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To inform readers comprehensively and sufficiently about the new (July 1, 2004) legal regime of SOLAS/ISPS code concerning security of ports and ships.

The paper estimates the code's impact on vessels' security and on ships' ownership and control as well as on seafarers.

The maritime security measures costing $626 million (and $168 million per year) had to be seen as the third pillar of the international shipping policy and to facilitate instead of obstructing free flow of international sea transport.

The very recent implementation of ISPS code made this paper prognostic in nature.

This is the first account of the new regime and is of interest to shipowners and ports, US and EU seafarers.

The purpose of this paper is to examine the impact of financial investment (FI) in Authorized Economic Operator (AEO) certification on performance of Korean logistics companies through public and private partnership (PPP) and trade facilitation (TF).

Questionnaire survey was conducted to collect the data for this study, out of which 285 were adopted for the analysis using structural equation modeling for quantitative analysis. Also, it is based on professionals in Korean logistics companies that are AEO certified only.

FI on AEO certification had positive impacts on performance via PPP, while TF variable had no significant impact on the overall performance.

This study focuses on the FI in AEO certification and its impact on performance in Korea. There should be more quantitative and confirmatory research on other countries with AEO certification to validate the findings of this study. It may be possible to generate contrary findings in different economies or countries.

These findings imply that public managers should focus more on TF aspects of the program with the Mutual Recognition Agreement with major trading partners and growing economies around the world in order to make the AEO program more popular and global with supply chain members overseas.

This study has offered original discovery and practical, academic implications for AEO program in terms of testing and suggesting factors provided by previous studies as a confirmatory and quantitative research.