North Korea threatened Friday that South Korea and the United States will pay a "horrible price" for their joint military exercise slated for next week, saying the drills will soon bring a "storm" that deteriorates the situation on the Peninsula.

North Korea criticised on Friday annual joint military drills planned by the United States and South Korea, saying it will worsen the situation on the Korean Peninsula, state media KCNA said. Annual South Korean and U.

South Korean and U.S. troops will begin their large annual joint military drills next week to enhance their readiness against North Korean threats

The exercise comes just days after North Korea warned of potential high-profile provocations in response to what it perceives as escalating U.S.-led aggression.