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                                                                    EXHIBIT 10.1

                              EMPLOYMENT AGREEMENT


THIS EMPLOYMENT AGREEMENT ("Agreement") is entered into as of May 1 , 2002 by
and between Hanmi Bank, a California banking corporation, located at 3660
Wilshire Blvd., PH-A, Los Angeles, CA 90010 ("Bank") and Hanmi Financial
Corporation, a Delaware corporation ("Hanmi Financial"), on the one hand, and
Chung Hoon Youk, an individual ("Employee"), on the other hand.

                                   WITNESSETH:

WHEREAS, Employee presently serves as the President and Chief Executive Officer
of both the Bank and Financial Corporation;

WHEREAS, the Bank and Hanmi Financial Corporation desire to continue to retain
the services of Employee as President and Chief Executive Officer and Employee
desires to continue to render services to the Bank and to Hanmi Financial as
President and Chief Executive Officer;

WHEREAS, the Bank, Hanmi Financial and Employee desire to set forth in this
Agreement the terms and conditions of Employee's employment as President and
Chief Executive Officer upon expiration of Employee's original Employment
Agreement, which term will expire on October 31, 2002;

WHEREAS, although Employee presently serves as and will continue to serve as the
President and Chief Executive Officer of the Bank and Hanmi Financial, all of
the compensation and employee benefits granted to Employee in this Agreement
shall be the sole responsibility of the Bank, except for the stock option grant
to Employee as outlined in Paragraph 4c, which shall be a grant of Hanmi
Financial Corporation stock;

NOW, THEREFORE, in consideration of the mutual promises and covenants herein
contained, the parties agree as follows:

1.  Term.

    Bank and Hanmi Financial Corporation agree to employ Employee and Employee
    agrees to serve Bank and Hanmi Financial Corporation as President and Chief
    Executive Officer, in accordance with the terms of this Agreement, for a
    term of three (3) years, commencing November 1, 2002 and ending October 31,
    2005, unless this Agreement is earlier terminated in accordance with the
    provisions of Paragraph 6, below.


2.  Services and Exclusivity of Services.

    So long as this Agreement shall continue in effect, Employee shall devote
    his full business time, energy and ability exclusively to the business,
    affairs and interests of Bank and Hanmi Financial Corporation and their
    subsidiaries and matters related thereto, shall use Employee's best efforts
    and abilities to promote the Bank's and Hanmi Financial Corporation's
    interests, and shall perform the services contemplated by this Agreement in
    accordance with policies established by and under the direction of the Board
    of Directors of the Bank and Hanmi Financial ("Board"). Employee agrees to
    faithfully and diligently promote the business, affairs and interests of
    Bank and Hanmi Financial Corporation.

    Without the prior express written authorization of the Board, Employee shall
    not, directly or indirectly, during the term of this Agreement: (a) render
    services to any other person or firm for compensation or (b) engage in any
    activity competitive with or adverse to the Bank's or Hanmi Financial
    Corporation's business, whether alone, as a partner, or as an officer,
    director, employee, consultant or significant investor of or in any other
    entity. (An investment of greater than 1% of the outstanding capital or
    equity securities of an entity shall be deemed significant for these
    purposes.)

3.  Specific Position; Duties and Responsibilities.

    The Bank, Hanmi Financial Corporation and Employee agree that, subject to
    the provisions of this Agreement, the Bank will employ Employee and Employee
    will serve Bank and Hanmi Financial Corporation as the President and Chief
    Executive Officer for the duration of this Agreement. Employee agrees to
    observe and comply with the rules and regulations of Bank and Hanmi
    Financial Corporation respecting the performance of Employee's duties and
    agrees to carry out and perform orders, directions and
    policies of


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    Bank and Hanmi Financial Corporation and its Board as they may be, from time
    to time, stated either orally or in writing. Employee shall have such
    corporate power and authority as shall reasonably be required to enable the
    discharge of duties as President and Chief Executive Officer of Bank and
    Hanmi Financial Corporation.

    For the term of this Agreement, Employee shall report to the Board.

