S. Korea formally signs land swap deal with Lotte for THAAD

SEOUL - South Korea's defense ministry on Tuesday signed the land swap deal with Lotte Group for Terminal High Altitude Area Defense (THAAD), a ministry official said.

The official told Xinhua that the contract to exchange military land for the Lotte-owned golf course was formally signed earlier in the day.

Lotte International, a Lotte unit possessing the golf course where the US missile shield is set to be sited, held a board of directors meeting Monday to approve the contract.

Seoul and Washington abruptly announced a decision in July last year to deploy one THAAD battery by the end of this year. The site was changed in September into the golf course in Seongju county, North Gyeongsang province.