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                                                                  EXHIBIT 10.2

                           HANMI FINANCIAL CORPORATION
                           YEAR 2000 STOCK OPTION PLAN

         1.       PURPOSE

                  The purpose of the Hanmi Financial Corporation Year 2000
Stock Option Plan (the "Plan") is to strengthen Hanmi Financial Corporation
(the "Company") and those banks and corporations which are or hereafter
become subsidiary corporations (the "Subsidiary" or "Subsidiaries") by
providing additional means of attracting and retaining competent managerial
personnel and by providing to participating directors, officers and key
employees added incentive for high levels of performance and for unusual
efforts to increase the earnings of the Company and its Subsidiaries. The
Plan seeks to accomplish these purposes and achieve these results by
providing a means whereby such directors, officers and key employees may
purchase shares of the Common Stock of the Company pursuant to Stock Options
granted in accordance with this Plan.

                  Stock Options granted pursuant to this Plan are intended to
be Incentive Stock Options or Non-Qualified Stock Options, as shall be
determined and designated by the Stock Option Committee upon the grant of
each Stock Option hereunder.

         2.       DEFINITIONS

                  For the purposes of this Plan, the following terms shall
have the following meanings:

                  (a)      "CODE." This term shall mean the Internal Revenue
Code of 1986, as amended, and the regulations promulgated thereunder.

                  (b)      "COMMON STOCK." This term shall mean shares of the
Company's common stock, subject to adjustment pursuant to Section 15.

                  (c)      "COMPANY." This term shall mean Hanmi Financial
Corporation.

                  (d)      "ELIGIBLE PARTICIPANTS." This term shall mean: (i)
all directors of the Company or any Subsidiary; (ii) all officers (whether or
not they are also directors) of the Company or any Subsidiary; and (iii) all
key employees (as such persons may be determined by the Stock Option
Committee from time to time) of the Company or any Subsidiary, provided that
such officers and key employees have a customary work week of at least forty
hours in the employ of the Company or a Subsidiary.

                  (e)      "EXCHANGE ACT." This term shall mean the
Securities Exchange Act of 1934, as amended.

                  (f)      "FAIR MARKET VALUE." This term shall mean on any
date (the "Determination Date") shall be equal to the closing price per share
of Common Stock on the business day

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immediately preceding the Determination Date, as reported in The Wall Street
Journal, Western Edition, or, if no closing price was so reported for such
immediately preceding business day, the closing price for the next preceding
business day for which a closing price was so reported, or, if no closing
price was so reported for any of the 30 business days immediately preceding
the Determination Date, the average of the high bid and low asked prices per
share of Common Stock on the business day immediately preceding the
Determination Date in the over-the-counter market, as reported by the
National Association of Securities Dealers, Inc. Automated Quotations System
("NASDAQ") or such other system then in use, or, if the Common Stock is not
quoted by any such organization on such immediately preceding business day,
the average of the closing bid and asked prices on such day as furnished by a
professional market maker making a market in the Common Stock selected by the
Stock Option Committee. In all other cases, the Fair Market Value shall be
determined by the Stock Option Committee.

                  (g)      "INCENTIVE STOCK OPTION." This term shall mean a
Stock Option which is an "incentive stock option" within the meaning of
Section 422 of the Code.

                  (h)      "NON-QUALIFIED STOCK OPTION." This term shall mean
a Stock Option which is not an Incentive Stock Option.

                  (i)      "OPTION SHARES." This term shall mean Common Stock
covered by and subject to any outstanding unexercised Stock Option granted
pursuant to this Plan.

                  (j)      "OPTIONEE." This term shall mean any Eligible
Participant to whom a Stock Option has been granted pursuant to this Plan,
provided that at least part of the Stock Option is outstanding and
unexercised.

                  (k)      "PLAN." This term shall mean the Hanmi Financial
Corporation Year 2000 Stock Option Plan as embodied herein and as may be
amended from time to time in accordance with the terms hereof and applicable
law.

                  (l)      "STOCK OPTION." This term shall mean the right to
purchase Common Stock under this Plan in a specified number of shares, at a
price and upon the terms and conditions determined by the Stock option
Committee.

                  (m)      "STOCK OPTION COMMITTEE." The Board of Directors
of the Company may select and designate a Stock Option Committee consisting
of three or more directors of the Company each of whom is an "outside
director" within the meaning of Section 162(m) of the Code and who otherwise
comply with the requirements of Rule 166-3 of the Exchange Act. Regardless of
whether a Stock Option Committee is selected, the Board of Directors of the
Company may act as the Stock Option Committee and any action taken by said
Board as such shall be deemed to be action taken by the Stock Option
Committee. All references in the Plan to the "Stock Option Committee" shall
be deemed to refer to the Board of Directors of the Company acting as the
Stock Option Committee and to a duly appointed Stock Option Committee, if
there be one. In the event of any conflict between action taken by the Board
acting as a Stock Option Committee and action taken by a duly

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appointed Stock Option Committee, the action taken by the Board shall be
controlling and the action taken by the duly appointed Stock Option Committee
shall be disregarded.

                  (n)      "SUBSIDIARY." This term shall mean each
"subsidiary corporation" (treating the Company as the employer corporation)
as defined in Section 424(f) of the Code.

         3.       ADMINISTRATION

                  (a)      STOCK OPTION COMMITTEE. This Plan shall be
administered by the Stock Option Committee. The Board of Directors of the
Company shall have the right, in its sole and absolute discretion, to remove
or replace any person from or on the Stock Option Committee at any time for
any reason whatsoever.

                  (b)      ADMINISTRATION OF THE PLAN. Any action of the
Stock Option Committee with respect to the administration of the Plan shall
be taken pursuant to a majority vote, or pursuant to the unanimous written
consent, of its members. Any such action taken by the Stock Option Committee
in the administration of this Plan shall be valid and binding, so long as the
same is not inconsistent with the terms and conditions of this Plan. Subject
to compliance with the terms, conditions and restrictions set forth in this
Plan, the Stock Option Committee shall have the exclusive right, in its sole
and absolute discretion, to establish the terms and conditions of all Stock
Options granted under the Plan, including, without limitation, the power to:
(i) establish the number of Stock Options, if any, to be granted hereunder,
in the aggregate and with regard to each Eligible Participant; (ii) determine
the time or times when such Stock Options, or parts thereof, may be
exercised; (iii) determine and designate which Stock Options granted under
the Plan shall be Incentive Stock Options and which shall be Non-Qualified
Stock Options; (iv) determine the Eligible Participants, if any, to whom
Stock Options are granted; (v) determine the duration and purposes, if any,
of leaves of absence which may be permitted to holders of unexercised,
unexpired Stock Options without such constituting a termination of employment
under the Plan; and (vi) prescribe and amend the terms, provisions and form
of each instrument and agreement setting forth the terms and conditions of
every Stock Option Granted hereunder.

