STX Energy signed an agreement to collaborate in building two coal-fired power plants with the Korea East-West Power Co. on Thursday.Under the agreement, the companies will build two 500 megawatt power plants in Donghae, Gangwon Province with an estimated cost of 2 trillion won ($1.78 billion). The first of the two plants is scheduled to go into operation in December 2014, while the second plant i

Asiana Airlines, the country’s No. 2 air carrier, said on Thursday that it sealed a deal with Airbus to introduce six A380-800 planes by 2017.Starting from 2014, Asiana Airlines will bring in European manufacturer Airbus’ upgraded and environmentally friendly airplane which is planned to be used for long-term routes to the Americas and Europe. A380-800 airplane (Asiana Airlines)“The introduction o

Korea Electric Power Corp. CEO Kim Ssang-soo pledged to boost the firm’s overseas sales to $26 billion by 2020 by improving the profitability and efficiency of its nuclear power and “green” businesses, the firm said Thursday.“We must carry out the construction of nuclear power plants in the United Arab Emirates as planned and win another nuclear reactor contract from abroad this year,” Kim said in

Hyundai Motor to invest W12tr, Hynix W3.4tr following Samsung’s W43trThe country’s large firms are unveiling their big investment plans for this year, hinting that many of them will take a more aggressive stance in expectation of a recovery in global demand.This week, a number of big firms and conglomerates, such as Hyundai Motor Group, LG, Samsung and Hynix Semiconductor, announced their larger i

LOS ANGELES ― Maybe 2011 is the year a clean start means returning to Grandma’s scrubbing ways and getting down on hands knees with simple baking soda and vinegar. Or maybe it means staring down that supermarket aisle of cleaning products and making better choices about the dizzying selection of powders and liquids that claim not only to clean but also to be healthy for people and the planet. Sust

TOKYO ― Mesmerized by China’s vast military buildup, a new constellation of strategic partnerships among its neighbors, and America’s revitalized commitment to Asian security, many shrewd observers suggest that 2010 saw the first sparks of a new Cold War in Asia. But is “Cold War II” really inevitable?Although appeasing China’s drive for hegemony in Asia is unthinkable, every realistic effort must

The world has recovered remarkably quickly from the financial crisis. But growth is now on two tracks: developed economies still struggling with fiscal, financial and structural problems, while emerging economies, especially in Asia, are growing robustly. The resulting global imbalances have created international tensions. The Group of 20 has emerged as a forum to tackle these issues. It was espec