Hyundai and Kia’s combined sales to hit 100 million unit milestone this month

Untitled-62.jpgCombined sales of Hyundai Motor Group including Hyundai Motor Co. and its sister company Kia Motors Corp. are expected to hit a milestone of 100 million units this month.
According to Hyundai Motor Group on Monday, Hyundai Motor has sold 64.02 million units as of the end of March while Kia Motors has sold 35.68 million units since launching their car sale. The country’s largest auto group expects the cumulative total sales of both automakers to reach the 100 million mark in 54 years since Kia Motors started selling cars in 1962, the fastest among global car makers. It took General Motors Co. 59 years to reach the same sales milestone in 1968 while 61 years for Toyota Motor Corp. 61 years in 1997.
According to the conglomerate, Hyundai Motor’s Avante sedan was the best-selling vehicle during the past 54 years with its sales volume reaching 11.19 million units, followed by the Accent with 8.24 million units and the Sonata with 7.83 million units. It also said that when 100 million units of the Avante are lined up, it would be 457,000 kilometers long, which is 11.4 times the circumference of the Earth.

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< Source: KITA>

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S. Korea’s oil refiners expected to record $1.7 bn in operating profit for Q1

South Korea’s four leading oil refiners SK Innovation Co., S-Oil Corp., GS Caltex Corp. and Hyundai Oilbank Co. are expected to post a combined operating income of around 2 trillion won ($1.7 billion) for the first three months this year thanks to high cracking margins and increasing oil import from Iran.
According to oil refinery industry on Sunday, combined operating profit for SK Innovation, S-Oil, GS Caltex and Hyundai Oilbank is expected to reach between 1.9 trillion won and 2 trillion won in the first quarter ended March this year. This is a more than twofold jump from their combined operating income of 960.1 billion won a year ago and the first time to reach the 2 trillion mark since the first quarter in 2012 with 2.2 trillion won.
According to the market consensus, SK Innovation is forecast to report 700 billion won in operating income, more than double from the previous year, while GS Caltex and S-Oil are projected to post 520 billion and 500 billion won, up 74 percent and 110 percent on-year, respectively.

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Hyundai Oilbank is also expected to rake in around 200 billion won in operating profit in the first quarter this year. Such stellar performance of the local oil refiners is attributed to improvement in the refining margin as supply of refined products remains lower than demand. The cracking margin, or the difference between global oil price and the petroleum products, has remained in the top range.
The crude oil shipment from Iran is also adding benefits for the local refiners. A total of 8.81 million barrels of crude oil from Iran where international sanctions against the Middle Eastern country was lifted recently was imported into Korea in February. This is a similar level to 7.26 million barrels in 2011, or before the economic sanctions, and about five times from 1.77 million barrels in December last year.
The price of oil from Iran is generally lower than international oil prices. Currently, SK Innovation and Hyundai Oilbank, among the four major Korean refiners, are importing crude oil from Iran.

< Source: KITA>

 

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Hyundai Motor and Cisco join hands to develop future connected car technology

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South Korea’s largest automaker Hyundai Motor Co. will join hands with Cisco Systems Inc., a California-based leading information technology (IT) and networking equipment supplier, to speed up development of its connected car technology.
According to the company, Hyundai Motor Vice Chairman Chung Euisun and Chuck Robbins, Cisco’s CEO, on recently met at Hyundai Motor’s headquarters in Yangjae-dong where they agreed to co-develop connected cars, via in-vehicle network technology that optimizes transferring bigger volume of data at a faster pace. The technology is essential for the upcoming era of a connected car that requires transmission of a large volume of data.
“Hyundai Motor will provide new values that go beyond our customers’ expectations in safety, quality and security through cooperating with Cisco. This collaboration will be a chance to bring closer the Hyundai Motor-led future of connected cars and shift paradigms of new mobility,” said Chung.