4.  Compensation.

    a)  Base and Incentive Compensation

    During the term of this Agreement, beginning November 1, 2002, Bank (and not
    Hanmi Financial Corporation) agrees to pay Employee a base salary (the "Base
    Salary") at the annual rate of $250,000.00, less withholdings for his
    services as President and Chief Executive Officer of the Bank and Hanmi
    Financial Corporation. If employed in the second and third years under this
    Agreement, Bank (and not Hanmi Financial Corporation) will provide Employee
    with a cost-of-living increase in an amount not to exceed five (5%) percent
    of Employee's previous year's base salary in each of the second and third
    years of employment. Employee shall not be entitled to or receive a
    director's fee for his services on the Board during the term of his
    employment at Bank.

    b)  Bonus

    After commencement of the term of this Agreement on November 1, 2002,
    Employee shall be eligible for a bonus at the end of each fiscal year of
    employment in the amount of four percent (4%) of the amount of Bank's (and
    not Hanmi Financial Corporation's) pre-tax profits which exceed twenty
    percent (20%) of the primary capital of that year. In no event shall
    Employee's bonus exceed seventy-five percent (75%) of Employee's annual Base
    Salary in the year in which he is eligible for a bonus. There shall be no
    other bonuses. If Employee is employed less than a full fiscal year, the
    bonus will be paid to Employee on a pro-rata basis for that portion of the
    fiscal year in which Employee was employed as Chief Executive Officer but
    such bonus shall not be paid out until January of the year following
    Employee's termination. It is the obligation of the Bank, and not Hanmi
    Financial Corporation, to pay any bonus owed to Employee pursuant to this
    Paragraph.

        Pre-Tax Profit Determination

    The computation of Bank's pre-tax profit shall be determined by Bank's
    outside auditors and certified public accountants as approved by the Board.
    The computation of Bank's pre-tax profit shall be conclusive and binding on
    Bank and Employee. In the event of a dispute under this Section, the sole
    determination by the arbitrator shall be whether the pre-tax profit was
    determined in conformity with this paragraph -- i.e., whether the pre-tax
    profit was determined by Bank's outside auditors and certified public
    accountants, and was approved by the Board.

    c)  Stock Options

    Pursuant to and subject to the terms of Financial Corporation's Stock Option
    Plan, for the term of this Agreement, Hanmi Financial Corporation (and not
    the Bank) will grant Employee a stock option consisting of a maximum total
    of forty thousand (40,000) shares of Financial Corporation's common stock at
    the market price at the time of grant. The option will vest as follows over
    the three year term of this Agreement: 13,334 shares on November 1, 2002,
    and 13,333 shares on November 1, 2003 and November 1, 2004 respectively, and
    shall be exercisable at the time of each grant. Any such option will be
    subject to all of the terms and provisions of Hanmi Financial Corporation's
    Stock Option Plan and the form of Stock Option Agreement to be executed by
    Hanmi Financial Corporation and Employee, which Stock Option Plan and Stock
    Option Agreement are incorporated in full into this Agreement. Should
    Employee be terminated without cause, this option shall expire no later than
    thirty (30) days after such termination. Should Employee be terminated for
    cause, this option shall expire immediately. Reference should be made to
    Hanmi Financial Corporation's Stock Option Plan and form of Stock Option
    Agreement for full and complete terms and conditions governing stock option
    to be granted.

5.  Perquisites

    a)  Automobile Allowance and Insurance

    Bank (and not Hanmi Financial Corporation) will provide Employee with a
    suitable automobile for his use in the performance of his duties and shall
    pay all reasonable costs and expenses of maintaining and operating said
    automobile, including automobile


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    liability insurance. Upon the termination of Employee's employment as
    President and Chief Executive Officer of the Bank and Hanmi Financial
    Corporation, Employee shall return the automobile in good working condition,
    less normal wear and tear for reasonable usage of the automobile.

