Yeoju City Signs Consignment Management Contract for Public Property with Korea Land & Geospatial Informatix Corporation (LX)

[Suwon Ilbo=Reporter Um In-yong] Yeoju City announced on March 1st that it has signed a consignment management contract for public property (general property) with Korea Land & Geospatial Informatix Corporation (LX) and will formally implement consignment management beginning March 30th.

This consignment management initiative targets 729 parcels of general public land (approximately 2.01 million ㎡) owned by the city and aims to transition from the existing individual and dispersed management approach to an integrated and systematic management system based on professional expertise.

Korea Land & Geospatial Informatix Corporation, selected as the consignee, will perform comprehensive management operations including property condition surveys, land surveying, management of lease contracts, imposition and collection of compensation fees, and discovery of undisclosed properties, drawing on its expertise in the geospatial information sector.

In particular, the city plans to establish a "three-dimensional property management system" by utilizing the spatial information-based asset management system possessed by Korea Land & Geospatial Informatix Corporation to comprehensively manage land conditions, usage status, and management history. Throughout this process, a foundation will also be established to organically link external systems such as real estate official records and registration information with internal systems based on cadastral and geospatial information, enabling integrated management and analysis of dispersed information through a single platform.

Through consignment management, the city plans to more accurately grasp property conditions, enhance management efficiency, and strengthen ongoing inspections against unauthorized occupation and illegal use as well as restoration measures. Furthermore, the city plans to actively utilize idle properties and organize and sell unnecessary properties in cooperation with Korea Land & Geospatial Informatix Corporation, implementing a public property management system that citizens can directly experience.

Meanwhile, major policy decisions and implementation regarding disposal of public property such as sales and exchanges will continue to be directly performed by Yeoju City as before, maintaining public nature and accountability.

This consignment management will be operated in a manner that ensures both accountability and efficiency through inspection and settlement of work performance results. The city will commence the project by transferring consigned properties and providing basic data, and the consignee, Korea Land & Geospatial Informatix Corporation, will perform management operations based on this foundation. Thereafter, through annual settlement and performance evaluation, the city plans to manage public property more effectively.

Min Sun-ju, Director of the Accounting Division, stated, "We anticipate that the introduction of a professional management system based on geospatial information will significantly enhance the accuracy and efficiency of public property management," and added, "Going forward, we plan to increase the value of citizens' property through systematic and transparent asset management."