ELECTIONS / CONGRESSIONAL DISTRICTS : Korman Adds $200,000 of His 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 Sherman Oaks through the south and west San Fernando Valley to Malibu and also includes Thousand Oaks in Ventura County.

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.

In the nearby 25th Congressional District--which covers the Antelope and Santa Clarita valleys and much of Northridge, Chatsworth and Granada Hills--Assemblyman Phillip Wyman (R-Tehachapi) and Santa Clarita Councilman Howard (Buck) McKeon are generally considered the front-runners in a GOP field of six.

Wyman and McKeon reported raising and spending roughly the same amounts, but their campaign treasuries show very different balances as the race enters its final 10 days. Wyman has nearly $29,000 available for the race’s last phase, and McKeon has only $2,300.

“It means I’m going to have to write bigger checks,” said McKeon, laughing. McKeon, millionaire part-owner of the Howard & Phil’s Western Wear chain, has already loaned his campaign $80,000.

Wyman said he has spent $177,000, and McKeon has paid out $193,000. Wyman loaned his campaign $18,000.

But while Wyman reported a campaign debt of $24,000, McKeon’s campaign owes $103,000.

“They tell me, if I win, that, in the time I’m in Congress, I’ll be able to get it back--that you get money from the party and other people,” McKeon said.

“If I lose, I’ll never see it again,” he said, quickly adding, “but I’m expecting to win.”

A third major candidate in the race, former Rep. John Rousselot, said he has spent $71,000 to date and has $4,500 in cash on hand.

McKeon and Rousselot have received only small amounts of money from special-interest political action committees, but Wyman received nearly $21,000 in PAC contributions during the reporting period from April 1 to May 13.

The biggest--nearly $5,000--came from the National Rifle Assn. Wyman also received $1,000 from a PAC representing employees of the Northrop Corp., which assembles the B-2 bomber in Palmdale. Wyman opposes President Bush’s plan to limit production of the radar-evading planes to 20, saying 50 should be built.

In addition, Wyman, who supports expansion of offshore oil drilling along California’s coast, received $3,000 from PACs representing the oil industry.

Many of McKeon’s contributors were business executives, professionals and retirees who live in the 25th District. Wyman also reported many contributions from district residents but also drew on supporters in Kern County, which is part of his Assembly district.

Rousselot’s contributors included T. Boone Pickens, the Texas oilman and corporate raider, and Michelle Laxalt, a Washington lobbyist who is the daughter of former U.S. Sen. Paul Laxalt (R-Nev).

In the 24th District race dominated by Korman and McClintock, 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.