Cisco CEO Robbins also said, “Digital disruption into the automotive industry is being driven by technologies that are creating new user experiences; and our leadership in the areas of connected vehicles, security, and large-scale communication technologies will be crucial to establishing an industry-leading platform.”
The two companies will also work together on a connected car simulation project and allow Korean startups to join them to create the connected car ecosystem. They will jointly conduct studies to analyze the data flow in various different cases to come up with best technologies for future cars.
Hyundai Motor recently set forth its roadmap to develop connected cars, with “Hyper-connected Intelligent Cars” concept – which aims to connect cars to everyday lives.
The South Korean auto giant seeks to pursue four main goals – smart remote maintenance service, autonomous driving, smart traffic and connectivity mobility hub – along the way, as its connected car is gradually brought to life.

< Source: KITA>

 

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Korea National Arboretum

Untitled-64.jpgThe Korea National Arboretum is situated in Gwangneung forest and contains the Forest Museum where all the information on forestry is exhibited. The construction of the arboretum and museum took place on October 25, 1985 and opened on April 5, 1987. In order to preserve the forests, weekends and holiday entrance were restricted, reservations were required 5 days in advance, and no more than 5,000 visitors were accepted per day. Korea National Arboretum covers an area of 1,157ha and contains 15 specialized forests, including Conifer Garden, the Garden of Ornamental Trees, and the Aroma and Touch Garden. The Forest Museum is the largest in Asia, covering 4628 sq.m² with a traditional Korean design, and the interior and exterior are both constructed of wood and stone. The arboretum facilities consist of 5 exhibition halls (Living Forest, Forest and Man, Forestry of the World, Forestry of Korea, Nature of Korea), a Herbarium, a Special Exhibition Room, and an Audio Visual Hall.

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Hongneung Arboretum

Untitled-67.jpgHongneung Arboretum is a first generation arboretum in Korea. It was established in 1922 when experimental forests were built on Hongneung burial mound, which is the royal tomb of Queen Myeong-Seong. On the 780 square meters area southwest of Mt. Cheonjangsang, there are 9 gardens such as a garden of conifers, a garden of broadleaf trees and an ornamental garden, 3 botanical gardens with edible & medicinal plants garden, an aquatic garden and a wetland garden. There are 6 resting places as well.
Hongneung Arboretum has beautiful scenery for every season. The garden of broadleaf trees behind the main building is the one that shows the change of season most dramatically. The hundreds of broadleaf trees appear their best in autumn. The arboretum is good for nature education walk because of the many nameplates offering information on the species and characteristics of each tree. There are also many things to see at the Forest Science Exhibition Hall which provides visitors with knowledge and information of the value of forests, forestry, and the forest industry. The building itself is an exhibition because the hall is made of Korean wood. Inside, there are three general exhibition rooms, a regular exhibit hall, a planning exhibit hall, and a special exhibit hall.

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Cheollipo Arboretum

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Cheollipo Arboretum located in Taean Coast National Marine Park was built in 1966 by C. Ferris Miller. The park currently contains approximately 14,000 different plant species, including some rare and endangered species.
[Suggestion: Officially recognized by the International Society of Arboriculture, the arboretum is one of the most beautiful in Korea.
This arboretum consists of 7 areas (ex: Main Garden, Dakseom Island, Sea Dune Area, etc.) on a 595,044m² (180,000 pyeong) of land. Almost 7,000 different species have been collected for nearly 3 decades. The arboretum also enjoys a coastal climate, and can sustain a variety of plant species from subarctic to subtropical environments. Tours are available throughout the year.
The value of Magnolia kobus (1,800 plants in 450 species) and Ilex cornuta (400 species) received international recognition during the hosting of the World Magnolia kobus Seminar in 1997 and World Ilex cornuta Seminar in 1998. Additionally, thanks to the balanced and healthy ecosystem, a variety of birds (nearly 60 species per year) and insects also make their homes in this arboretum.