                  (c)      DECISIONS AND DETERMINATIONS. Subject to the
express provisions of the Plan, the Stock Option Committee shall have the
authority to construe and interpret this Plan, to define the terms used
herein, to prescribe, amend, and rescind rules and regulations relating to
the administration of the Plan, and to make all other determinations
necessary or advisable for administration of the Plan. Determinations of the
Stock Option Committee on matters referred to in this Section 3 shall be
final and conclusive so long as the same are not inconsistent with the terms
of this Plan.

         4.       SHARES SUBJECT TO THE PLAN

                  Subject to adjustments as provided in Section 15 hereof,
the maximum number of shares of Common Stock which may be issued upon
exercise of all Stock Options granted under this Plan is limited to [ ] ([ ])
in the aggregate. If any Stock Option shall be canceled, surrendered,

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or expire for any reason without having been exercised in full, the
unpurchased Option Shares represented thereby shall again be available for
grants of Stock Options under this Plan.

         5.       ELIGIBILITY

                  Only Eligible Participants shall be eligible to receive
grants of Stock Options under this Plan.

         6.       GRANTS OF STOCK OPTIONS

                  (a)      GRANT. Subject to the express provisions of the
Plan, the Stock Option Committee, in its sole and absolute discretion, may
grant Stock Options:

                        (i)      In the case of grants to Eligible
         Participants who are officers or key employees of the Company or any
         Subsidiary, for a number of Option Shares, at the price(s) and
         time(s), and on the terms and conditions as it deems advisable and
         specifies in the respective grants; provided, however, that the
         number of Option Shares outstanding to any such Eligible Participant
         shall at no time exceed ten percent (10%) of the total outstanding
         shares of the Company's Common Stock issued and outstanding; and

                       (ii)      In the case of grants to Eligible
         Participants who are directors and who are not officers or key
         employees of the Company or any Subsidiary, for a number of Option
         Shares, at the price(s) and time(s), and on the terms and conditions
         as it deems advisable and specifies in the respective grants;
         provided, however, that such grants may not exceed a maximum of [ ]
         ([ ]) Option Shares to all directors at any time, exclusive of any
         Option Shares granted under Section 6(a)(i) hereof; and provided
         further, however, that the number of Option Shares outstanding to
         any such Eligible Participant shall at no time exceed ten percent
         (10%) of the total outstanding shares of the Company's Common Stock
         issued and outstanding. The foregoing maximum numbers of Option
         Shares which may be granted to all directors of the Company at any
         time shall be adjusted in accordance with the provisions of Section
         15 hereof.

                  The terms upon which and the times at which, or the periods
within which, the Option Shares subject to such Stock Options may become
acquired or such Stock Options may be acquired and exercised shall be as set
forth in the Plan and the related Stock Option Agreements.

                  Subject to the limitations and restrictions set forth in
the Plan, an Eligible Participant who has been granted a Stock Option may, if
otherwise eligible, be granted additional Stock Options if the Stock Option
Committee shall so determine. The Stock Option Committee shall designate in
each grant of a Stock Option whether the Stock Option is an Incentive Stock
Option or a Non-Qualified Stock Option.

                  (b)      DATE OF GRANT AND RIGHTS OF OPTIONEE. The
determination of the Stock Option Committee to grant a Stock Option shall not
in any way constitute or be deemed to constitute an

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obligation of the Company, or a right of the Eligible Participant who is the
proposed subject of the grant, and shall not constitute or be deemed to
constitute the grant of a Stock Option hereunder unless and until both the
Company and the Eligible Participant have executed and delivered to the other
a Stock Option Agreement in the form then required by the Stock Option
Committee as evidencing the grant of the Stock Option, together with such
other instrument or instruments as may be required by the Stock Option
Committee pursuant to this Plan; provided, however, that the Stock Option
Committee may fix the date of grant as any date on or after the date of its
final determination to grant the Stock Option (or if no such date is fixed,
then the date of grant shall be the date on which the determination was
finally made by the Stock Option Committee to grant the Stock Option), and
such date shall be set forth in the Stock Option Agreement. The date of grant
as so determined shall be deemed the date of grant of the Stock Option for
purposes of this Plan.

                  (c)      SHAREHOLDER-EMPLOYEES. A Stock Option granted
hereunder to an Eligible Participant who is also an officer or key employee
of the Company or any Subsidiary, who owns, directly or indirectly, at the
date of the grant of the Stock Option, more than ten percent (10%) of the
total combined voting power of all classes of capital stock of the Company or
a Subsidiary (if permitted in accordance with the provisions of Section 5
herein) shall not qualify as an Incentive Stock Option unless: (i) the
purchase price of the Option Shares subject to said Stock Option is at least
one hundred and ten percent (110%) of the Fair Market Value of the Option
Shares, determined as of the date said Stock Option is granted; and (ii) the
Stock Option by its terms is not exercisable after five (5) years from the
date that it is granted. The attribution rules of Section 424(d) of the Code,
shall apply in the determination of indirect ownership of stock.

                  (d)      MAXIMUM VALUE OF STOCK OPTIONS. No grant of
Incentive Stock Options hereunder may be made when the aggregate Fair Market
Value of Option Shares with respect to which Incentive Stock Options
(pursuant to this Plan or any other Incentive Stock Option Plan of the
Company or any Subsidiary) are exercisable for the first time by the Eligible
Participant during any calendar year exceeds $100,000.

