Dream Security provides best-in-class cybersecurity solutions for the financial, broadcasting, and autonomous driving sectors

South Korea has a rich history in the high-tech industry and is home to some of the world’s most innovative companies. However, the nation’s ICT industry has primarily focused on meeting domestic demand, which today accounts for approximately 80% of its revenue. This heavy reliance on the domestic market—representing just 1% of the global ICT landscape—poses a challenge to corporate growth and expansion. To thrive internationally, South Korean enterprises must establish a strong global presence. Do you believe this is the right moment for Korean SMEs to expand abroad?

Many Korean companies are eager and passionate about expanding into global markets. However, two main barriers have historically hindered our entry into the international arena.

The first challenge has been technological limitations, particularly the absence of a strong platform. Without a platform, it was difficult to launch and scale our solutions globally. The second major obstacle was the language barrier. Korean is vastly different from other foreign languages, and even though we developed excellent solutions in Korean, we struggled to expand internationally because our services were not available in foreign languages, or global marketing was insufficient. This issue significantly restricted our global reach.

Another critical factor was the strong demand for IT solutions within Korea. Many companies saw little need to expand beyond the domestic market, as they were already experiencing significant growth locally. This was the reality for many years.

However, the situation has changed. Today, we have access to cloud-based platforms that facilitate global expansion. These platforms enable us to introduce a variety of services to international markets more efficiently. Additionally, language is no longer a major barrier, thanks to advanced translation services. Whether for English-speaking markets, the Middle East, or Southeast Asia, we now have tools that allow us to seamlessly translate and localize our services.

With Korean companies’ strong drive, the availability of global platforms, and the diminishing impact of language barriers, more and more SMEs are finding success in overseas markets.

On the global stage, your company and yourself will be competing against powerhouses such as the US, China, and India. How do you plan to compete with these giants, and what will be your key drivers for securing market share?

Before discussing specific strategies, I would first like to highlight our core strengths. Recently, a Chinese company launched DeepSeek, which is well known for its cost-effectiveness. While Korea may lack original technological patents, we excel at utilizing existing technologies to develop high-value applied solutions. Developing original technology requires extensive resources and investment, which is often a challenge for SMEs. However, our ability to refine and adapt these technologies into innovative applications sets us apart.

DeepSeek is a prime example of this approach. It leverages existing AI-driven technology and optimization to target specialized markets. This ability to penetrate niche markets is a major advantage, particularly in the field of cybersecurity.

Effectively utilizing these strengths is crucial for competing with global giants. First, we excel at identifying and targeting niche markets, allowing us to operate in areas that are often overlooked by global giants. Second, we offer highly customized solutions tailored to the specific needs of our clients. Cybersecurity is an ongoing battle, and the expertise we have accumulated over the years plays a crucial role in delivering top-tier security solutions. These two competitive advantages—strategic niche market penetration and tailored cybersecurity solutions—set us apart from the competition and give us the leverage to compete effectively on the global stage.

Since we are a software company, I would also like to touch on the broader software industry. In the security software sector, no company can operate in isolation. Collaboration with other businesses and industries is essential. For example, in the case of internet banking, security solutions must integrate seamlessly with banking systems to provide comprehensive protection. Similarly, we collaborate with major industry players such as Samsung and LG, which serve as key platforms for our services. Through these strategic partnerships, we build strong relationships and expand our market presence. This is one of our core strategies for securing a foothold in the global market.

One great example of this is how you leverage the growth of IoT systems. On one hand, you have developed a comprehensive solution by offering Dream Matter certification services and providing more than just cybersecurity to your clients. On the other hand, you benefit from the expansion of the international market, with the US alone accounting for 33% of the IoT sector. Could you elaborate on the potential you see in IoT certification and the IoT market? What led you to pursue this direction based on your technological expertise and resources?

When we look around the world, there are hardly any households without a TV. With the continuous advancement of smartphones, the number of connected devices will only increase. In the near future, we will see AI-powered robots, AI pets, and other smart home devices becoming an integral part of daily life. In Korea, for instance, pet ownership is very common, but some individuals face challenges such as allergies or maintenance responsibilities. With advancements in AI, virtual pets like AI cats and dogs can offer the companionship of real pets while complementing the associated drawbacks.

Currently, many devices operate independently. However, in the future, these devices will be interconnected in a highly integrated ecosystem. With the proliferation of interconnected devices, the importance of security will be greater than ever, which is why we decided to enter this sector. As IoT continues to evolve, ensuring the security of these connected systems will be critical, and we aim to lead in this space.

You have made significant efforts to provide Matter certification services. Do you see this as an immediate necessity for your clients, or is it more of a long-term investment?

