Renowned Economist Brings Decades of Experience in Public,
Private and Academic Sectors

SAN PEDRO, Calif. - July 22, 2011 - The Los Angeles City Council today unanimously approved the appointment of Dr. Sung Won Sohn to the Port of Los Angeles Board of Harbor Commissioners. Mayor Antonio Villaraigosa made the appointment last month.

"Dr. Sohn brings an invaluable wealth of economic and practical expertise to the Harbor Commission," said Harbor Commission President Cindy Miscikowski. "We're fortunate to have him join our team to help the Port of Los Angeles continue to expand its role as the nation's premier trade gateway."

Dr. Sohn is currently an Endowed Professor of Economics for the Martin V. Smith School of Business & Economics at California State University Channel Islands, and Vice Chairman of Forever 21, a multi-national retailer. Previously, he was President and Chief Executive Officer of Los Angeles-based Hanmi Bank. From 1998 to 2005, he was the Executive Vice President and Chief Economic Officer at Wells Fargo Banks where he was responsible for macro-economic forecasting, monetary policy and regulatory matters.

Named one of the five best economic forecasters in the country by the Wall Street Journal in 2010, Dr. Sohn also served as senior economist on the President's Council of Economic Advisors during the Nixon Administration where he was responsible for economic and legislative matters pertaining to the Federal Reserve and financial markets.

In 2002, he was named to TIME Magazine's Board of Economists and was previously selected by Bloomberg News as one of the five most accurate forecasters in the United States.

Dr. Sohn holds a doctorate in economics from the University of Pittsburgh. He is the author of a book, "Global Financial Crisis and Exit Strategy."

The Port of Los Angeles is America's premier port and has a strong commitment to developing innovative strategic and sustainable operations that benefit the economy as well as the quality of life for the region and the nation it serves. As the leading seaport in North America in terms of shipping container volume and cargo value, the Port generates more than 830,000 regional jobs and $35 billion in annual wages and tax revenues. A proprietary department of the City of Los Angeles, the Port is self-supporting and does not receive taxpayer dollars.

The Port of Los Angeles – A cleaner port. A brighter future.