Sohn announces bid for WA treasurer

ChangMook Sohn, the state's chief economist for more than two decades, on Monday announced his bid for state treasurer.

Sohn retired Friday from his nonpartisan post as director of the state Revenue Forecast Council, and wasted no time jumping into the Democratic primary to become the state's banker.

It's Sohn's first bid for elective office, after spending his entire career as a top government economist in New York, Illinois, Oregon and, for the last 23 years, Washington state.

He told The Associated Press that the prospect of a Korean-born candidate winning statewide office is thrilling to Asian-Americans across the state and to his broad network of friends in South Korea.

Sohn, 63, said the bid for office is "brand new for me. It is a daunting task for sure."

Democratic incumbent Mike Murphy is stepping down and backing his Republican deputy, Allan Martin, the former treasurer of Chelan County.

Sohn is the second major Democrat to enter the primary. State Rep. Jim McIntire, of Seattle, chairman of the state forecast panel and former House Finance Committee chairman, is running.

The primary is in August; the general election is in November. The four-year term carries a salary of $116,950 a year.

Sohn said Gov. Chris Gregoire plans to stay neutral in the primary. But his Web site lists endorsements by former Gov. Gary Locke, former Treasurer Dan Grimm, former Deputy Treasurer Lyle Jacobsen, former Washington State University President Sam Smith, lawmakers and former lawmakers from both parties, and leaders form business, higher education and health care.

Denny Heck, former House majority leader from Clark County and chief of staff to Gov. Booth Gardner, said: "ChangMook has a reputation as a straight-shooter where tax dollars are concerned. People want a treasurer that doesn't play politics with their money. In the most political place in the state, he's managed to make friends and to gain the respect of people on both sides of the aisle."

Sohn's campaign released a glowing quotation from Gregoire praising his work at the council.

As leader of the forecast council, Sohn has been barred from partisan politics. He said he agrees with Murphy's repeated attempts to persuade the Legislature to make the office nonpartisan.

But for now, he's running as a Democrat, emphasizing his work on the council, his eight years on the Higher Education Coordinating Board, and his work on Group Health and KCTS boards. He has taken part in 15 trade missions with five governors and the lieutenant governor.

His campaign press release includes a bit of uncharacteristic bragging: "I know Washington's finances better than anyone and I'm ready to put that knowledge to work for the people of Washington."

In an interview, he said that his long years in government service, coupled with his passion for higher education and health care, make him an ideal fit for the office.

As treasurer, he said he would manage public deposits to provide maximum return and minimize risk, and preside over the state Finance Committee's bond sales using his knowledge of state, national and international finance. He said he would promote the Guaranteed Education Tuition program, which allows prepayment of college tuition at today's prices. Over 100,000 families have signed up.

Sohn was born in Gwangu, South Korea, in 1944 and came to the U.S. when he was 25 to get his doctorate in economics at the State University of New York in Albany.

"I was the first person in my family in 18 generations to move further than 25 miles from our ancestral village," he said.

After earning his doctorate, he worked as a government economist, including a stint as Oregon's state economist. He was hired away in 1984 to become the first director of a newly created council of administration and legislative members. The panel regularly adopts updated revenue forecasts that the governor and Legislature use in making budget-and-tax decisions.

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On the Net:

Sohn campaign: http://www.changmooksohn.com