Matter is already being applied today, but the market potential for the future is even more promising. To provide a historical perspective, Korea introduced internet banking in the early 2000s. Although the United States pioneered the development of such technology, Korea has since surpassed it in efficiency. For example, in Korea, transferring 100 million KRW via smartphone takes less than three seconds, whereas in the U.S., a similar transaction could take up to three days. Many doubted the feasibility of such advancements in the early 2000s, but with robust security measures, Korea made it possible.

Dream Matter Certification Service

Currently, household appliances and devices operate separately. However, many consumers want to control various aspects of their homes—such as lighting, wall pads, heating, or air conditioning—through a single smartphone interface. When errors occur on the smartphone, security becomes a major concern. For instance, personal information must remain private, yet hackers continually find ways to penetrate security systems. This is a pressing issue that we must address, making security a crucial factor for the future.

Many people today use a Samsung TV, an LG refrigerator, and a Huawei vacuum cleaner, each controlled through different applications. However, in the future, there will be an increasing demand to consolidate these controls into a unified system. As the demand for seamless connectivity grows, Matter certification will play a vital role in ensuring interoperability and security. While Matter is already in use today, we foresee an even greater need for its expansion in the coming years.

In the short term, are you focusing your R&D investments and efforts on direct collaborations with conglomerates like Samsung and LG for IoT devices? Or do you also aim to collaborate with U.S. companies that have a broad range of IoT devices, or even Chinese firms?

While I cannot disclose everything, I can confirm that we are actively cooperating with major players in Korea. In the U.S., we are collaborating with several chip manufacturers. At the moment, we are not working with Chinese companies, but we are maintaining ongoing discussions and meetings with many of them. However, in the near future, we anticipate increased collaboration with a broader range of companies. Korean devices are widely used across the globe, and many international firms seek partnerships with Korean companies. Given this trend, we believe that our global cooperation will expand significantly.

Korea Rental global office map

Interestingly, we did not initially anticipate this, but Sam Altman recently visited Korea to meet with major Korean companies such as Samsung and LG. We take great pride in the fact that global players are showing strong interest in collaborating with Korean firms. We firmly believe that this trend will extend to security software as well. Looking ahead, we remain highly optimistic about our strategic direction.

You mentioned that in the US, you are collaborating with chip manufacturers. Among your portfolio, you offer various UI solutions, such as UI interaction solutions. However, chip manufacturers typically focus on embedding cybersecurity solutions directly at the hardware level. Can you elaborate on your reasoning for directly working with chip manufacturers in the IoT environment?

Today, the key functions and security of Matter are integrated directly into the chip as a unified process. This approach ensures a higher level of security from the ground up, and helps device manufacturers implement matter features more easily.

Given this, it is far more effective for us to engage directly with chip manufacturers rather than with end users. By working closely with chip companies, we can implement cybersecurity at the foundational level, ensuring robust protection for IoT devices right from the start.

Established in 1998, Dream Security laid the foundation for the information security industry by developing Korea’s first PKI security solution. The company has continually integrated new technologies such as blockchain and quantum cryptography and has played a pivotal role in developing the Korea Intelligence Service-verified cryptographic module (KCMVP). What is your vision for Dream Security? In what direction do you intend to guide the company?

Dream Security is not yet a group, but I’d like to share our vision. Our name itself encapsulates our ambition—‘Dream’ and ‘Security.’ The concept of a dream is abstract and aspirational, representing the passion and ambition that drive us. However, to turn dreams into reality, a foundation of scientific rationality and security is essential. By merging the passion of dreams with the precision of security, we aim to create a future where both coexist seamlessly.

Our broader vision recognizes that technology has evolved rapidly—from PCs to mobile phones, smartphones, AI devices, and mobility solutions. As devices continue to advance, so do cryptographic algorithms and security systems. The increasing complexity of technology means that customer demands are also diversifying. As a company, we strive to meet these evolving needs. Another major goal is to create synergy between software, hardware, and content, as we believe this convergence is key to the future of security solutions.

When I first became CEO, my focus was solely on software. However, I soon realized that the integration of software with hardware unlocks new possibilities. Content is another critical component, which is why we acquired DigiCAP. The combined capabilities of Dream Security, DigiCAP, and Korea Rental demonstrate how software, hardware, and content can merge to create a powerful force in the AI era.

As AI continues to develop, the fusion of software, hardware, and content will become even more integral. More people will seek seamless interactions between these elements, and our goal is to provide solutions that enable this integration for our customers.

The concept of synergizing hardware, software, and content is fascinating, and you mentioned all the subsidiaries involved. The acquisition of Korea Rental in 2019 significantly boosted Dream Security’s revenue. Could you explain the rationale behind acquiring Korea Rental and the key drivers of this impressive growth?