    b)  Vacation

    Employee shall accrue 15 days of paid vacation annually from the Bank (and
    not Hanmi Financial Corporation) in exchange for his services hereunder as
    President and Chief Executive Officer of the Bank and Hanmi Financial
    Corporation. Employee shall take at least two consecutive weeks vacation
    during each year of his employment by the Bank. Employee shall accrue a
    maximum of 22 & 1/2 days of vacation. Once Employee accrues 22 & 1/2 days of
    vacation, Employee shall cease accruing any additional vacation until
    Employee's vacation accrual falls below 22 & 1/2 days.

    c)  Insurance Benefits

    Bank (and not Hanmi Financial Corporation) shall provide Employee and
    Employee's spouse and dependent children, where applicable, at Bank's
    expense, participation in accident and health insurance at no cost to
    Employee, and term life insurance benefits for Employee to the maximum
    benefits available under Bank's Group Insurance program, except that term
    life insurance shall not be in excess of $150,000 for Employee.

    d)  Professional Society Membership

    Bank (and not Hanmi Financial Corporation) agrees to reimburse Employee for
    professional society memberships which are related to and enhance Employee's
    employment hereunder.

    e)  Continuing Education

    Bank (and not Hanmi Financial Corporation) agrees to reimburse Employee for
    continuing education which are related to and enhance Employee's employment
    hereunder.

    f)  Country Club Membership

    Bank (and not Hanmi Financial Corporation) agrees to reimburse Employee for
    reasonable initiation fees and monthly dues related to a country club
    membership during Employee's employment hereunder. The country club must be
    located in Los Angeles County or Orange County.

6.  Termination.

    The compensation and other benefits and perquisites provided to Employee
    pursuant to this Agreement, and the employment of Employee as the President
    and Chief Executive Officer of the Bank and Hanmi Financial Corporation,
    shall be terminated prior to expiration of the term of this Agreement as
    provided in this Section:

    a)  Disability.

    In the event that Employee shall fail, because of illness, incapacity or
    injury which is determined to be total and permanent by a physician selected
    by the Bank or its insurers and acceptable to Employee or Employee's legal
    representative (such agreement as to acceptability not to be withheld
    unreasonably) to render for three consecutive months or shorter periods
    aggregating 60 or more business days in any twelve (12)-month period, the
    services contemplated by this Agreement, Employee's employment hereunder may
    be terminated, as allowed by law.


    b)  Death.

    In the event of Employee's death during the term of this Agreement,
    Employee's Base Salary and any other right or benefit shall terminate.

    c)  Action by Supervisory Authority.

    If Bank or Hanmi Financial Corporation is ordered to remove, suspend, or
    take any other action against Employee (by an order issued under Section
    8(e)(4) or (g)(1) of the Federal Deposit Insurance Act [12 U.S.C. 1818(e)(3)
    or (e)(4) or (g)(1)]), or Bank


<PAGE>

    (or Hanmi Financial Corporation) is closed or in default (as defined in
    Section 3(x)(1) of the Federal Deposit Insurance Act [12 U.S.C. 1813(x)(1)])
    or Bank or Hanmi Financial Corporation is taken over by the California State
    Department of Financial Institutions, the Federal Reserve, or the Federal
    Deposit Insurance Corporation, Bank or Hanmi Financial Corporation may
    immediately terminate this Agreement without further liability, compensation
    or obligation to Employee, except that Employee shall be entitled to his
    rights, if any, under Paragraph 4(c) hereof and the Stock Option Plan
    referred to therein.

    d)  For Cause

    Employee's employment hereunder shall be terminated and all of his rights to
    receive Base Salary, Bonus or Stock Options under Paragraph 4 of the
    Agreement or any other benefit or perquisite provided to Employee under this
    Agreement except the payment of accrued but unused vacation, shall terminate
    upon a good faith determination by the Board that Employee is or has been
    personally dishonest, incompetent, or is engaging or has engaged in willful
    or negligent misconduct.

    e)  Without Cause

    Notwithstanding any other provision in this Agreement to the contrary, the
    parties agree that either the Employee or the Bank (or Hanmi Financial
    Corporation) may terminate this Agreement, including any extensions thereto,
    without cause at any time.

