Recently the national government's port management responsibility and authority have been privatized and decentralized; additionally, the newly introduced port governance, as a new port management system, spreads from the forefront of the advanced ports in the world to those of Australia, New Zealand, Italy, and countries in Central and South America. This shift of the port management system requires the participation of not only a notional government, but other diverse sectors to manage and operate their ports. However, in order to operate ports in the most efficient way under any form of port governance system, the following implications are suggested as a fundamental background. First, the establishment of port governance should be promoted step by step in consideration of internal and external changes in order to minimize side effects. Second, the government should retain the ownership of port assets, but the right of management should be privatized for successful port governance. Third, the attributes of public utility in operating and managing the ports should be secured regardless of whether any type of port governance is established. Fourth, the primary purpose of establishing port governance is to promote a commercial mind-set by adding the managerial efficiency and creativity of the private corporation into the public enter prise. Fifth, the independence of the port operation and management entity should be ensured by transfer of authority and responsibility. Independence is classified as legal independence and financial independence. Finally, the organization as a form of port governance should collect and reflect the opinions of the stakeholders, and the stakeholders should be able to participate in the discussion via any means.