[AI Revolution](211) Softrick: "Inadequate API Security Risks Massive Sensitive Data Leaks at Once"

Importance of API Traffic Optimization and API Threat Response

Kim Dongchul, CEO of SoftFreak, is being interviewed by The Asia Business Daily. Photo by Dongju Yoon

"With the rapid development of artificial intelligence (AI), API (Application Programming Interface) security has become increasingly important. A large amount of sensitive information can be leaked through APIs, so we must pay extra attention to API security."

On August 11, Kim Dongchul, CEO of Softfreak, met with The Asia Business Daily at the company's headquarters in Banpo-dong, Seoul. He said, "If API security is not properly established, hackers can access a company's IT assets and steal massive amounts of data. Strengthening API security to prevent data breaches through networks and applications is an urgent priority," he emphasized.

Softfreak is an API security specialist company founded in 2023 by CEO Kim, who gained experience at security firms such as INGEN and KSign. Driven by his adventurous spirit and the desire to "become an eccentric in the security industry," he launched Softfreak. APIs are protocols that enable communication and sharing of data and functionality between various software programs and components. They manage how applications interact and control the types of requests that can be exchanged between programs and the way those requests are made. Softfreak provides a range of solutions, including an API governance platform, account management and access control solutions, and automated vulnerability assessment solutions.

CEO Kim said, "Recently, the API market has moved beyond simple linkage and mediation functions, and is being reorganized around API governance platforms that integrate API lifecycle management, policy, security, and monitoring. As the importance of API traffic optimization and API threat response capabilities increases, I decided to establish a company specializing in API security."

He added, "Hackers can generate heavy API traffic, similar to DDoS attacks, overloading the system or degrading service quality. Instead of making a single API call, they make multiple calls to extract large volumes of sensitive information at once and look for previously unidentified API vulnerabilities to exploit. That's why achieving API visibility is essential," he emphasized.

Kim Dongchul, CEO of Softfreak, is giving an interview with The Asia Business Daily. Photo by Dongju Yoon

Softfreak's flagship product is "PAPHIM Gateway," an integrated API management solution that optimizes the operation and management of APIs, which serve as data communication pathways between software systems. PAPHIM Gateway intermediates and coordinates API calls between internal and external systems within an organization and controls traffic between services to ensure API requests are processed securely. Through participation in the "AI Security Promising Company Support Program" led by the Korea Internet & Security Agency (KISA), Softfreak completed the development of "PAPHIM Security," and this product has received a Grade 1 GS certification this year.

CEO Kim recently announced that Softfreak has been acquired by NETZ, a company specializing in identity and access management (IAM) and single sign-on (SSO), in recognition of Softfreak's technological capabilities. CEO Kim explained, "At a time when we needed funding for research and development (R&D), we received an acquisition offer from NETZ, a leading domestic IAM provider, and the company was valued at 20 billion won. Even after the acquisition, I will remain the second largest shareholder and will be guaranteed management rights for a certain period." He added, "Going forward, Softfreak plans to aggressively target the public and financial markets by advancing the automation capabilities of PAPHIM Gateway, expanding policy templates, and strengthening integration with monitoring and security solutions. We aim to actively expand our market presence through synergies with NETZ, which already has a significant customer base among financial institutions and large enterprises."

This content was produced with the assistance of AI translation services.