    i.      If Bank (or Hanmi Financial Corporation) terminates this Agreement
            without cause, upon such termination and upon Employee's execution
            of a general release agreement, the Bank (and not Hanmi Financial
            Corporation) shall pay Employee his Base Salary, excluding any
            bonuses, for a period of six (6) months or for the remaining
            duration of the term of this Agreement, whichever is lesser. In no
            event will Employee be entitled to more than six months of his base
            salary upon termination. During this six-month period or the
            remainder of the term of the Agreement, whichever is less, Employee
            shall not be entitled to any other benefits or perquisites provided
            by this Agreement.

    ii.     If the Bank (or Hanmi Financial Corporation) terminates this
            Agreement without cause, Employee shall also be entitled to all of
            his accrued but unused vacation leave at his then current daily
            salary rate.

    iii.    If Employee terminates this Agreement without cause, Employee's base
            salary, bonus and all other benefits or perquisites provided by this
            Agreement shall immediately terminate on the date Employee
            terminates this Agreement.

7.  Business Expenses

    During the term of this Agreement, to the extent that such expenditures
    satisfy the criteria under the Internal Revenue Code for deductibility by
    Bank (whether or not fully deductible by the Bank) for Federal income tax
    purposes as ordinary and necessary business expenses, Bank (and not Hanmi
    Financial Corporation) shall reimburse Employee promptly for reasonable
    business expenditures, including travel, entertainment, parking, business
    meetings, and professional dues and dues associated with maintaining club
    memberships, so long as such expenses are properly documented by Employee to
    the satisfaction of Bank and Board.

8.  Miscellaneous.

    a)  Succession; Survival.

    This Agreement shall inure to the benefit of and shall be binding upon Bank,
    its successors and assigns, but without the prior written consent of
    Employee this Agreement may not be assigned other than in connection with a
    merger or sale of substantially all the assets of Bank or a similar
    transaction in which the successor or assignee assumes (whether by operation
    of law or express assumption) all obligations of Bank hereunder. The
    obligations and duties of Employee hereunder are personal and otherwise not
    assignable. Employee's obligations and representatives under this Agreement
    will survive the termination of Employee's employment, regardless of the
    manner of such termination.

9.  Incorporation by Reference of Employee Handbook Policies and Stock Option
    Plan

    This Agreement incorporates by reference all policies of Bank (and Hanmi
    Financial Corporation) contained in its Employee Handbook. Employee has
    acknowledged in writing the receipt of a copy of the Employee Handbook and
    agrees to comply with all such policies. To the extent that the terms of the
    Employee Handbook contradict or conflict with the terms of the Agreement,
    the terms of this Agreement shall prevail. This Agreement incorporates by
    reference the Stock Option Plan.

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10. Entire Agreement: Amendments

    This Agreement, along with any documents incorporated herein by reference,
    contains the entire agreement of the parties relating to the subject matter
    hereof and it supersedes any prior agreements, undertakings, commitments and
    practices relating to Employee's employment as President and Chief Executive
    Officer of the Bank and Hanmi Financial Corporation. No amendment or
    modification of the terms of this Agreement shall be valid unless made in
    writing and signed by Employee and by Bank and Hanmi Financial Corporation.

11. Waiver

    No failure on the part of any party to exercise or delay in exercising any
    right hereunder shall be deemed a waiver thereof or of any other right, nor
    shall any single or partial exercise preclude any further or other exercise
    of such right or any other right.

12. Choice of Law

    This Agreement, the legal relations between the parties and any action,
    whether contractual or non-contractual, instituted by any party with respect
    to matters arising under or growing out of or in connection with or in
    respect of this Agreement, the relationship of the parties as employer and
    employee or the subject matter hereof shall be governed by and construed in
    accordance with the laws of the State of California applicable to contracts
    made and performed in such State and without regard to conflicts of law
    doctrines, to the extent permitted by law.

13. Attorneys' Fees

    If any dispute shall occur between Employee and the Bank or Hanmi Financial
    Corporation which arises out of an alleged breach of this Agreement or which
    seeks an interpretation of this Agreement, the prevailing party in any such
    dispute shall be entitled to recover all costs and expenses associated with
    such dispute, including reasonable attorneys' fees and costs.

