SEOUL, South Korea - The Korea Land and Geospatial Informatix Corporation (LX Corporation), under the leadership of CEO Eom Myeong-so, has been selected for the "Korea International Cooperation Agency (KOICA) 2024 Public Cooperation Project Integrated Call for Proposals." This selection will allow LX Corporation to proceed with the modernization of Mongolia's address information system.

The project was initiated by the Mongolian government, which recognized the need for an efficient road name address system due to the diverse living spaces in Mongolia, including urban, rural, and nomadic areas, as well as the overpopulation of the capital city, Ulaanbaatar.

After reviewing cases from various developed countries, including South Korea, the Mongolian government ultimately decided to adopt the Korean address system. LX Corporation will undertake the following tasks over a period of 3 years and 10 months:

Address Information System Advancement: Upgrade the existing address information system.
Address Information Database Construction: Build a comprehensive address information database.
Ger Area Unauthorized Occupancy Survey: Investigate the status of unauthorized occupancy in Ger areas.
Road Navigation Public Service System Construction: Establish a public service system for road navigation.
Capacity Building Education: Provide training to enhance the capacity of Mongolian personnel.
The proposed budget for this project is approximately 11 billion Korean won.

The project is expected to be finalized after a review of the Ministry of Foreign Affairs' implementation plan in the first half of the year and budget deliberation in the second half of the year by the "Grant Aid for Development Cooperation Agencies Council."

CEO Eom Myeong-so stated, "Through this public cooperation project, we aim to successfully disseminate Korea's excellent K-address system to Mongolia, thereby branding K-addresses and achieving the goal of expanding to various countries."

This project is a significant step towards modernizing Mongolia's address system and is expected to improve the efficiency of various public services.

[ⓒ Global Economic Times. 무단전재-재배포 금지]