                  (e)      SUBSTITUTED STOCK OPTIONS. If all of the
outstanding shares of common stock of another corporation are changed into or
exchanged solely for Common Stock in a transaction to which Section 424(a) of
the Code, applies, then, subject to the approval of the Board of Directors of
the Company, Stock Options under the Plan may be substituted ("Substituted
Options") in exchange for valid, unexercised and unexpired stock options of
such other corporation. Substituted Options shall qualify as Incentive Stock
Options under the Plan, provided that (and to the extent) the stock options
exchanged for the Substituted Options were Incentive Stock Options within the
meaning of Section 422 of the Code.

                  (f)      NON-QUALIFIED STOCK OPTIONS. Stock Options and
Substituted Options granted by the Stock Option Committee shall be deemed
Non-Qualified Stock Options under this Plan if they: (i) are designated at
the time of grant as Incentive Stock Options but do not so qualify under the
provisions of Section 422 of the Code or any regulations or rulings issued by
the Internal Revenue Service for any reason; (ii) are not granted in
accordance with the provisions of Section 6(c); (iii) are in excess of the
fair market value limitations set forth in Section 6(d); (iv) are

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granted to an Eligible Participant who is not an officer or key employee of
the Company or any Subsidiary; or (v) are designated at the time of grant as
Non-Qualified Stock Options. Non-Qualified Stock Options granted or
substituted hereunder shall be so designated in the Stock Option Agreement
entered into between the Company and the Optionee.

         7.       STOCK OPTION EXERCISE PRICE

                  (a)      MINIMUM PRICE. The exercise price of any Option
Shares shall be determined by the Stock Option Committee, in-its sole and
absolute discretion, upon the grant of a Stock Option. Except as provided
elsewhere herein, said exercise price shall not be less than one hundred
percent (100%) of the Fair Market Value of the Common Stock represented by
the Option Shares on the date of grant of the related Stock Option.

                  (b)      SUBSTITUTED OPTIONS. The exercise price of the
Option Shares subject to each Substituted Option may be fixed at a price less
than one hundred percent (100%) of the Fair Market Value of the Common Stock
at the time such Substituted Option is granted if said exercise price has
been computed to be not less than the exercise price set forth in the stock
option of the other corporation for which it was exchanged immediately before
substitution, with appropriate adjustment to reflect the exchange ratio of
the shares of stock of the other corporation into the shares of Common Stock.

         8.       EXERCISE OF STOCK OPTIONS

                  (a)      EXERCISE. Except as otherwise provided elsewhere
herein, each Stock Option shall be exercisable in such increments, which need
not be equal, and upon such contingencies as the Stock Option Committee shall
determine at the time of grant of the Stock Option; provided, however, that
if an Optionee shall not in any given period exercise any part of a Stock
Option which has become exercisable during that period, the Optionee's right
to exercise such part of the Stock Option shall continue until expiration of
the Stock Option or any part thereof as may be provided in the related Stock
Option Agreement. No Stock Option or part thereof shall be exercisable except
with respect to whole shares of Common Stock, and fractional share interests
shall be disregarded except that they may be accumulated.

                  (b)      PRIOR OUTSTANDING INCENTIVE STOCK OPTIONS.
Incentive Stock Options granted (or substituted) to an Optionee under the
Plan may be exercisable while such Optionee has outstanding and unexercised
any Incentive Stock Option previously granted (or substituted) to him or her
pursuant to this Plan or any other Incentive Stock Option Plan of the Company
or any Subsidiary. An Incentive Stock Option shall be treated as outstanding
until it is exercised in full or expires by reason of lapse of time.

                  (c)      NOTICE AND PAYMENT. Stock Options granted
hereunder shall be exercised by written notice delivered to the Company
specifying the number of Option Shares with respect to which the Stock Option
is being exercised, together with concurrent payment in full of the exercise
price as hereinafter provided. If the Stock Option is being exercised by any
person or persons other

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than the Optionee, said notice shall be accompanied by proof, satisfactory to
the counsel for the Company, of the right of such person or persons to
exercise the Stock Option. The Company's receipt of a notice of exercise
without concurrent receipt of the full amount of the exercise price shall not
be deemed an exercise of a Stock Option by an Optionee, and the Company shall
have no obligation to an Optionee for any Option Shares unless and until full
payment of the exercise price is received at the Company and all of the terms
and provisions of the Plan and the related Stock Option agreement have been
fully complied with.

                  (d)      PAYMENT OF EXERCISE PRICE. The exercise price of
any Option Shares purchased upon the proper exercise of a Stock Option shall
be paid in full at the time of each exercise of a Stock Option in cash (or
bank, cashier's or certified check) and/or, with the prior written approval
of the Stock Option Committee at or before the time of exercise, in Common
Stock of the Company which, when added to the cash payment, if any, which has
an aggregate Fair Market Value equal to the full amount of the exercise price
of the Stock Option, or part thereof, then being exercised. Payment by an
Optionee as provided herein shall be made in full concurrently with the
Optionee's notification to the Company of his intention to exercise all or
part of a Stock Option. If all or any part of a payment is made in shares of
Common Stock as heretofore provided, such payment shall be deemed to have
been made only upon receipt by the Company of all required share
certificates, and all stock powers and all other required transfer documents
necessary to transfer the shares of Common Stock to the Company.

                  (e)      MINIMUM EXERCISE. Not less than ten (10) Option
Shares may be purchased at any one time upon exercise of a Stock Option
unless the number of shares purchased is the total number which remains to be
purchased under the Stock Option.

                  (f)      COMPLIANCE WITH LAW. No shares of Common Stock
shall be issued upon exercise of any Stock Option, and an Optionee shall have
no right or claim to such shares, unless and until: (i) payment in full as
provided hereinabove has been received by the Company; (ii) in the opinion of
the counsel for the Company, all applicable requirements of law and of
regulatory bodies having jurisdiction over such issuance and delivery have
been fully complied with; and (iii) if required by federal or state law or
regulation, the Optionee shall have paid to the Company the amount, if any,
required to be withheld on the amount deemed to be compensation to the
Optionee as a result of the exercise of his or her Stock Option, or made.
Other arrangements satisfactory to the Company, in its sole discretion, to
satisfy applicable income tax withholding requirements.

