LX Name Controversy Resolved... LG and Korea Land and Geospatial Informatix Corporation Agree to Joint Use of Name

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[Asia Economy Reporter Jeong Hyunjin] LG and Korea Land and Geospatial Informatix Corporation (LX) have announced on the 30th that they have reached a broad agreement to jointly use the LX name, resolving the conflict over the LX brand. This agreement was made just one day before the launch of LX Holdings, which is being separated from LG.

On the same day, LG announced that both companies agreed on mutually developing the LX brand by jointly using it and will continue practical negotiations. The two companies conducted negotiations up to that day, exchanged win-win cooperation plans, and reached a broad agreement. This comes two months after Korea Land and Geospatial Informatix Corporation expressed opposition to LG’s use of the LX brand.

Adviser Koo Bon-joon’s newly established company LX Holdings (comprising LG International, LG Hausys, Silicon Works, LG MMA), which is separating from LG, will officially launch on the 1st of next month. LX Holdings is established by separating four subsidiaries. After news broke last month that the new LG holding company’s name was finalized as LX Holdings, Korea Land and Geospatial Informatix Corporation strongly opposed and filed a complaint against LG with the Fair Trade Commission on the 14th for unfair trade practices.

The current win-win cooperation plan mainly includes measures to prevent confusion between the two companies’ businesses externally by distinguishing trademark usage and prohibiting trademark use in similar business fields. It also includes public-private win-win measures such as discovering and promoting cooperative projects between LX Holdings’ subsidiaries and Korea Land and Geospatial Informatix Corporation, and mutual cooperation for the development of the spatial information industry.

An LG official said, "This win-win cooperation plan includes many issues related to realizing social value and balanced regional development," adding, "It is the result of both companies coming together beyond the dispute over the name and trademark use to become a representative model case of public-private win-win cooperation."

LG stated that after the official launch of the new holding company LX Holdings, it plans to negotiate detailed cooperation matters with Korea Land and Geospatial Informatix Corporation. LX explained that additional discussion topics include ▲ clear distinction in the use of LG holding company trademarks ▲ protection of the LX domain ▲ prohibition of LX trademark use in similar business fields by the LG holding company ▲ discovery of mutual cooperative projects ▲ discovery of projects for realizing social value and balanced regional development ▲ mutual cooperation for the development of the spatial information industry.

An LG official said, "We are making great efforts to broaden mutual understanding through dialogue and consultation," adding, "We hope to conclude the name dispute and finish with good results in public-private cooperation."

Lee Jong-rak, head of LX Public Relations, said, "Since both companies have come together for win-win cooperation with the new LG holding company, we look forward to a meeting between the CEOs of both companies soon," adding, "We hope that both companies will actively cooperate for future negotiation plans so that the LX name dispute can be resolved amicably."

This content was produced with the assistance of AI translation services.