A new national standard for digital multimedia broadcasting (DMB) has been announced in Korea to provide high quality digital audio, video, and data broadcasting services to fixed, mobile, and portable receivers. We have developed the world's first DSP/FPGA implementation of the portable DMB receiver, complete with an RF receiver, a 6.4-inch LCD display, and audio/video/data decoders. In this paper, we present the design, implementation, and performance of this portable DMB receiver. First, we provide a brief overview of the DMB system and the audio/video coding tools supported by it, i.e., MPEG-4 BSAC and MPEG-4 Part 10 AVC/H.264. We discuss the low-power high-performance design of the DMB receiver, focusing particularly on the audio/video decoding parts. Finally, we illustrate the performance of the portable DMB receiver that operates in real-time at the overall frequency of 25 MHz.