                  (g)      REORGANIZATION. Notwithstanding any provision in
any Stock Option Agreement pertaining to the time of exercise of a Stock
Option, or part thereof, upon adoption by the requisite holders of the
outstanding shares of Common Stock of any plan of dissolution, liquidation,
reorganization, merger, consolidation or sale of all or substantially all of
the assets of the Company to another corporation which would, upon
consummation, result in termination of a Stock Option in accordance with
Section 16 hereof, all Stock Options previously granted shall become
immediately exercisable, whether or not vested under the Plan or Stock Option
Agreement, as to all unexercised Option Shares for such period of time as may
be determined by the Stock Option Committee, but in any event not less than
30 days, on the condition that the terminating event

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described in Section 16 hereof is consummated. If such terminating event is
not consummated or if the surviving entity (successor entity) assumes such
obligation or gives appropriate substitution thereof, Stock Options granted
pursuant to the Plan shall be exercisable in accordance with the terms of
their respective Stock Option Agreements.

         9.       NONTRANSFERABILITY OF STOCK OPTIONS

                  Each Stock Option shall, by its terms, be nontransferable
by the Optionee other than by will or the laws of descent and distribution,
and shall be exercisable during the Optionee's lifetime only by the Optionee.

         10.      CONTINUATION OF AFFILIATION

                  Nothing contained in this Plan (or in any Stock Option
Agreement) shall obligate the Company or any Subsidiary to employ or continue
to employ or remain affiliated with any Optionee or any Eligible Participant
for any period of time or interfere in any way with the right of the Company
or a Subsidiary to reduce or increase the Optionee's or Eligible
Participant's compensation.

         11.      CESSATION OF AFFILIATION

                  Except as provided in Section 12 hereof, if, for any reason
other than disability or death, an Optionee ceases to be employed by or
affiliated with the Company or a Subsidiary, the Stock Options granted to
such Optionee shall expire on the expiration dates specified for said Stock
Options at the time of their grant, or ninety (90) days after the Optionee
ceases to be so employed or affiliated, whichever is earlier. During such
period after cessation of employment or affiliation, such Stock Options shall
be exercisable only as to those increments, if any, which had become
exercisable as of the date on which such Optionee ceased to be employed by or
affiliated with the Company or the Subsidiary, and any Stock Options or
increments which had not become exercisable as of such date shall expire
automatically on such date.

         12.      TERMINATION FOR CAUSE

                  If the Stock Option Agreement so provides and if an
Optionee's employment by or affiliation with the Company or a Subsidiary is
terminated for cause, the Stock Options granted to such Optionee shall
automatically expire and terminate in their entirety immediately upon such
termination; provided, however, that the Stock Option Committee may, in its
sole discretion, within thirty (30) days of such termination, reinstate such
Stock Options by giving written notice of such reinstatement to the Optionee.
In the event of such reinstatement, the Optionee may exercise the Stock
Options only to such extent, for such time, and upon such terms and
conditions as if the Optionee had ceased to be employed by or affiliated with
the Company or a Subsidiary upon the date of such termination for a reason
other than cause, disability or death. Termination for cause shall include,
but shall not be limited to, termination for malfeasance or gross misfeasance
in the

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performance of duties or conviction of illegal activity in connection
therewith and, in any event, the determination of the Stock Option Committee
with respect thereto shall be final and conclusive.

         13.      DEATH OF OPTIONEE

                  If an Optionee dies while employed by or affiliated with
the Company or a Subsidiary, or during the ninety-day period referred to in
Section 11 hereof, the Stock Options granted to such Optionee shall expire on
the expiration dates specified for said Stock Options at the time of their
grant, or one (1) year after the date of such death, whichever is earlier.
After such death, but before such expiration, subject to the terms and
provisions of the Plan and the related Stock Option Agreements, the person or
persons to whom such Optionee's rights under the Stock Options shall have
passed by will or by the applicable laws of descent and distribution, or the
executor or administrator of the Optionee's estate, shall have the right to
exercise such Stock Options to the extent that increments, if any, had become
exercisable as of the date on which the Optionee died.

         14.      DISABILITY OF OPTIONEE

                  If an Optionee is disabled while employed by or affiliated
with the Company or a Subsidiary or during the three-month period referred to
in Section 11 hereof, the Stock Options granted to such Optionee shall expire
on the expiration dates specified for said Stock Options at the time of their
grant, or one (1) year after the date such disability occurred, whichever is
earlier. After such disability occurs, but before such expiration, the
Optionee or the guardian or conservator of the Optionee's estate, as duly
appointed by a court of competent jurisdiction, shall have the right to
exercise such Stock Options to the extent that increments, if any, had become
exercisable as of the date on which the Optionee became disabled or ceased to
be employed by or affiliated with the Company or a Subsidiary as a result of
the disability. An Optionee shall be deemed to be "disabled" if it shall
appear to the Stock Option Committee, upon written certification delivered to
the Company of a qualified licensed physician, that the Optionee has become
permanently and totally unable to engage in any substantial gainful activity
by reason of a medically determinable physical or mental impairment which can
be expected to result in the Optionee's death, or which has lasted or can be
expected to last for a continuous period of not less than 12 months.

         15.      ADJUSTMENT UPON CHANGES IN CAPITALIZATION

                  If the outstanding shares of Common Stock of the Company
are increased, decreased, or changed into or exchanged for a different number
or kind of shares or securities of the Company, through a reorganization,
merger, recapitalization, reclassification, stock split, stock dividend,
stock consolidation, or otherwise, without consideration to the Company, an
appropriate and proportionate adjustment shall be made in the number and kind
of shares as to which Stock Options may be granted. A corresponding
adjustment changing the number or kind of Option Shares and the exercise
prices per share allocated to unexercised Stock Options, or portions thereof,
which shall have been granted prior to any such change, shall likewise be
made. Such adjustments shall be made without change in the total price
applicable to the unexercised portion of the Stock Option, but with

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a corresponding adjustment in the price for each Option Share subject to the
Stock Option. Adjustments under this Section shall be made by the Stock
Option Committee, whose determination as to what adjustments shall be made,
and the extent thereof, shall be final and conclusive. No fractional shares
of stock shall be issued or made available under the Plan on account of such
adjustments, and fractional share interests shall be disregarded, except that
they may be accumulated.

