Lucent Block, which operates the fragmented investment exchange ' Soyou ', announced on the 4th that it won the Korea Intelligence Information Society Promotion Agency President's Award (Encouragement Award) at the 13th Pan-Government Public Data Utilization Startup Competition hosted by the Ministry of the Interior and Safety and organized by the Korea Intelligence Information Society Promotion Agency.
The government-wide public data startup competition, designed to foster public data-based startups, was held this year under the theme "Synergy between AI and public data, unlocking innovation." The competition focused on product and service development and idea planning. A total of 3,856 teams participated, with LucentBlock winning the product and service development category for its proposed analytical model that combines public data with proprietary AI technology to address the commercial real estate vacancy problem.
Lucent Block developed an AI model that precisely predicts the actual value of commercial districts by combining internal information such as real estate valuation data, user behavior data, and investment patterns accumulated during the operation of the 'Own' platform with public data such as actual transaction prices from the Ministry of Land, Infrastructure and Transport, vacancy rates and rental trends from the Korea Real Estate Board, commercial district information from the Small and Medium Business Corporation, and regional economic data from Statistics Korea.
This model utilizes machine learning analysis and spatiotemporal graph modeling to infer factors contributing to undervaluation and vacancy in commercial properties, and even identifies optimal rental industries, enhancing prediction accuracy. Furthermore, it proposes a virtuous cycle where selected undervalued properties are issued as Securities Token Offerings (STOs) to provide investors with benefits based on local commercial districts, simultaneously fostering new customer inflow and revitalizing the commercial district.
Lucent Block contributed to increasing sales in the commercial district by providing vouchers to local stores in the 2022 Daejeon Eoeun-dong '3rd Daejeon Startup Space' contest, and in the 2024 '11th Daejeon Hana Startup Park' contest, it collaborated with Daejeon City, Hana Bank, and the Creative Economy Innovation Center to apply a structure in which the contest profits and benefits are returned to the local community.
Heo Se-young, CEO of Lucent Block, said, "This award recognizes the potential of public data to address structural issues in the local economy. We will continue to contribute to revitalizing the local economy and expanding financial inclusion by enhancing our services."
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