Bloomberg: In a little over 18 months, South Korea will launch a scheme that will cap around 70% of its greenhouse gas emissions. A White Paper published today by research firm Bloomberg New Energy Finance, in cooperation with Ernst & Young, concludes that the design is the most ambitious yet proposed anywhere, and could result in the Korean carbon price reaching the penalty level of $90/tCO2 exceeding that in any other emissions trading system (ETS) in the world. The predicted high prices in the Korean...