         16.      TERMINATING EVENTS

                  Upon consummation of a plan of dissolution or liquidation
of the Company, or upon consummation of a plan of reorganization, merger or
consolidation of the Company with one or more corporations, as a result of
which the Company is not the surviving entity, or upon the sale of all or
substantially all the assets of the Company to another corporation, the Plan
shall automatically terminate and all Stock Options theretofore granted shall
be terminated (subject to 8(g)), unless provision is made in connection with
such transaction for assumption of Stock Options theretofore granted (in
which case such Stock Options shall be converted into Stock Options for a
like number and kind for shares of the surviving entity), or substitution for
such Stock Options with new stock options covering stock of a successor
employer corporation, or a parent or subsidiary corporation thereof, solely
at the discretion of such successor corporation, or parent or subsidiary
corporation, with appropriate adjustments as to number and kind of shares and
prices.

         17.      AMENDMENT AND TERMINATION

                  The Board of Directors of the Company may at any time and
from time to time suspend, amend, or terminate the Plan and may, with the
consent of an Optionee, make such modifications of the terms and conditions
of that Optionee's Stock Option as it shall deem advisable; provided that,
except as permitted under the provisions of Section 15 hereof, no amendment
or modification may be adopted without the Company having first obtained the
approval of the holders of a majority of the Company's outstanding shares of
Common Stock present, or represented, and entitled to vote at a duly held
meeting of shareholders of the Company, or by written consent, if the
amendment or modification would:

                  (a)      materially increase the number of securities which
may be issued under the Plan;

                  (b)      materially increase the number of securities which
may be issued at any time under the Plan to all directors who are not also
officers or key employees of the Company or any Subsidiary;

                  (c)      materially modify the requirements as to
eligibility for participation in the Plan;

                  (d)      increase or decrease the exercise price of any
Stock Option granted under the Plan;

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                  (e)      increase the maximum term of Stock Options
provided for herein;

                  (f)      permit Stock Options to be granted to any person
who is not an Eligible Participant; or

                  (g)      change any provision of the Plan which would
affect the qualification as an Incentive Stock Option under the Code then
applicable of any Stock Option granted as an Incentive Stock Option under the
Plan.

                  No Stock Option may be granted during any suspension of the
Plan or after termination of the Plan. Amendment suspension, or termination
of the Plan shall not (except as otherwise provided in Section 15 hereof),
without the consent of the Optionee, alter or impair any rights or
obligations under any Stock Option theretofore granted.

         18.      RIGHTS OF ELIGIBLE PARTICIPANTS AND OPTIONEES

                  No Eligible Participant, Optionee or other person shall
have any claim or right to be granted a Stock Option under this Plan, and
neither this Plan nor any action taken hereunder shall be deemed to give or
be construed as giving any Eligible Participant, Optionee or other person any
right to be retained in the employ of the Company or any Subsidiary. Without
limiting the generality of the foregoing, no person shall have any rights as
a result of his or her classification as an Eligible Participant or Optionee,
such classifications being made solely to describe, define and limit those
persons who are eligible for consideration for privileges under the Plan.

         19.      PRIVILEGES OF STOCK OWNERSHIP; REGULATORY LAW COMPLIANCE;
NOTICE OF SALE

                  No Optionee shall be entitled to the privileges of stock
ownership as to any Option Shares not actually issued and delivered. No
Option Shares may be purchased upon the exercise of a Stock Option unless and
until all then applicable requirements of all regulatory agencies having
jurisdiction and all applicable requirements of the securities exchanges upon
which securities of the Company are listed (if any) shall have been fully
complied with. The Optionee shall, not more than five (5) days after each
sale or other disposition of shares of Common Stock acquired pursuant to the
exercise of Stock Options, give the Company notice in writing of such sale or
other disposition.

         20.      EFFECTIVE DATE OF THE PLAN

                  The Plan shall be deemed adopted as of ________, 2000, and
shall be effective immediately, subject to approval of the Plan by the
holders of at least a majority of the Company's outstanding shares of Common
Stock.

                                       11
<PAGE>

         21.      TERMINATION

                  Unless previously terminated as aforesaid, the Plan shall
terminate on February 26, 2010. No Stock Options shall be granted under the
Plan thereafter, but such termination shall not affect any Stock Option
theretofore granted.

         22.      OPTION AGREEMENT

                  Each Stock Option granted under the Plan shall be evidenced
by a written Stock Option Agreement executed by the Company and the Optionee,
and shall contain each of the provisions and agreements herein specifically
required to be contained therein, and such other terms and conditions as are
deemed desirable by the Stock Option Committee and are not inconsistent with
this Plan.

         23.      STOCK OPTION PERIOD

                  Each Stock Option and all rights and obligations thereunder
shall expire on such date as the Stock Option Committee may determine, but
not later than ten (10) years from the date such Stock Option is granted, and
shall be subject to earlier termination as provided elsewhere in this Plan.

         24.      EXCULPATION AND INDEMNIFICATION OF STOCK OPTION COMMITTEE

                  The present, former and future members of the Stock Option
Committee, and each of them, who is or was a director, officer or employee of
the Company shall be indemnified by the Company to the extent authorized in
and permitted by the Company's Certificate of Incorporation, and/or Bylaws in
connection with all actions, suits and proceedings to which they or any of
them may be a party by reason of any act or omission of any member of the
Stock Option Committee under or in connection with the Plan or any Stock
Option granted thereunder.

         25.      NOTICES

                  All notices and demands of any kind which the Stock Option
Committee, any Optionee, Eligible Participant, or other person may be
required or desires to give under the terms of this Plan shall be in writing
and shall be delivered in hand to the person or persons to whom addressed (in
the case of the Stock Option Committee, with the Chief Executive Officer or
Secretary of the Company), by leaving a copy of such notice or demand at the
address of such person or persons as may be reflected in the records of the
Company, or by mailing a copy thereof, properly addressed as above, by
certified or registered mail, postage prepaid, with return receipt requested.
Delivery by mail shall be deemed made upon receipt by the notifying party of
the return receipt request acknowledging receipt of the notice or demand.

                                       12
<PAGE>

         26.      LIMITATION ON OBLIGATIONS OF THE COMPANY

                  All obligations of the Company arising under or as a result
of this Plan or Stock Options granted hereunder shall constitute the general
unsecured obligations of the Company, and not of the Board of Directors of
the Company, any member thereof, the Stock Option Committee, any member
thereof, any officer of the Company, or any other person or any Subsidiary,
and none of the foregoing, except the Company, shall be liable for any debt,
obligation, cost or expense hereunder.

