WinCL Secures Seed Investment from 500Global for Carbon Credit Solutions
WinCL, a South Korean company specializing in voluntary carbon credit solutions, has successfully secured seed investment from 500 Global. Founded in June 2022 by Park Sung-hoon, previously responsible for new services and blockchain projects at Samsung Electronics, Oh Dae-gyun, a Seoul National University professor and member of the UN Framework Convention on Climate Change supervisory body, and Kim Joo-wan, a former McKinsey partner and executive at Samsung Electronics, WinCL is acclaimed for its capability to acquire high-quality voluntary carbon credits. These credits are certified by leading global carbon registries such as Verra and Gold Standard, sourced from carbon reduction projects worldwide.
In the past year, the company has made notable achievements in the voluntary carbon market. It supported carbon offset campaigns for employees of major domestic corporations including NHN and HLB, and also facilitated the sale of 2,400 tons of carbon credits by linking them with game avatars from NHN Hangame, showcasing tangible success in the market. Currently, WinCL operates a marketplace that enables both corporations and individuals to participate in the voluntary carbon market, collaborating with various partners like BESPIN GLOBAL. This partnership aims to provide a comprehensive service that allows companies to measure and manage their carbon emissions effectively, thereby enhancing their ESG competitiveness.
Particularly noteworthy is WinCL’s recent efforts in securing voluntary and leading carbon credits through collaborations with international carbon reduction project developers and operators. These efforts are based on nature-based solutions (NBS), offering a range of carbon reduction options that meet the diverse needs of domestic companies for emission rights.
Shin Eun-hye, an investment analyst at 500 Global overseeing this investment, commented, “WinCL possesses the competitive edge to supply companies with high-quality carbon credits that align with global standards, including SBTi. With its custom services tailored to corporate demands, such as data-driven carbon emission monitoring that encompasses up to Scope 3, WinCL is expected to play a pioneering role in the market. This includes encouraging individual participation in the voluntary carbon credit market, securing a wide range of customers.”
Park Sung-hoon, CEO of WinCL, shared his vision, “As the global regulatory environment on carbon and corporate ESG disclosure obligations become more stringent, we hope that WinCL’s services will enable small and medium-sized enterprises, which often struggle to develop ESG capabilities, to effectively navigate these regulations and enhance their sustainability.”
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