14. Confidentiality; Proprietary Information

    Employee agrees to not make use of, divulge or otherwise disclose, directly
    or indirectly any trade secret or other confidential or proprietary
    information concerning the business (including but not limited to its
    products, employees, services, practices or policies) of Bank, Hanmi
    Financial Corporation or any of their affiliates of which Employee may learn
    or be aware as a result of Employee's employment during the Term of this
    Agreement except to the extent such use or disclosure is (i) necessary to
    the performance of this Agreement and in furtherance of Bank's and Hanmi
    Financial Corporation's best interests, or (ii) required by applicable law.
    The provisions of this Paragraph 14 shall survive the expiration, suspension
    or termination, for any reason, of this Agreement.

15. Trade Secrets

    Employee, prior to and during the term of employment, has had and will have
    access to and become acquainted with various trade secrets including, but
    not limited to, software, plans, formulas, patterns, devices, secret
    inventions, processes, customer lists, employee information, contracts, and
    compilations of information, records and specifications, which are owned by
    Bank and/or Hanmi Financial Corporation and regularly used in the operation
    of their respective businesses and which may give Bank and/or Hanmi
    Financial Corporation an opportunity to obtain an advantage over
    competitors, who do not know or use such trade secrets. Employee agrees and
    acknowledges that Employee has been granted access to these valuable trade
    secrets only by virtue of the confidential relationship created by
    Employee's employment. Employee shall not disclose any of the aforesaid
    trade secrets, directly or indirectly, or use them in any way, either during
    the term of this Agreement or at any time thereafter, except as required in
    the course of employment as the President and Chief Executive Officer of the
    Bank and Hanmi Financial Corporation and for their benefit. All records,
    files, documents, drawings, specifications, software, equipment, and similar
    items relating to the business of Bank, Hanmi Financial Corporation, or its
    affiliates, including without limitation all records relating to customers
    (the "Documents"), whether prepared by Employee or otherwise coming into
    Employee's possession, shall remain the exclusive property of Bank, Hanmi
    Financial Corporation or such affiliates and shall not be removed from the
    premises of Bank, Hanmi Financial Corporation, or its affiliates under any
    circumstances whatsoever without the prior consent of the Board. Upon
    termination of employment for any reason, Employee agrees to promptly
    deliver to Bank all Documents in the possession or under the control of
    Employee.

16. Inventions and Patents

    Except as may be limited by Section 2870 of the California Labor Code, all
    inventions, designs, improvements, patents, copyrights, and discoveries
    conceived by Employee during the term of this Agreement which are useful in
    or directly or indirectly related to the business of Bank or Hanmi Financial
    Corporation or to any experimental work carried on by Bank or Hanmi
    Financial Corporation, shall be the property of Bank and/or Hanmi Financial
    Corporation. Employee will promptly and fully disclose to Bank and Hanmi
    Financial Corporation all such inventions, designs, improvements, and
    discoveries (whether developed individually or with other persons) and shall
    take all steps necessary and reasonably required to assure Bank's and/or
    Hanmi Financial Corporation's ownership thereof and to assist Bank and/or
    Hanmi Financial Corporation in protecting or
<PAGE>

    defending Bank's and/or Hanmi Financial Corporation's proprietary rights
    therein. Employee acknowledges hereby receipt of written notice from Bank
    and Hanmi Financial Corporation pursuant to Labor Code Section 2872 that
    this Agreement (to the extent it requires an assignment or offer to assign
    rights to any invention of Employee) does not apply fully to an invention
    which qualifies fully under California Labor Code Section 2870. The full
    text of Section 2870 is attached hereto as Exhibit "A."

17. Place of Employment

    The principal place of employment and the location of Employee's principal
    office shall be in Los Angeles, California.

18. Severability

    If any provision of this Agreement is held to be illegal, invalid or
    unenforceable under existing or future laws effective during the term of
    this Agreement, such provisions shall be fully severable, the Agreement
    shall be construed and enforced as if such illegal, invalid or unenforceable
    provision had never comprised a part of this Agreement, and the remaining
    provisions of this Agreement shall remain in full force and effect and shall
    not be affected by the illegal, invalid or unenforceable provision or by its
    severance from this Agreement. Furthermore, in lieu of such illegal, invalid
    or unenforceable provision, there shall be added automatically as part of
    this Agreement a provision as similar in terms to such illegal, invalid or
    unenforceable provision as may be possible and be legal and enforceable.

