South Korean military and Lotte Group formally signed a land swap deal on Tuesday morning for the deployment of the Terminal High Altitude Area Defense (THAAD) system, the country's defense ministry said.
The Ministry of National Defense and Lotte Group agreed to exchange properties which will allow the deployment of THAAD system by July, Yonhap news agency reported citing a ministry official.
On Monday, the ministry said that Lotte Group approved the planned land swap with the military.
"We have received a notice from Lotte Group that the company has given the green light to the land exchange plan with the military," the Defense Ministry said in a text message sent to reporters.
