The long-awaited vote on the establishment of a national carbon market in South Korea, the world's 12th largest economy, finally passed last Wednesday. 148 out of 151 lawmakers voted for the new emissions trading scheme (ETS), which is part of a larger effort by the South Korean government to reduce it's emissions 30% by 2020. The ETS is due to start in January of 2015. The vote makes South Korea the third country in the Pacific rim to establish a national carbon market, joining Australia and New Zealand, and raising the potential for collaboration between countries. In the meantime, our partners at WWF have welcomed the news, and are calling on the EU to fix it's troubled carbon trading scheme.