Center Financial Corp., which largely targets Los Angeles?Korean-American community, said late Tuesday that its directors named Jin Chul Jhung as its chairman and appointed Kevin Sung Kim to the new position of vice-chairman.

Jhung, 66, is founder and chairman of wig and hair product giant Royal Imex Inc. and has been a bank director since 1998. He has more than four decades of business experience in the United States and the Republic of Korea.

Kim, 51, has been a bank director since September. He is a certified public accountant and an attorney, and like Jhung serves on the audit and compensation committees. A former senior manager at KPMG LLP, Kim is founder of Kevin S. Kim & Associates, a corporate and business law firm.

The former chairman, Peter Y.S. Kim, remains on the board. The vice chairman position is new and designed to give a higher profile to Kim’s financial experience during the current economic environment.

Center Financial, the parent of Center Bank in March revised its fiscal 2008 results by increasing its loan loss provision by $11.4 million to $26.2 million for the year due to poor performing construction-related loans, and suspended its quarterly cash dividend.

The bank also announced that shareholders had re-elected all eight directors at its annual meeting.

Center Financial shares were down 6 cents, or 2 percent, to $3.10 in midday trading on the Nasdaq.