In August, North Korea threatened to fire a salvo of intermediate range missiles toward the U.S. Pacific island territory.
Joining the drill from the US military would be USS Ronald Reagan nuclear-powered aircraft carrier under the USA 7th Fleet.
Anti-aircraft and anti-ship guns will be fired during the exercise, the navy added.
Washington has agreed to deploy so-called strategic assets in and around South Korea on a more regular basis to provide better deterrence against the North.
"Both the South Korean and U.S. Navy will firmly maintain a combined maritime defense posture with a strong will to immediately repulse any kind of enemy provocations to protect the Republic of Korea".
The US Navy said in a statement that the drill is created to promote "communications, interoperability, and partnership" between the two militaries.
There has been a flurry of United States military hardware movement around the Korean peninsula in recent days. The arrival one of the largest subs in the world comes amid growing tensions on the Korean peninsula.
On Friday the nuclear-powered USS Michigan submarine arrived at South Korea's southern port of Busan, according to Yonhap news agency, just days after another nuclear-powered submarine - the USS Tuscon - left after a five day visit.
The vessel is carrying Tomahawk cruise missiles, used by the U.S.in the early April attack on Syria's Shayrat airbase.
The Los Angeles-class attack submarine the USS Tucson (SSN 770) pulled into the U.S. Fleet Activities Chinhae base on October 7 "as part of its deployment to the Indo-Asia-Pacific region", the U.S. Navy said on Tuesday. These submarines are able to launch an "unprecedented strike" from a "stealthy, clandestine platform", it adds.
With a length of 170.6 meters and 18,000-tonnes behind it, the vessel is the second Ohio-class nuclear-powered guided missile submarine in the US Navy.
It came in response to two US Air Force supersonic heavy bombers being flown over the Korean peninsula in a show of force against Pyongyang on Tuesday night.
Earlier this week the USA held joint military exercises with Japan and South Korea in a highly provocative move in the Sea of Japan.