iM Bank installs bust of founding president at Daegu headquarters

iM Bank unveiled a bust of its late founding president, Kim Jun-sung, on Friday, ahead of the bank's 59th anniversary in October.

The ceremony was held at the financial museum inside iM Bank's Suseong-dong headquarters in Daegu and was attended by Kim's immediate family, including his eldest son Kim Sang-beom, chairman of Isu Group, and Kim Se-min, chief executive of Isu Co.

Kim Jun-sung co-founded Daegu Bank — the predecessor of iM Bank — in 1967 alongside local business leaders, establishing the country's first regional bank, and served as its inaugural president.

Under the slogan "Daegu's money to Daegu Bank," he rallied support from the business community and residents to lay the foundation for the bank's growth.

Kim left Daegu Bank in 1975 to serve as governor of the Bank of Korea and later as deputy prime minister and minister of the Economic Planning Board. After leaving public office, he went on to chair Samsung Electronics, Daewoo and Isu Chemical.

The bronze bust was created by sculptor Kim Seung-guk, a former professor at Yeungnam University, and was commissioned in 2007 to mark the bank's 40th anniversary.

It had been kept at the iM Bank training center, where it served as an educational resource, before being moved to the headquarters Friday.

"Today's iM Bank has grown from the seed that President Kim Jun-sung planted in Daegu in 1967 into a towering tree with deep roots," said Hwang Byung-woo, chairman of iM Financial Group.

Kim Sang-beom said he felt his father's spirit still living on through iM Bank. "I hope iM Bank and Isu Group can grow together as partners," he added.