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 security situation on the Korean Peninsula.

South Korea and the United States agreed Thursday to closely coordinate on the formulation and implementation of North Korea policy while reaffirming the shared goal of the "complete" denuclearization of North Korea,

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.

Some officials in South Korea say agreeing to the pipeline investment might placate the U.S., but Trump is still threatening tariffs.

South Korea's acting President Choi Sang-mok on Wednesday ordered a review into the impact of U.S. tariffs on Canada, Mexico and China that came into force this week.

Every year on March 1, South Koreans commemorate the anniversary of the 1919 March 1 Movement, a nationwide uprising against Japanese imperial rule that galvanized the Korean independence movement.