Large Marine Ecosystems (LMEs) are relatively large areas of ocean space, adjacent to the continents in coastal waters where primary productivity is generally high. Their natural characteristics allow for the application of governance practices based on the ecosystem approach. The Yellow Sea Large Marine Ecosystem is a shallow semi-enclosed sea, located between the Chinese continent and Korean Peninsula. Three nations, the People's Republic of China (PRC), the Republic of Korea (ROK) and the Democratic People's Republic of Korea (DPRK), are located along the coast of Yellow Sea. Anthropogenic activity and global environmental changes are causing stress on the resources of the Yellow Sea Large Marine Ecosystem (YSLME). To address the transboundary challenges these impose, the Ecosystem-based Governance approach is being applied as the best method to sustain the goods and services of YSLME, which needs strong collaboration by all the YSLME nations. This paper summarizes the current status and threats of YSLME, as well as the present cooperative management systems being developed in the PRC and the ROK. Progress in implementing a collaboration mechanism, activities, and projects are also reviewed in the paper. The Yellow Sea Commission, a new intergovernmental collaborative organization, is expected to be established by YSLME nations (including the DPRK) to support Ecosystem-based Governance. The paper emphasizes the objectives and activities of a collaborative YSLME project for provisioning services, regulating services, cultural services, and supporting services of the YSLME under a new intergovernmental collaboration mechanism (YSLME Commission), which will push forward Ecosystem-based Governance and sustainable development of the YSLME as described in SDG 14, the United Nations 2015 Sustainable Development Goal and targets for the oceans. © 2018 Elsevier Ltd