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Juknokwon

Untitled-73.jpgJuknokwon in Damyang is a bamboo forest cultivated by the town of Damyang. Seonginsan Mountain behind Damyang Hyanggyo (Confucian school) was transformed into Juknokwon Bamboo Garden featuring a beautiful artificial waterfall, pavilion, walking paths and an eco-exhibition center, a popular destination for visitors.
It takes about 1 hour to tour around the entire garden. Crossing Hyanggyo Bridge from Juknokwon, a forest for preventing floods can be seen. Lights are turned on in the evenings in the bamboo forest for night walk.
As one of popular tourist attractions in South Korea, Juknokwon has more than 1.5 million visitors annually. In 2012, the CNN picked up it as one of the 50 places that visitors to Korea must go to in South Korea.

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Damyang Bamboo Festival

Located within a forest of 2.4 kilometers of bamboo, this festival is full of activities celebrating the beauty and function of the bamboo plant. More active visitors can test their skills during some of the festival’s scheduled river sports, such as ‘Log Rafting’ and ‘Water Bicycling’. After working up an appetite, visitors can please their palate with some of Damyang’s famous cuisines and other world foods featured at the Cultural Experience Center. For additional sightseeing opportunities, visit some of the other attractions in the area, such as the Damyang Soswaewon, Damyang Gwanbangjerim, Damyang Jungnogwon, Metasequoia, and more.

Programs: Bamboo Fair, Bamboo Musical Instrument Performance Contest, Bamboo-Cutting Sword Championship, Writing & Painting Competition, Making Daetongsul (a bamboo bottled traditional liquor), Riding a Bamboo Raft, Fishing with Bamboo Basket.

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Period: May

Venue: Juknokwon (Bamboo Garden) area

Tel: 1330 Travel Hotline: +82-2-1330 (Korean, English, Japanese, Chinese)

Website: www.bamboofestival.co.kr (Korean, English, Japanese, Chinese)

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YeonDeung Hoe ‘Lotus Lantern Festival’

The Lotus Lantern Festival is held every year on April 8th (lunar calendar) in honor of Buddha’s Birth. The festival is preceded by hanging of lotus-shaped lanterns across Seoul for several weeks, and officially kicks off with lighting of the Jangeumdang, a large lantern that symbolizes Buddhism and Buddha’s Birthday, at the Seoul Plaza. The celebration continues with a wide array of Buddhist programs and activities, before ending with an impressive lantern parade in the heart of Seoul.

The month-long Lotus lantern Festival will pack its most highlighted events into three days on May 15~17 there are hands-on experiential programs and performances to sing and dance along with, as well as parades and exhibitions to see. Most programs are family-oriented, so bring your families and loved ones and immerse yourselves in the festival’s spiritual ambience and energetic togetherness which you won’t be able to experience anywhere else. More than one hundred thousand lotus lanterns will light up the Seoul night. The majestic parade of lanterns in unimaginable shapes and colors will bring the hearts of both participants and spectators together as on.

Period: May 5- May 8, 2016

Venue: Jogyesa Temple, Bongeunsa Temple and along Cheonggyecheon stream

Telephone: 1330 Travel Hotline: +82-2-1330 (Korean, English, Japanese, Chinese) For more info: +82-2-2011-1774~7 (Korean)

Website: http://www.llf.or.kr

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Boseong Green Tea Festival

Boseong is considered the birthplace of the commercial tea industry and is the largest producer of tea in the country. At the Boseong Green Tea Festival, some of the most popular festival events (most of which are held out in the green tea fields) are the hands-on experience programs such as picking tea leaves, making tea, and sampling green tea snacks. Other events such as the tea exhibition & sale, and a number of celebratory performances are also scheduled to be held during the festival period.

Programs includes Tea Art Festival, Hanbok Fashion Show, Tea Ceremony Performance, Hands-on Experience Programs (Picking tea leaves, tea making, tea bowl making, tea food making, green tea beauty & health experience, green tea rice cake making, etc.) as well as Boseong Tea exhibition & sale.

Period: May

Venue: Korea Tea Culture Park and around Boseong Tea Plantatino

Website: dahyang.boseong.go.kr (Korean only)

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