Abstract
Value creation and value capture are useful concepts in evaluating the value of innovations because the spillover effects are clearly identified through the separation between value creation and value capture. The concepts also provide relevant framework for appraising the performance of public service that have low appropriability. This study introduces a case of successful cyber security innovation in South Korea named Cybershelter. It is a public service introduced by the Korea Internet & Security Agency (KISA) to protect vulnerable small-and medium-sized enterprises (SMEs) from the distributed denial of service (DDoS) attack. Once Cybershelter is introduced, the potential values are captured by primary beneficiaries (SMEs) as well as secondary groups. It results in spillover effects, such as: (a) quality improvement and revenue increases for firms, (b) manufacture of security equipment and provision of new related or similar services by the private sector, (c) adoption of similar protection systems by other public organizations, and (d) strengthening KISA’s capabilities.
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