Land-swap deal for S. Korean THAAD site may be delayed

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The first of two Terminal High Altitude Area Defense interceptors is launched during a successful intercept test.  U.S. Department of Defense
From Stripes.com
The first of two Terminal High Altitude Area Defense interceptors is launched during a successful intercept test. U.S. Department of Defense

Land-swap deal for S. Korean THAAD site may be delayed

by: Kim Gamel | .
Stars and Stripes | .
published: January 17, 2017

SEOUL, South Korea — Officials may have to delay the signing of a land-swap deal that is needed for the deployment of an advanced U.S. missile defense system to counter the growing threat from North Korea, the defense ministry said Monday.

In November, the ministry reached a tentative agreement with the Lotte Group, one of South Korea’s largest conglomerates, to exchange military land near Seoul for its hilltop golf course in a southeastern area that was selected as the home for the anti-missile battery.

Defense officials had hoped to conclude the deal this month after appraisals of both sites, but a spokesman said the acquisition may be delayed due to administrative reasons on the retailer’s side.

Moon Sang-gyun, the defense ministry spokesman, said the appraisals were conducted last week and the results will eventually be made public.

“But the swap deal originally scheduled to be completed by January has a chance of being pushed back a bit due to the need to follow a set process by Lotte,” Moon told a regular media briefing.

He said that once the administrative work is completed, Lotte’s board of directors must hold a meeting to sign off on the deal.

Read more at: https://www.stripes.com/1.449155

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