         27.      LIMITATION OF RIGHTS

                  The Stock Option Committee, in its sole and absolute
discretion, is entitled to determine who, if anyone, is an Eligible
Participant under this Plan, and which, if any, Eligible Participant shall
receive any grant of a Stock Option. No oral or written agreement by any
person on behalf of the Company relating to this Plan or any Stock Option
granted hereunder is authorized, and such may not bind the Company or the
Stock Option Committee to grant any Stock Option to any person.

         28.      SEVERABILITY

                  It is the desire and intent of the parties hereto that the
provisions of this Plan be enforced to the fullest extent permissible under
the laws and public policies applied in each jurisdiction in which
enforcement is sought. Accordingly, if any particular provision of this Plan
shall be adjudicated by a court of competent jurisdiction to be invalid,
prohibited or unenforceable for any reason, such provision, as to such
jurisdiction, shall be ineffective, without invalidating the remaining
provisions of this Plan or affecting the validity or enforceability of such
provision in any other jurisdiction. Notwithstanding the foregoing, if such
provision could be more narrowly drawn so as not to be invalid, prohibited or
unenforceable in such jurisdiction, it shall, as to such jurisdiction, be so
narrowly drawn, without invalidating the remaining provisions of this Plan or
affecting the validity or enforceability of such provision in any other
jurisdiction.

         29.      CONSTRUCTION

                  Where the context or construction requires, all words
applied in the plural herein shall be deemed to have been used in the
singular and vice versa, and the masculine gender shall include the feminine
and the neuter and vice versa.

         30.      HEADINGS

                  The headings of the several sections herein are inserted
solely for convenience of reference and are not intended to form a part of
and are not intended to govern, limit or aid in the construction of any term
or provision hereof.

                                       13
<PAGE>

         31.      SUCCESSORS

                  This Plan shall be binding upon the respective successors,
assigns, heirs, executors, administrators, guardians and personal
representatives of the Company and Optionees.

         32.      CONFLICT

                  In the event of any conflict between the terms and
provisions of this Plan, and any other document, agreement or instrument,
including, without meaning any limitation, any Stock Option Agreement, the
terms and provisions of this Plan shall control.

         33.      GOVERNING LAW

                  THIS PLAN WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT GIVING EFFECT TO ANY CHOICE
OF LAW OR CONFLICTING PROVISION OR RULE (WHETHER OF THE STATE OF DELAWARE OR
ANY OTHER JURISDICTION) THAT WOULD CAUSE THE LAWS OF ANY JURISDICTION OTHER
THAN THE STATE OF DELAWARE TO BE APPLIED. IN FURTHERANCE OF THE FOREGOING,
THE INTERNAL LAW OF THE STATE OF DELAWARE WILL CONTROL THE INTERPRETATION AND
CONSTRUCTION OF THIS PLAN, EVEN IF UNDER SUCH JURISDICTION'S CHOICE OF LAW OR
CONFLICT OF LAW ANALYSIS, THE SUBSTANTIVE LAW OF SOME OTHER JURISDICTION
WOULD ORDINARILY APPLY.

                                * * * * * * * * *

                                       14
<PAGE>

OPTIONEES TO WHOM INCENTIVE STOCK OPTIONS ARE GRANTED MUST MEET CERTAIN
HOLDING PERIOD AND EMPLOYMENT REQUIREMENTS FOR FAVORABLE TAX TREATMENT.

UNLESS OTHERWISE STATED, ALL TERMS DEFINED IN THE PLAN SHALL HAVE THE SAME
MEANING HEREIN AS SET FORTH IN THE PLAN.

                           Hanmi Financial Corporation

                             STOCK OPTION AGREEMENT

                           YEAR 2000 STOCK OPTION PLAN

                           [ ] Incentive Stock Option

                         [ ] Non-Qualified Stock Option

         THIS AGREEMENT, dated the ______ day of __________, 200_, by and
between Hanmi Financial Corporation, a Delaware corporation (the "Company"), and
_________________________ ("Optionee");

                  WHEREAS, pursuant to the Company's Year 2000 Stock Option
Plan (the "Plan"), the Stock Option Committee has authorized the grant to
Optionee of a Stock Option to purchase all or any part of
__________________________________________________ (__________) authorized
but unissued shares of the Company's Common Stock at the price of
_________________________ Dollars ($__________) per share, such Stock Option
to be for the term and upon the terms and conditions hereinafter stated;

                  NOW, THEREFORE, it is hereby agreed:

                  1.       GRANT OF STOCK OPTION. Pursuant to said action of
the Stock Option Committee and pursuant to authorizations granted by all
appropriate regulatory and governmental agencies, the Company hereby grants
to Optionee the option to purchase, upon and subject to the terms and
conditions of the Plan, which is incorporated in full herein by this
reference, all or any part

                                       1
<PAGE>

of _________________________ (__________) Option Shares of the Company's
Common Stock at the price of _________________________ Dollars ($ __________)
per share. For purposes of this Agreement and the Plan, the date of grant
shall be __________, ____. At the date of grant, Optionee DOES NOT OWN/OWNS
stock possessing more than 10% of the total combined voting power of all
classes of capital stock of the Bank or any Subsidiary.

                  The Stock Option granted hereunder is/is not intended to
qualify as an Incentive Stock Option within the meaning of Section 422 of the
Internal Revenue Code of 1986, as amended.

                  2.       EXERCISABILITY. This Stock Option shall be
exercisable as to __________ Option Shares on __________, _____; as to
__________ Option Shares on __________, _____; as to __________ Option Shares
on __________, _____; as to __________ Option Shares on __________, _____;
and as to __________ Option Shares on __________, _____. This Stock Option
shall remain exercisable as to all of such Option Shares until __________,
20__ (but not later than ten (10) years from the date hereof), at which time
it shall expire in its entirety, unless this Stock Option has expired or
terminated earlier in accordance with the provisions hereof or of the Plan.
Option Shares as to which this Stock Option become exercisable may be
purchased at any time prior to expiration of this Stock Option.

