ ] Form 10-Q                          
[X] Form N-SAR                           [ ] Form N-CSR                         

For Period Ended: October 31, 2004                                    

[ ]  Transition Report on Form 10-K                                   
[ ]  Transition Report on Form 20-F                                   
[ ]  Transition Report on Form 11-K                                   
[ ]  Transition Report on Form 10-Q                                   
[ ]  Transition Report on Form N-SAR                                  
[ ]  Transition Report on Form N-CSR                                  

For the Transition Period Ended:____________________________          

Read Attached Instruction Sheet Before Preparing Form. Please Print or
Type.                                                                           

  Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.                                      

If the notification relates to a portion of the filing checked above, 
identify the Item(s) to which the notification                                  
relates:________________________                                                

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NT-NSAR
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PART I.-REGISTRANT INFORMATION                                                  

Full Name of Registrant (Former Name if Applicable)                   

       Korea Equity Fund, Inc.

Address of Principal Executive Office (Street and Number)             

        Two World Financial Center
        Building B, 22nd Floor
        New York, New York 10281

PART II.-RULE 12b-25 (b) and (c)                                                

 If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the         
following should be completed. (Check box if appropriate)                       

 X    (a) The reasons described in reasonable detail in Part III of this
---                                                                     
form could not be eliminated without unreasonable effort or expense;            

 (b) The subject annual report, semi-annual report, transition
---                                                                     
report on Form 10-K, Form 20-F, 11-K, Form N-SAR or Form N-CSR, or portion      
thereof will be filed on or before the 15th calendar day following the          
prescribed due date; or the subject quarterly report or transition report on    
Form 10-Q, or portion thereof will be filed on or before the fifth calendar     
day following the prescribed due date; and                                      

    (c) The accountant's statement or other exhibit required by Rule
---                                                                     
12b-25(c) has been attached if applicable.                                      

PART III.-NARRATIVE                                                             

  State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K,
10-Q, N-SAR, N-CSR or the transition report or portion thereof could not be     
filed within the prescribed time period. (Attach extra sheets if needed.)       

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NT-NSAR
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During November 2004, PricewaterhouseCoopers LLP ("PwC") resigned as            
independent registered public accountant of the Fund because PwC was appointed  
to provide non-audit services to certain affiliates of the Fund's Manager,      
which could be viewed as inconsistent with auditor independence with respect    
to the Fund. Based on the recommendation of the Audit Committee of the Fund,    
the Board of Directors voted to appoint Ernst & Young LLP for the fiscal year   
ended October 31, 2004. Due to the timing of receipt by the Fund of documents   
required to be filed with Form N-SAR, the Fund seeks an extention to make its   
N-SAR Filing. The Fund's Form N-SAR will be completed and filed with the        
Securities and Exchange Commission as soon as practicable.                      

PART IV.-OTHER INFORMATION                                                      

(1) Name and telephone number of person to contact in regard to this  
notification.                                                                   

Neil Daniele                         (212)                    667-1873          
------------------------------------------------------------------------------  
(Name)                            (Area code)              (Telephone number)   

   (2) Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment Company     
Act of 1940 during the preceding 12 months or for such shorter period that the  
registrant was required to file such report(s) been filed? If answer is no,     
identify report(s).                                                             

X  Yes                            No                        
---                            ---                            

(3) Is it anticipated that any significant change in results of       
operations from the corresponding period for the last fiscal year will be       
reflected by the earnings statements to be included in the subject report or    
portion thereof?                                                                

Yes                         X  No                     
---                            ---                            

  If so, attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a reasonable     
estimate of the results cannot be made.                                         

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NT-NSAR
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  Korea Equity Fund, Inc. has caused this notification to be signed on its
behalf by the undersigned thereunto duly authorized.                            

Date:  December 30, 2004                                                        

By:       /s/ Kenneth L. Munt                                                   
--------------------------                                        
Kenneth L. Munt                                                   
Vice President                                                    

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Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘NT-NSAR’ Filing		Date		First		Last			Other Filings
Filed on / Effective on:		12/30/04		4					SC 13D
For Period End:		10/31/04		1		3			N-CSR,  N-CSR/A,  N-Q,  NSAR-B
									List all Filings