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02:55 PM, February 27, 2017
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South Korea's Lotte Approves Land Swap For Thaad Missile Deployment
South Korea's Lotte Approves Land Swap For Thaad Missile Deployment

South Korea's Lotte Group has approved a land swap with the government on Monday that will enable US authorities to deploy Terminal High Altitude Area Defence (Thaad) system.

The government decided last year to deploy the US THAAD system in response to the North Korean missile threat, on land that is part of a golf course owned by Lotte in the Seongju region, southeast of Seoul, various media reported today.

The board of unlisted Lotte group approved the deal with the government, and both sides will be signing an agreement as early as Tuesday, the ministry said.

South Korea and the United States aim to make the system operational by the end of the year. A South Korean military official said last week that the deployment could be completed by August.

However, China is opposed to the deployment in South Korea of the THAAD, which has radar, capable of penetrating Chinese territory.

Chinese state media recently warned the Lotte Group, South Korea's fifth-largest conglomerate, that it would face severe consequences if it permits its land to be used for the missile system.

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