Nara Bancorp Chairman Chong-Moon Lee Announces Departure From Board Of Directors To Focus On International Philanthropic Endeavors - TheStreet

Nara Bancorp, Inc. (the “Company”) (NASDAQ: NARA), the holding company of Nara Bank (the “Bank”), announced that Chong-Moon Lee, Chairman of the Board of the Company and a member of the Board of the Bank, will step down from his board positions effective today, September 15, 2010. Mr. Lee indicated that he intends to devote his full attention to his mission to promote social innovation, including building elementary and secondary schools in the poorest Asian and African countries.

Mr. Lee stated, “I am very proud of the work we have done with the Board and management to build Nara Bancorp into one of the premier Korean-American financial institutions in the country and I am confident that the current Board of Directors and management team will continue to grow the franchise in the future. Those who know me well know that I am an enthusiast for education and I see a tremendous need for building the educational infrastructure in many regions within the less developed countries in Asia and Africa. I am excited about spending the next several months in Nepal, Bhutan and Tibet and helping to improve the educational infrastructure in a way that will have a positive impact in that region for generations to come.

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Nara Bancorp Chairman Chong-Moon Lee Announces Departure From Board Of Directors To Focus On International Philanthropic Endeavors - TheStreet