South Korea’s Make Group Explores Maritime Investment Opportunities in Liberia
A high-level delegation from South Korean Company Make Group, led by its Chairman James Juhee Han, has expressed strong interest in investing in Liberia’s maritime sector following a meeting with Commissioner/CEO of the Liberia Maritime Authority (LiMA), Neto Zarzar Lighe Sr.
The discussions, held today, at LiMA’s headquarters in Monrovia, focused on identifying key investment opportunities to enhance Liberia’s maritime infrastructure, workforce training, and inland transport services.
The visit follows the recent diplomatic engagement between Liberia and South Korea, notably President Joseph Nyuma Boakai Sr.’s participation in the Korea-Africa Summit in Seoul in June 2024.
During the meeting, Commissioner Lighe, Sr. outlined several critical challenges facing Liberia’s maritime sector. Among these were the need for local vessel construction that meets international safety standards, capacity-building initiatives for LiMA personnel, and substantial investments in the Liberia Maritime Training Institute (LMTI) to enhance training programs through modern equipment.
He further emphasized the importance of developing coastal and inland water transport services and establishing a dry dock facility for ship maintenance. “Ensuring that vessels constructed in Liberia meet global standards and that LiMA’s workforce is adequately trained are priorities for the Authority,” he stated.
For his part, Chairman Han reaffirmed his company’s commitment to investing in Liberia’s maritime sector, citing a range of potential projects. These include constructing a dry dock facility for ship maintenance and repairs, launching a student exchange program to train seafarers and maritime professionals, and developing small to medium-sized ferries and cargo vessels to facilitate coastal and inland waterway transportation.
“The maritime sector in Liberia presents exciting opportunities,” Han said. “We are prepared to collaborate closely with LiMA and the Liberian government to realize investments that will benefit both parties.”
Commissioner Lighe Sr. welcomed the investment interest, assuring Make Group of Liberia’s commitment to fostering a conducive business environment.
He pledged to work with the company’s technical team to identify a suitable site for the proposed dry dock facility. Additionally, he highlighted the government’s plans to incentivize shipowners to utilize such infrastructure once established in Liberia.
He also stressed Liberia’s environmental preparedness for ship decommissioning, positioning the country as a strategic hub for maritime investments in West Africa.
The meeting concluded with both sides acknowledging the importance of continued dialogue to fine-tune investment strategies. Chairman Han praised the passionate discussions, reaffirming Make Group’s readiness to work alongside Liberian authorities to drive growth in the maritime sector.
As Liberia seeks to expand its maritime industry, partnerships with global investors such as Make Group could prove pivotal in boosting economic growth, creating jobs, and strengthening the nation’s position as a key player in international shipping and trade.
Source : LiMA
