South Korean Joint Chiefs of Staff spokesman Capt. Jang Do-young (L) and U.S. Forces Korea spokesman Col. Ryan Donald (R) hold a press briefing for the Ulchi Freedom Shield 2026 exercise at Seoul's Defense Ministry on Monday. Pool Photo by Song Kyung-seok/EPA

SEOUL, Aug. 10 (UPI) -- The United States and South Korea will kick off a major joint military exercise next week, both countries announced Monday, as they prepare for evolving North Korean threats and the transfer of wartime operational control from Washington to Seoul.

The annual Ulchi Freedom Shield exercise will take place Aug. 17-27 and will incorporate "realistic threats, including lessons learned from recent conflicts ... to further strengthen the Alliance's readiness and capabilities through combined, joint, all-domain operations," the militaries said in a joint statement.

"The exercise will also serve as an opportunity to support ongoing preparations for a conditions-based wartime operational control transition, consistent with alliance agreement," the statement added.

South Korea is looking to complete the handover of wartime command from the United States before President Lee Jae Myung's five-year term ends in 2030. Last week, Seoul's Defense Ministry presented its plan at a presidential briefing and reaffirmed a push to verify the combined forces' "full operational capability," or FOC, ahead of a meeting of the allies' defense chiefs this fall.