LX creates social value from spatial information

LX Director Kim Taek-jin speaks during an inter-ministry workshop on the “Establishment of a National Master Plan on Spatial Information Infrastructure 2020-2025” in Phnom Penh, Cambodia, Jan. 23. Courtesy of LX

By Kwak Yeon-soo

Korea Land and Geospatial InformatiX Corp., or LX, is ramping up its efforts to address social responsibility as the state-run geospatial information provider.

LX, which offers fast and accurate survey services and various cadastral spatial data services, won high ratings in performance evaluations of Korean state-owned enterprises and quasi-public institutions for its public-friendly policies. The company has earned high grades for two consecutive years.

Last year, LX established a “social value center” and promoted a shared growth business model through building the “LX Dream Center” and “Overseas Help Center.”

It has collaborated with industry, academia and the government to lead the development of the spatial information business and create an innovative entrepreneurial ecosystem to better support the needs of startups.

In particular, LX launched its new “Young Entrepreneurship Program” as a quasi-government institution and established the “Business Support Center” to nurture young entrepreneurs.

The Land Ministry affiliate plans to establish the “LX Dream Center,” startup incubating space for those having a business idea using spatial information, in Sejong and Jeonju.

This is aimed at providing a one-stop service to anybody in need of utilizing spatial information. The success of startup JtoD is attributed to the LX Dream Center.

The Ministry of Land, Transport and Maritime Affairs and LX established and operated the “Overseas Help Center” to support small to medium-enterprises (SMEs) in the field of spatial information and received 200 million won ($176,260) funding from the Large, Small and Medium Enterprises Agriculture and Fisheries Cooperation Foundation.

As a result, LX led 50 private companies to enter overseas markets last year, creating 294 jobs and generating 29.1 billion won in sales.

“By providing various cadastral surveys and spatial data, we hope to add social value for the public,” Choi Chang-hak, CEO of LX, said.

Founded in 1977, LX earned its current name in 2015 and is now headquartered in Jeonju.