[EXHIBIT 5.1]



                                 May 2, 2000


Securities and Exchange Commission
Division of Corporate Finance
450 Fifth Street, N.W.
Washington, D.C.  20549

Attention Office of Applications and Reports Services


Re:      Hanmi Financial Corporation
         Registration Statement on Form S-4 (File No. 333-32770)

Gentlemen:

         We have acted as counsel to Hanmi Financial Corporation, a Delaware
corporation (the "Company"), in connection with the registration of 7,500,000
shares of common stock, $.001 par value (the "Shares") with the Securities and
Exchange Commission (the "Commission") under the Securities Act of 1933, as
amended, (the "1933 Act"), pursuant to a registration statement on Form S-4 (the
"Registration Statement"). The Shares are registered on behalf of the Company
and will be issued pursuant to a Plan of Reorganization and Agreement of Merger
by and among the Company, Hanmi Bank and Hanmi Merger Co. dated as of April 15,
2000 ("Reorganization Agreement").

         This opinion is being delivered in accordance with the requirements of
Item 601(b)(5)(i) of Regulation S-K under the 1933 Act.

         In our capacity as counsel to the Company, we have reviewed such
documents and made such inquiries as we have reasonably deemed necessary to
enable us to render the opinion expressed below. In all such reviews, we have
made certain customary assumptions such as the genuineness of all signatures,
the authenticity of all documents submitted to us as originals, the lack of any
undisclosed modifications, waivers, or amendments to any documents reviewed by
us and the conformity to authentic original documents of all documents submitted
to us as conformed or photostatic copies. For purposes of rendering this
opinion, we have investigated such questions of law as we have deemed necessary.

         On the basis of the foregoing, and in reliance thereon and subject to
the assumptions, qualifications, exceptions and limitations expressed herein, we
are of the opinion that when the Shares are issued in accordance with the terms
of the Reorganization Agreement, the Shares will be duly authorized, legally
issued, fully paid and non-assessable shares of the Company's Common Stock.




Securities and Exchange Commission
May 2, 2000
Page 2

         This opinion is limited to the present laws of the State of California
and of the United States of America, and the corporate law of the State of
Delaware.

         This opinion is solely for your information and the shareholders of
record (as defined in the Registration Statement) in connection with the
offer and sale of the Shares by the Company, and is not, without the prior
written consent of this firm, to be quoted in full or in part or otherwise
referred to in any documents nor to be filed with any governmental agency or
other persons, other than with the Commission and various state securities
administrators in connection with the qualification of the Shares, to which
reference and filings we hereby consent.

                                     Very truly yours,

                                     /s/ BUCHALTER, NEMER, FIELDS & YOUNGER
                                     A Professional Corporation