April 26, 2024
Economy
Lotte signs land swap deal with gov’t for THAAD
[THE INVESTOR] Lotte Group formally signed a land-swap deal with the government on Feb. 28, paving the way for the installation of an advanced US missile defense system, the Defense Ministry said.
The ministry and Lotte Group have agreed to exchange properties, a ministry official said. The official stated this will allow the deployment of the Terminal High Altitude Area Defense system by July, which will allow the country to better counter threats from North Korea.
On Feb. 27, the board of the Lotte affiliate passed the proposal to hand over a golf course in the southeastern rural county of Seongju in return for state-owned military land east of Seoul.
(theinvestor@heraldcorp.com)
The ministry and Lotte Group have agreed to exchange properties, a ministry official said. The official stated this will allow the deployment of the Terminal High Altitude Area Defense system by July, which will allow the country to better counter threats from North Korea.
On Feb. 27, the board of the Lotte affiliate passed the proposal to hand over a golf course in the southeastern rural county of Seongju in return for state-owned military land east of Seoul.
(theinvestor@heraldcorp.com)
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