1. Presently, EURO/Korea Free Trade Agreement(FTA) negotiation is proceeding. If the FTA is finalized, then, it seems that a huge investment capital will flow into Korea as the global recession is going to dwindle. 2. To face such a situation, Korea should prepare to induce such a fund to accommodate into Korea. One of the most efficient and effective way to do so is to establish EURO/Korea Development Special Bank. However, the establishment of such a bank is needed long term international political and diplomatic efforts, as seen at the case of North East Asia Development Bank which has lasted more than 15 years' debate and as yet no or little fruitful results come out. 3. Therefore, design of EURO/Korea Development Fund is the second best idea to be realized. Among many funds, Korea Fund would be one of the best bench marking model, together with Korea Euro Fund and Korea Asia Fund. 4. In short, EURO/Korea Fund is close-end country fund listed Amsterdam Stock Exchange and Korea Stock Exchange, if possible. As to the underwriters, joint lead managers would be ING for EURO and Daewoo Securites for Korea. Attorney at law would be Kim & Chang and custodian bank would be Korea Exchange Bank and AMBN-AMRO. Investment management companies would be selected by joint lead managers, namely one each of the joint lead managers home country. Rest of procedures can follow after Korea Fund case.