Lotte Group, South Korea’s fifth-largest conglomerate has agreed a land swap deal with the government that will allow the US to host the Terminal High Altitude Area Defense (THAAD) missile defense system on South Korean soil, defense ministry officials announce Monday. Xinhua reports: The ministry official said the signing ceremony would happen as early as Tuesday, adding that more details would be announced separately after the signing. Lotte International, a Lotte Group unit possessing the golf course, held the board meeting to decide on whether give a green light to the deal to exchange military land for the golf course in southeast South Korea. Seoul and Washington agreed in July last year to deploy one THAAD battery to the golf course in Seongju county, North Gyeongsang province by the end of this year. The land swap deal was initially scheduled to be inked in January, but it was delayed amid strong oppositions at home and abroad. On Feb. 3, Lotte held a board meeting, in which it failed to approve the contract. The signing is forecast to speed up the remaining procedures for the THAAD deployment in South Korean soil. The procedures include South Korea’s provision of the golf course [...]
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