19. Material Breach

    If Employee commits a material breach of this Agreement, all of Bank's and
    Hanmi Financial Corporation's obligations to Employee pursuant to this
    Agreement shall immediately cease.

20. Section Headings

    Section and other headings contained in this Agreement are for convenience
    of reference only and shall not affect in any way the meaning or
    interpretation of this Agreement.

21. Unique Services: Specific Performance

    The parties hereto agree that the services to be rendered by Employee
    pursuant to this Agreement, and the rights and privileges granted to the
    Bank and Hanmi Financial Corporation pursuant to this Agreement, and the
    rights and privileges granted to Employee by virtue of his position, are of
    a special, unique, extraordinary and intellectual character, which gives
    them a peculiar value, the loss of which cannot be reasonably or adequately
    compensated in damages in any action at law, and that a breach by Employee
    of any of the terms of this Agreement will cause Bank and/or Hanmi Financial
    Corporation great and irreparable injury and damage. Employee, Bank and
    Hanmi Financial Corporation hereby expressly agree that Employee, Bank or
    Hanmi Financial Corporation shall be entitled to the remedies of injunction,
    specific performance and other equitable relief to prevent a breach of this
    Agreement by any party. Without limiting the generality thereof, the parties
    expressly agree that Bank, Hanmi Financial Corporation and Employee shall be
    entitled to the equitable remedies set forth in this paragraph 21 for any
    violation of paragraphs 14, 15, 22, 23, and 24. This paragraph shall not be
    construed as a waiver of any other rights or remedies which Bank, Hanmi
    Financial Corporation, or Employee may have for damages or otherwise.

22. Non-Competition

    Employee agrees that for a period of one (1) year after the termination of
    Employee's employment, Employee will not, directly or indirectly, compete
    against, or in any manner be connected with or employed by any individual,
    association or other entity that is in competition with Bank's or Hanmi
    Financial Corporation's business in Los Angeles County.

23. Non-Solicitation

    Employee agrees that for a period of one (1) year after the termination of
    employment, Employee will not, on behalf of Employee or on behalf of any
    other individual, association or entity, call on any of the customers of
    Bank or Hanmi Financial Corporation for the purpose of soliciting or
    inducing any of such customers to acquire (or providing to any of such
    customers) any product or service provided by Bank or Hanmi Financial
    Corporation or a Related Company, nor will Employee in any way, directly or
    indirectly, as agent or otherwise, in any other manner solicit, influence or
    encourage such customers to take away or to divert or direct their business
    to Employee or any other person or entity by or with which Employee is
    employed, associated, affiliated or otherwise related.

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24. No-Raiding of Employees

    Employee agrees that for a period of one (1) year after the termination of
    Employee's employment, Employee will not, directly or indirectly, disrupt,
    damage, impair, or interfere with Bank's or Hanmi Financial Corporation's
    business by soliciting, influencing, encouraging or recruiting any employee
    of Bank or Hanmi Financial Corporation to work for Employee or any entity
    with which Employee is affiliated or related.

25. Counterparts

    This Agreement and any amendment hereto may be executed in one or more
    counterparts. All of such counterparts shall constitute one and the same
    agreement and shall become effective when a copy signed by each party has
    been delivered to the other party.

26. Representation By Counsel; Interpretation

    Bank, Hanmi Financial Corporation and Employee acknowledge that they have
    been represented by counsel in connection with this Agreement and the
    matters contemplated by this Agreement. Accordingly, any rule of law,
    including but not limited to Section 1654 of the California Civil Code, or
    any legal decision that would require interpretation of any claimed
    ambiguities in this Agreement against the party that drafted it has no
    application and is expressly waived. The provisions of this Agreement shall
    be interpreted in a reasonable manner to affect the intent of the parties.