The rental business model involves purchasing products and leasing them to customers through a subscription service. Back in 2012, our company faced a major challenge—once we sold our products, the next year’s sales would start from zero. We had to reset the software and sell it again each year. This prompted us to explore alternative business models, leading us to consider subscription-based services. While SaaS (Software as a Service) is widely accepted today, it was not well understood at the time. We sought to offer our software solutions through a subscription model.

Looking ahead, we anticipate that consumers will increasingly prioritize experiences over ownership. Instead of making large one-time payments for products, more people will opt for monthly subscription plans based on their perceived value of the product. We believe that software will follow this trend toward subscription-based services. This is precisely why we acquired Korea Rental—because of its extensive experience and expertise in the rental industry.

Korea Rental has been in business for 40 years and excels in understanding customer needs while maintaining strong financial capital. Transitioning a company to a subscription model is challenging, especially in the early stages, as it requires substantial financial resources. For example, a traditional one-time payment model might generate $1,000 per customer upfront, whereas a subscription model spreads revenue over time, leading to an initial decline in cash flow. Many companies struggle with this transition due to a lack of capital. However, Korea Rental’s financial strength provided us with the necessary foundation to successfully implement this model. By combining technology, financial resources, and service expertise, we are confident that we can deliver innovative subscription-based security solutions to our customers.

Your business model is fascinating and appears highly sustainable. You mentioned your ambition to expand internationally and the importance of the platform and technology you have developed through R&D. Today, not only do you have the platform, but you also have the sales channels. For potential international clients and opportunities, should they view Dream Security as a rental company through Korea Rental, or is Dream Security the primary face of the company?

It depends on the case and situation. The current market trend favors service-based models, and we believe we should align with this direction. For instance, companies like Google, Amazon, and Netflix have strong technological foundations but also significant capital resources. Depending on the focus, they choose whether to emphasize technology or capital. In our case, if we want to highlight our financial strength, we position Korea Rental at the forefront. If we want to emphasize our technological capabilities, we showcase Dream Security. Our approach varies based on the specific needs of our clients and the market conditions.

Your business model is centered on a variety of security solutions, including digital certificates, authentication, quantum and blockchain encryption, and multi-factor authentication. These solutions serve both public and private sectors. Could you highlight a few solutions that hold the greatest market potential that attract most of your clients?

Our two primary solution areas are encryption and electronic signatures. The encryption sector is particularly strong in Korea, especially in database encryption, which is one of our most in-demand solutions. On the electronic signature side, our PKI (Public Key Infrastructure) solution is widely adopted. We leverage this technology to enhance security across various applications.

Additionally, we are currently developing services for ADAS Solutions. We also see significant growth potential in the biometric authentication sector and IoT security solutions. Furthermore, in collaboration with our subsidiaries, we are developing national defense solutions, a market segment we expect to gain substantial traction in the near future.

Regarding ADAS Solutions, as autonomous driving technology advances, network security will become increasingly critical. Certification and cybersecurity will be essential not only in the US, but worldwide. We aim to capitalize on this need by integrating our expertise into security solutions for AI-driven mobility. With the rise of autonomous vehicles, the demand for secure mobility solutions will surge, making it one of our key expansion areas.

A Toyota subsidiary engineer recently mentioned that one of the biggest challenges in autonomous driving security is balancing high-level security with practical usability while integrating multiple technologies, components, and stakeholders into a single system. Can you explain how your product facilitates security within autonomous driving?

Authentication is one of the most crucial aspects of autonomous driving security, which is why we have developed V2X, our security authentication system. We have completed testing on V2X, and it is now ready for deployment.

Another critical aspect is privacy protection. For cooperative autonomous driving, vehicles continuously exchange information through vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication. This can lead to the possibility of vehicle tracking, so an authentication system that ensures anonymity is established to protect against this risk.

We also offer a central authentication system that operates from a centralized hub to all vehicles, but our primary focus is on developing robust, decentralized security solutions that enable secure communication between individual devices. This approach allows us to enhance security while maintaining the practicality and efficiency necessary for real-world deployment.

Dream Security has an exceptional team of engineers and strong capabilities in encryption. You have also invested heavily in R&D to explore quantum cryptography and blockchain technologies. Could you elaborate on your ongoing developments and how you envision these technologies enhancing your systems in the future?

We are actively working on two key solutions: post-quantum cryptography (PQC) and quantum key management systems (QKMS). Additionally, we collaborate with various distribution companies for quantum key distribution (QKD) to manage encryption keys effectively.

