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.

South Korea's suspension of some military drills after its fighter jets' accidental bombing of a civilian area may hinder its upcoming annual military training with the United States.

The South Korean military said the accident near the North Korean border occurred during training ahead of Freedom Shield, an annual U.S.-South Korea joint military exercise.