27. Arbitration.

    Except for any controversy or claim arising from a breach of the covenants
    in paragraphs 14, 15, 22, 23, and 24 of this Agreement, any controversy or
    claim arising out of or relating to this Agreement or the breach thereof, or
    arising out of or relating to Employee's employment or termination of
    employment shall be submitted and resolved by final and binding arbitration
    under the terms of the Federal Arbitration Act and in a manner consistent
    with the California Code of Civil Procedure (and the California Arbitration
    Act). Any arbitration shall be in accordance with and under the auspices and
    rules of the American Arbitration Association. The arbitrator shall be
    selected by mutual agreement of the parties. The arbitrator shall have
    exclusive authority to resolve any dispute relating to the interpretation,
    applicability, enforceability, or formation of this Agreement including but
    not limited to any claim that all or any part of this Agreement is void or
    void able. The arbitration process will begin upon service of a written
    request of the complaining party served on the other within the appropriate
    statute of limitations as prescribed by law. Service of the written request
    shall be made only by certified mail, with a return receipt requested at the
    addresses listed below. The Arbitrator shall be neutral and shall have no
    authority to alter, amend, modify or change any of the terms of this
    Agreement. Upon conclusion of the arbitration, the arbitrator shall issue a
    written decision setting forth the reasons for his or her award. The
    decision of the Arbitrator shall be final and binding and judgment thereon
    may be entered in any court having jurisdiction thereof. Should Employee
    initiate an action in arbitration pursuant to this Paragraph, Employee shall
    be required to pay a fee no greater than what he would be required to pay to
    file an action in court. The remaining arbitration fees and costs shall be
    borne by the Bank and/or Hanmi Financial Corporation, except as allowed by
    law. Attorneys' fees shall be awarded to the prevailing party pursuant to
    paragraph 13 of this Agreement for any and all contractual claims.
    Otherwise, each party shall bear his or its own attorneys' fees, unless
    otherwise provided for by applicable law.

    The parties intend that this arbitration procedure is mandatory and shall be
    the exclusive means of resolving all disputes between Employee and Bank,
    Employee and Hanmi Financial Corporation and/or Employee and Bank's or Hanmi
    Financial Corporation's employees, directors, officers or managers involving
    or arising out of this Agreement, the parties' employment relationship
    and/or the termination of that relationship including, but not limited to
    any controversies or claims pertaining to wrongful discharge and alleged
    violations of the covenant of good faith and fair dealing, implied contracts
    and/or public policies or anti-discrimination statutes. Employee, Bank and
    Hanmi Financial Corporation expressly acknowledge and understand that, as a
    result of this agreement to arbitrate, they are giving up their right to
    trial by a jury.

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



DATED: May 1, 2002                          /s/ Chung Hoon Youk
                                            -----------------------------------
                                            CHUNG HOON YOUK

DATED: May 1, 2002                          /s/ Joseph K. Rho
                                            -----------------------------------
                                            HANMI BANK
                                            By: JOSEPH K. RHO
                                            Its: Chairman, Board of Directors


DATED: May 1, 2002                          /s/ Joseph K. Rho
                                            -----------------------------------
                                            HANMI FINANCIAL CORPORATION
                                            By: JOSEPH K. RHO
                                            Its: Chairman, Board of Directors
<PAGE>
                                   EXHIBIT "A"

    Labor Code Section 2870: Application of provision that employee shall assign
    or offer to assign rights in invention to employer.

    1.  Any provision in an employment agreement which provides that an employee
        shall assign, or offer to assign, any of his or her rights in an
        invention to his or her employer shall not apply to an invention that
        the employee developed entirely on his or her own time without using the
        employer's equipment, supplies, facilities or trade secret information
        except for those inventions that either:

        a)  Relate at the time of conception or reduction to practice of the
            invention to the employer's business, or actual or demonstrably
            anticipated research or development of the employer;

        b)  Result from any work performed by the employee for the employer.

    2.  To the extent a provision in an employment agreement purports to require
        an employee to assign an invention otherwise excluded from being
        required to be assigned under subdivision (a), the provision is against
        the public policy of this state and is unenforceable.