Regarding PQC, the standardization of PQC algorithms is currently underway in both the U.S. and Korea. Based on these developments, we are working on authentication solutions that integrate PQC technology. For example, we are developing PQC-based authentication solutions, which will be incorporated into our security offerings.

As a technology-driven company, we recognize that quantum security is one of the hottest topics in the industry. While we cannot predict the exact timeline for the widespread adoption of quantum security and PQC, we firmly believe that it is essential to prepare for the future. That is why we are collaborating with major players to ensure we stay ahead of the curve.

QKD is a fascinating technology, but aside from China and Europe, which have a few practical applications. QKD infrastructure and cost investment limitations restrict its potential. PQC, on the other hand, is being standardized in the U.S. and appears more practical. However, considering that quantum computers are still far from mass deployment, do you believe PQC is gaining attention because it is imminent, or do you think we are still decades away from its full realization?

Quantum computing and quantum technology are undoubtedly future-oriented, but they are also necessary in the present. While core technologies like quantum cryptography and PQC algorithms are crucial, the supporting technologies, such as key management systems (KMS), must also evolve for quantum computing to reach its full potential.

At Dream Security, we are actively developing technologies that enhance existing security frameworks while preparing for the quantum era. Through this process, we have accumulated valuable expertise and technical know-how.

We are conducting our research with a long-term perspective on quantum security, and currently internally focusing on optimizing costs and enhancing the scalability of the quantum security system.

Since 2020, Dream Security’s revenue has experienced remarkable growth, increasing from 30 billion KRW to over 260 billion KRW year, with this upward trend continuing. Looking ahead to the next three years, what will be the main drivers of your growth? How do you see the influence of international markets, and where do you expect to capitalize on your technologies?

First, thank you for acknowledging our journey from an SME to our current scale. We are constantly preparing for the next generation of security solutions.

We anticipate continued growth in our core businesses, but we also expect a significant boost from DigiCAP. In the future, we believe content will be a major growth driver. DigiCAP played a crucial role in the transition from digital broadcasting to the next generation digital broadcasting, and we see great potential in its continued evolution.

DigiCAP is well-positioned to capitalize on the growing demand for digital content. Not only does it have the capability to distribute digital content, but it also provides security solutions tailored for digital content. This combination makes it a highly promising company, and we expect substantial revenue growth from this segment.

Today, DigiCAP primarily works with Korean companies. Do you see it expanding beyond Korea in the future?

Actually, DigiCAP is already working with international clients, including companies in the U.S. and, most recently, Brazil.

In Korea, the broadcast solutions market is highly competitive, which has somewhat slowed growth. However, in the U.S., DigiCAP is generating significant sales and revenue. The demand for secure and efficient broadcasting solutions is growing worldwide, and we are well-positioned to meet these needs.

How did you manage to attract such major clients in the U.S.? What key advantages did they see in working with a Korean company, given the geographical and cultural differences?

When it comes to digital broadcasting, Korea is one of the most advanced countries. While the foundational technology originated in the U.S., Korean companies have refined and optimized it to an exceptional level. As a result, many U.S. companies sought out Korean solutions for digital broadcasting.

In the past, Korean companies were not widely recognized in global markets due to limited exposure. However, as awareness of Korean technological advancements has grown, international demand has increased. Competition is no longer an issue for us, as global companies now recognize the quality and reliability of our solutions.

A great example of this is our partnership with Sinclair Broadcast Group, a major U.S. broadcasting company that selected our solutions. The same applies to our recent collaboration in Brazil.

Korea has a strong reputation for craftsmanship and precision, which extends beyond manufacturing to digital content creation. K-content, such as K-pop, has gained massive popularity worldwide because Koreans excel at producing high-quality content.

Earlier in this interview, I mentioned language barriers as a key reason why Korean technology was not widely recognized in the past. However, advancements in AI-powered translation tools have made Korean content and technology more accessible to global audiences. This trend will continue, further boosting the adoption of Korean solutions worldwide.

Korea has transitioned from being relatively unknown on the global stage to emerging as a major player in IoT and ICT. Our readers will gain valuable insights into these sectors through your interview and those of other CEOs. Could you summarize your key message for them?

Korea is an incredibly dynamic country, constantly evolving and innovating. We produce not only world-class technology but also top-tier content.

My dream is for Korean technology and solutions to reach a broader global audience. To achieve this, I am continuously researching emerging fields such as quantum computing and AI—I genuinely find it exciting. This passion and energy define Korea as a country. As I mentioned earlier, Korea’s dynamism drives its technological and creative advancements, and I hope that Korean technology and content will continue to be embraced worldwide.

For more information please visit: https://www.dreamsecurity.com/