Korea Association of Real Estate Investment Trusts, LX Join Forces to Boost Geospatial Information-Based REIT Investment

[Financial News] The Korea Association of Real Estate Investment Trusts and LX will cooperate to identify REIT investment and development opportunities using geospatial information.
The Korea Association of Real Estate Investment Trusts and LX announced on the 30th that they had signed a memorandum of understanding at the association's seminar room in Yeongdeungpo District, Seoul, to establish a framework for mutual cooperation. The agreement aims to facilitate REIT projects and promote technical cooperation in cadastral surveying and geospatial information.
The two organizations will identify assets suitable for REIT investment and development based on geospatial information and pursue their commercialization. They also agreed to support land administration work, including cadastral surveying and geospatial information services needed for development-type REIT projects.
They also plan to jointly identify and promote REIT models that use state and public property as well as idle sites. In addition, they will expand training, technology exchanges and joint research in the geospatial information sector.
Jeong Byeong-yun, chairman of the Korea Association of Real Estate Investment Trusts, said, "A foundation has been laid to enhance asset value by linking real estate REITs with land information." He added, "We will work to identify sustainable areas of cooperation so that the two organizations can contribute to revitalizing the REIT industry."
Eo Myeong-so, president of LX, said, "Through this agreement, we will improve the efficiency of REIT projects and, further, contribute to enhancing the value of public and private real estate assets."
[email protected] Choi Ga-young Reporter