South Korea's Lotte Group on Monday defied Chinese government's recent warnings as it agreed to trade away a large part of its land to the South Korean government for deploying THAAD missile or Terminal High Altitude Area Defense system.  

Lotte Group will sign the final contract with Seoul as early as this Tuesday, South Korean government said. The deal would eventually pave the wave for deployment of THAAD missile between the month of May and July.  

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After the deal, Lotte will officially hand over its golf course in the south-eastern rural country of Seongju for deployment of the anti-U.S missile system.  

South Korea's fifth largest business conglomerate has been lately involved in intense negotiations with the government over the land deal as Chinese government stepped up the retaliatory pressure against firm's business interest in China.

China has been strongly protesting against the THAAD deployment, claiming that such a move would evoke serious security concerns for the Asian giant. It is also wary about the U.S military getting a further stronghold in the region. However, Seoul justifies the move as a defensive act against the belligerent North Korea, which conducted its latest missile test earlier this month.  

Without mincing any words, Lotte Group said on Monday that it now expects further scrutiny from Chinese government, after being subjected to several regulatory measures during past couple of months.

As a result of these measures, the South Korean group was forced to close three retail stores in Beijing city last month and halted construction of its $2.6bn theme park project in the Shenyang town.

Last week, Chinese state media warned the multinational conglomerate firm that it would face serious financial losses in the Chinese market if it allows its land to be used for THAAD deployment. But Lotte is not the only South Korean entity that is facing heat in China over the THAAD issue.

The immensely popular South Korean Drama and pop music are also facing immense pressure, with several concerts and television appearances being cancelled.  

TagsTHAAD missile system, South Korea Lotte Group, South Korea and China, china