                  3.       EXERCISE OF STOCK OPTION. This Stock Option may be
exercised by written notice delivered to the Company stating the number of
Option Shares with respect to which this Stock Option is being exercised,
together with cash (or bank, cashier's or certified check) and/or, if
permitted at or before the time of exercise by the Stock Option Committee,
shares of Common Stock of the Company which when added to the cash payment,
if any, have an aggregate Fair Market Value equal to the full amount of the
purchase price of such Option Shares. Not less than ten (10) Option Shares
may be purchased at any one time unless the number purchased is the total
number

                                       2
<PAGE>

which remains to be purchased under this Stock Option and in no event may the
Stock Option be exercised with respect to fractional shares. Upon exercise,
Optionee shall make appropriate arrangements and shall be responsible for the
withholding of all federal and state income taxes then due, if any.

                  4.       PRIOR OUTSTANDING STOCK OPTIONS. Pursuant to
Section 8(b) of the Plan, an Incentive Stock Option held by Optionee may be
exercisable while the Optionee has outstanding and unexercised any Incentive
Stock Option previously granted to him or her by the Company, or a bank or
corporation which (at the time of grant) is a parent or Subsidiary of the
Company, or a predecessor corporation of any such entity.

                  5.       CESSATION OF AFFILIATION. Except as provided in
Paragraph 6 hereof, if, for any reason other than Optionee's disability or
death, Optionee ceases to be employed by or affiliated with the Company or a
Subsidiary, this Stock Option shall expire ninety (90) days thereafter or on
the date specified in Paragraph 2 hereof, whichever is earlier. During such
period after cessation of employment or affiliation, this Stock Option shall
be exercisable only as to those increments, if any, which had become
exercisable as of the date on which the Optionee ceased to be employed by or
affiliated with the Company or Subsidiary, and any Stock Options or
increments which had not become exercisable as of such date shall expire and
terminate automatically on such date.

                  6.       TERMINATION FOR CAUSE. If Optionee's employment by
or affiliation with the Company or a Subsidiary is terminated for cause, this
Stock Option shall automatically expire unless reinstated by the Stock Option
Committee within thirty (30) days of such termination by giving written
notice of such reinstatement to Optionee. In the event of such reinstatement,
Optionee may exercise this Stock Option only to such extent, for such time,
and upon such terms and conditions as if Optionee had ceased to be employed
by or affiliated with the Company or a Subsidiary upon

                                       3
<PAGE>

the date of such termination for a reason other than cause, disability or
death. Termination for cause shall include, but shall not be limited to,
termination for malfeasance or gross misfeasance in the performance of duties
or conviction of illegal activity in connection therewith, or any conduct
detrimental to the interests of the Company or a Subsidiary, and, in any
event the determination of the Stock Option Committee with respect thereto
shall be final and conclusive.

                  7.       DISABILITY OR DEATH OF OPTIONEE. If Optionee
becomes disabled or dies while employed by or affiliated with the Company or
a Subsidiary, or during the ninety-day period referred to in Paragraph 5
hereof, this Stock Option shall automatically expire and terminate one (1)
year after the date of Optionee's disability or death or on the day specified
in Paragraph 2 hereof, whichever is earlier. After Optionee's disability or
death but before such expiration, the person or persons to whom Optionee's
rights under this Stock Option shall have passed by order of a court of
competent jurisdiction or by will or the applicable laws of descent and
distribution, or the executor, administrator or conservator of Optionee's
estate, subject to the provisions of Paragraph 13 hereof, shall have the
right to exercise this Stock Option to the extent that increments, if any,
had become exercisable as of the date on which Optionee ceased to be employed
by or affiliated with the Company or a Subsidiary. For purposes hereof,
disability" shall have the same meaning as set forth in Section 14 of the
Plan.

                  8.       NONTRANSFERABILITY. This Stock Option shall not be
transferable except by will or by the laws of descent and distribution, and
shall be exercisable during Optionee's lifetime only by Optionee.

                  9.       EMPLOYMENT. This Agreement shall not obligate the
Company or a Subsidiary to employ Optionee for any periods nor shall it
interfere in any way with the right of the Company or a Subsidiary to
increase or reduce Optionee's compensation.

                                       4
<PAGE>

                  10.      PRIVILEGES OF STOCK OWNERSHIP. Optionee shall have
no rights as a stockholder with respect to the Option Shares unless and until
said Option Shares are issued to Optionee as provided in the Plan. Except as
provided in Section 15 of the Plan, no adjustment will be made for dividends
or other rights in respect of which the record date is prior to the date such
stock certificates are issued.

                  11.      MODIFICATION AND TERMINATION BY BOARD OF
DIRECTORS. The rights of Optionee are subject to modification and termination
upon the occurrence of certain events as provided in the Plan. Upon adoption
by the requisite holders of the Company's outstanding shares of Common Stock
of any plan of dissolution, liquidation, reorganization, merger,
consolidation or sale of all or substantially all of the assets of the
Company to another corporation which would, upon consummation, result in
termination of this Stock Option in accordance with Section 16 of the Plan,
this Stock Option shall become immediately exercisable as to all unexercised
Option Shares notwithstanding the incremental exercise provisions of
Paragraph 2 of this Agreement, for a period then specified by the Stock
Option Committee, but in any event not less than thirty (30) days, in
accordance with Section 8(g) of the Plan, on the condition that the
terminating event described in Section 16 of the Plan is consummated. If such
terminating event is not consummated, this Stock option shall be exercisable
in accordance with the terms of the Agreement, excepting this Paragraph 11.

                  12.      NOTIFICATION OF SALE. Optionee agrees that
Optionee, will notify the Company in writing not more than five (5) days
after any sale or other disposition of Option Shares.

                  13.      APPROVALS. This Agreement and the issuance of
Option Shares hereunder are expressly subject to the approval of the Plan and
the form of this Agreement by the holders of not less than a majority of the
voting stock of the Company. This Stock Option may not be exercised

                                       5
<PAGE>

unless and until all applicable requirements of all regulatory agencies
having jurisdiction with respect thereto, and of the securities exchanges
upon which securities of the Company are listed, if any, have been complied
with.

                  14.      NOTICES. All notices to the Company provided for
in this Agreement shall be addressed to it in care of its Chief Executive
Officer or Secretary at its main office and all notices to Optionee shall be
addressed to Optionee's address on file with the Company or a Subsidiary, or
to such other address as either may designate to the other in writing, all in
compliance with the notice provisions set forth in Section 25 of the Plan.

