The Industrial Bank of Korea operates exclusively within South Korea (the Republic of Korea). Headquartered in the Euljiro business district of Jung-gu, Seoul, it functions as a major financial institution under the jurisdiction of the South Korean government's Financial Services Commission. It does not operate within North Korea (the Democratic People's Republic of Korea), as North Korea maintains a completely separate, state-controlled command banking system that remains closed to foreign financial participation and international commercial banking networks like SWIFT.