ELECTIONS / 24TH CONGRESSIONAL DISTRICT : Korman Adds $200,000 of Own Money to War Chest

Wealthy congressional contender Sang Korman has pumped an additional $200,000 of his own money into his drive to capture the Republican nomination in a new district that includes the west San Fernando Valley, adding to an already large fund-raising lead over eight rivals.

But Korman raised only $4,000 from individual contributors--most of them fellow Korean-Americans outside the district--in a recent six-week period, according to campaign reports filed this week with the Federal Election Commission.

Korman, who has vowed to spend “whatever it takes” to win, is running in the newly created 24th Congressional District, which extends from Thousand Oaks to Malibu and into the San Fernando Valley.

Korman spent $550,000 of his own money in two losing bids for Congress in 1988 and 1990. Out of a total war chest of $400,000 raised for his current campaign, his personal investment is already $330,000, including the latest loan.

By contrast, the candidate widely regarded as the front-runner in the race--Assemblyman Tom McClintock (R-Thousand Oaks)--has collected $98,000. A third major candidate, Calabasas trade consultant Jim Salomon, gathered $99,000.

Whoever wins the GOP nomination on June 2 will face eight-term Rep. Anthony Beilenson, who is unopposed in the Democratic primary.

McClintock, a staunch conservative, admits he worries about Korman’s willingness to spend lavishly on mailers and advertising.

McClintock’s campaign report indicates he received $6,000 from political action committees, including $2,500 from those representing oil companies. On a questionnaire filled out for The Times, McClintock was the only major candidate in the race to say he would support expanding oil exploration along the California coastline.

Two other GOP candidates who trail the leaders in collecting money gave their campaigns a boost by making loans to their fund-raising committees, reports show.

Nicholas Hariton, a Sherman Oaks attorney, loaned his campaign $21,000, bringing his total treasury to $53,000. Rob Meyer, an Encino attorney, loaned his campaign $40,000, giving him a total of $52,000 to campaign with.

Salomon, who acknowledged in an interview that contributions to his campaign have been “somewhat affected by the recession,” listed $62,000 in receipts during the six-week period, but $30,000 of that was the value he placed on allowing his campaign to use his own office and equipment.