                  15.      INCORPORATION OF PLAN. All of the provisions of
the Plan are incorporated herein by reference as if set forth in full in this
Agreement. In the event of any conflict between the terms of the Plan and any
provision contained herein, the terms of the Plan shall be controlling and
the conflicting provisions contained herein shall be disregarded.

         SECTION 16. GOVERNING LAW. THIS AGREEMENT WILL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT
GIVING EFFECT TO ANY CHOICE OF LAW OR CONFLICTING PROVISION OR RULE (WHETHER
OF THE STATE OF DELAWARE OR ANY OTHER JURISDICTION) THAT WOULD CAUSE THE LAWS
OF ANY JURISDICTION OTHER THAN THE STATE OF DELAWARE TO BE APPLIED. IN
FURTHERANCE OF THE FOREGOING, THE INTERNAL LAW OF THE STATE OF DELAWARE WILL
CONTROL THE INTERPRETATION AND CONSTRUCTION OF THIS AGREEMENT, EVEN IF UNDER
SUCH JURISDICTION'S CHOICE OF LAW OR CONFLICT OF LAW ANALYSIS, THE
SUBSTANTIVE LAW OF SOME OTHER JURISDICTION WOULD ORDINARILY APPLY.

                                       6
<PAGE>

         SECTION  17. RESOLUTION OF DISPUTES

                  a.       ARBITRATION. Any dispute, controversy or claim
arising out of or relating to this Agreement or the Plan shall be settled by
binding arbitration held in Los Angeles, California, in accordance with the
Commercial Arbitration Rules of the American Arbitration Association then in
effect, except as specifically otherwise provided in this Section 17. This
Section 17 shall be construed and enforced in accordance with the Federal
Arbitration Act, notwithstanding any other choice of law provision in this
Agreement. Notwithstanding the foregoing:

                  Any party hereto may, in its discretion, apply to a court
of competent jurisdiction for equitable relief. Such an application shall not
be deemed a waiver of the right to compel arbitration pursuant to this
Section.

                  b.       ARBITRATORS. The panel to be appointed shall
consist of three neutral arbitrators: one selected by the Company, one
selected by the Optionee, and one selected by the designees of the Company
and Optionee.

                  c.       PROCEDURES. The arbitrator(s) shall allow such
discovery as the arbitrator(s) determine appropriate under the circumstances
and shall resolve the dispute as expeditiously as practicable, and if
reasonably practicable, within one hundred twenty (120) days after the
selection of the arbitrator(s). The arbitrator(s) shall give the parties
written notice of the decision, with the reasons therefor set out, and shall
have thirty (30) days thereafter to reconsider and modify such decision if
any party so requests within ten (10) days after the decision.

                  d.       AUTHORITY. The arbitrator(s) shall have authority
to award relief under legal or equitable principles, including interim or
preliminary relief, and to allocate responsibility for the costs of the
arbitration and to award recovery of attorneys fees and expenses in such
manner as is determined to be appropriate by the arbitrator(s).

                                       7
<PAGE>

                  e.       ENTRY OF JUDGMENT. Judgment upon the award
rendered by the arbitrator(s) may be entered in any court having in personam
and subject matter jurisdiction. Company and Optionee hereby submit to the in
personam jurisdiction of the Federal and State courts in Los Angeles,
California, for the purpose of confirming any such award and entering
judgment thereon.

                  f.       CONFIDENTIALITY. All proceedings under this
Section 17, and all evidence given or discovered pursuant hereto, shall be
maintained in confidence by all parties and by the arbitrators.

                  g.       CONTINUED PERFORMANCE. The fact that the dispute
resolution procedures specified in this Section 17 shall have been or may be
invoked shall not excuse any party from performing its obligations under this
Agreement and during the pendency of any such procedure all parties shall
continue to perform their respective obligations in good faith.

         SECTION 18. NO EMPLOYMENT COMMITMENT BY COMPANY. Nothing in this
Agreement constitutes an employment commitment by the Company, affects the
Optionee's status as an employee-at-will who is subject to termination
without cause, confers upon the Optionee any right to remain employed by the
Company or any subsidiary, interferes in any way with the right of the
Company or any subsidiary at any time to terminate such employment, or
affects the right of the Company or any subsidiary to increase or decrease
the Optionee's compensation or other benefits. The preceding sentence is
subject, however, to the terms of any written employment agreement between
the Optionee and the Company (which may not be modified by any oral
agreement).

         SECTION 19. COUNTERPARTS. This Agreement may be executed in one or
more counterparts, and each such counterpart shall be deemed to be an
original, but all such counterparts together shall constitute but one
agreement.

         SECTION 20. ENTIRE AGREEMENT. This Agreement, and the Plan (and the
other writings referred to herein) constitute the entire agreement between
the parties with respect to the subject

                                       8
<PAGE>

matter hereof and thereof and supersede all prior written or oral
negotiations, commitments, representations and agreements with respect
thereto.

         SECTION 21. SEVERABILITY. It is the desire and intent of the parties
hereto that the provisions of this Agreement be enforced to the fullest
extent permissible under the laws and public policies applied in each
jurisdiction in which enforcement is sought. Accordingly, if any particular
provision of this Agreement shall be adjudicated by a court of competent
jurisdiction to be invalid, prohibited or unenforceable for any reason, such
provision, as to such jurisdiction, shall be ineffective, without
invalidating the remaining provisions of this Agreement or affecting the
validity or enforceability of such provision in any other jurisdiction.
Notwithstanding the foregoing, if such provision could be more narrowly drawn
so as not to be invalid, prohibited or unenforceable in such

                                       9
<PAGE>

jurisdiction, it shall, as to such jurisdiction, be so narrowly drawn,
without invalidating the remaining provisions of this Agreement or affecting
the validity or enforceability of such provision in any other jurisdiction.

                  IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the date first above written.

                                            Hanmi Financial Corporation

                                            By
                                              -------------------------
                                            By
                                              -------------------------
                                            OPTIONEE

                                            ---------------------------

ACKNOWLEDGMENT:

                  I hereby acknowledge receipt of a copy of this Agreement as
well as a copy of the Stock Option Plan.

                                             OPTIONEE

                                             --------------------------

                                       10