Liberia Maritime Authority Secures US$500M Deal with South Korea’s Make Group to Create 10,000 Jobs by 2030

Monrovia, Liberia: The Liberia Maritime Authority has formally secured a US$500 million investment proposal with South Korea’s Make Group following a high-level meeting at LiMA’s Monrovia headquarters on Wednesday, June 4, 2025. The deal positions the institution at the forefront of one of the country’s largest industrial development initiatives, which is aimed at constructing maritime infrastructure and creating 10,000 new jobs by the year 2030.

By: Abraham Sylvester Panto 

The Make Group delegation, led by Chairman James Juhee Han, presented detailed technical assessments identifying Grand Bassa, Margibi, and Montserrado Counties as optimal locations for the development of shipbuilding, ship repair, and ship recycling facilities. The proposed infrastructure is designed to meet the environmental and safety benchmarks of the Hong Kong Convention on Ship Recycling.

Receiving the delegation, Maritime Authority Commissioner and Chief Executive Officer Cllr. Neto Zarzar Lighe assured the group that the entity stands ready to fast-track the regulatory and institutional requirements necessary to finalize the draft Memorandum of Agreement, describing the project as a significant step toward realizing Liberia’s maritime industrial potential through structured foreign investment.

The initiative will be driven by the Liberia Maritime Authority, which will oversee implementation phases spanning environmental review, legal structuring, land acquisition, and labor integration while also ensuring full compliance with Liberian law in alignment with the ARREST Agenda for Inclusive Development (AAID).

The South Korean-based company, through its chairman, Han, confirmed that Make Group intends to operationalize the project beginning in 2026, with phased construction leading to full-scale activity by 2030, which will include the establishment of technical training centers, dry-dock yards, and inland water transport facilities.

The proposal follows two previous engagements between both entities in Monrovia and Seoul, where both institutions mapped out strategic areas of cooperation ranging from maritime infrastructure to industrial workforce development. The Liberia Maritime Authority has reaffirmed its institutional mandate to facilitate foreign partnerships that generate broad economic and social value.

The project is expected to create 10,000 jobs in skilled and unskilled labor categories, including marine technicians, engineers, welders, dock operators, and support service providers. The Maritime Authority will coordinate certification frameworks and local content compliance to ensure that Liberian professionals and enterprises play leading roles in the supply chain.

Beyond job creation, the investment seeks to restore and expand inland water transport networks, reducing dependence on overburdened road infrastructure and opening new economic corridors through efficient coastal and riverine transport systems under Maritime regulatory jurisdiction.

As both parties finalize terms in the coming months, the Liberia Maritime Authority is expected to maintain its role as lead institution, anchoring the investment within a national framework of transparency, environmental protection, and economic inclusivity, while reinforcing Liberia’s re-emergence as a competitive maritime nation in West Africa.