Press Releases Press Releases

DEPARTMENT OF CORPORATIONS
California's Investment and Financing Authority

For Immediate Release:
August 9, 2005
Contact: Susie Wong, Jeff Toney
(916) 324-9011

UPDATE TO JULY 28, 2005 NEWS RELEASE

SIX LEADERS FROM KEY STATE DEPARTMENTS AND KOREAN AMERICAN COMMUNITY JOIN FORCES TO COMBAT FINANCIAL AND CONSUMER FRAUD

Financial, lending, real estate, health care, and consumer protection programs collaborate to reach Korean American community in Southern California

SACRAMENTO, CA - The California Department of Corporations (Corporations) announced today that key state government officials from six state departments will be participating in the Korean American Consumer Protection Summit on August 10, 2005 at the Korean American Education Foundation in Los Angeles. The event is being held in joint collaboration with Korean American community leaders in Southern California, in addition to the California Department of Real Estate, California Department of Financial Institutions, California Department of Managed Health Care, California Office of the Patient Advocate, and California Department of Consumer Affairs.

"Key state officials are joining together to send a message to the Korean American community that state departments are here to provide services and programs that we know can be of great service to residents," said California Corporations Commissioner Wayne Strumpfer.

The event kicks off with a public reception to meet acting Corporations Commissioner Strumpfer, California Department of Real Estate Commissioner Jeff Davi, California Commissioner of Financial Institutions Howard Gould, California Department of Managed Health Care Assistant Deputy Director Amy Dobberteen, California Office of the Patient Advocate acting Director Ed Mendoza, and California Department of Consumer Affairs Director Charlene Zettel. A panel discussion follows in which government leaders will address state consumer protections available to Korean American community members and businesses that promote informed consumer choices and public understanding of products and services under the purview of the participating departments.

Korean American community leaders who participated in a May 2005 meeting with Corporations on protecting community members from investment and lender fraud will be recognized at the Korean American Consumer Protection Summit for their support. These include U.S. Representative Ed Royce (40th District) District Representative Young O. Kim; Korean American Chamber of Commerce President Gu Hyun Shin; Korean American Federation of Los Angeles Chairman Sang Yun Kang and President Yong Tae Lee; Korean American Coalition President Charles Kim; Korean American Grocery Association President Ki Young Lee; Korean American Bar Association President Ellen Shin and President-elect Ekwan Rhow; Korean American CPA Association President Won Chul Kim; Korean American Insurance & Financial Professional Association President Sunny Kwon; and Los Angeles Police Department Retired Commander Paul Kim.

When: Wednesday, August 10, 2005, 6:00 p.m. - 8:00 p.m.

Where: Korean American Education Foundation 680 Wilshire Place1st floor Auditorium Los Angeles, CA

Parking: Complimentary parking after 6:00 p.m. is provided at the foundation.

Media are invited for the community reception, panel discussion and Q & A to learn about the various state departments services, programs and initiatives to outreach to the Korean American community. One-on-one interviews will be available in a separate location of the auditorium after the community reception, panel discussion and Q & A.

Cameras and recording devices will be permitted. Please bring your press credentials for sign-in.

CONTACT: California Department of Corporations
(916) 324-9011

The Department of Corporations is California's investment and financing authority and is responsible for the regulation, enforcement, and licensing of securities, franchises, off-exchange commodities, investment and financial services, independent escrows, consumer and commercial finance lending, residential mortgage lending, and payday lenders. Contact our toll-free consumer resource center at 1-866-ASK-CORP (275-2677) for information or to obtain a consumer complaint form. Please visit Corporations' Web site at www.corp.ca.gov.