According to the Yonhap news agency, the KMEP drills will last two weeks off the South Korean city of Pohang.
The parties plan to hold 24 rounds of the exercise until September next year, the media added.
The report comes a day after North Korea threatened to revive the nuclear program unless Washington lifts economic sanctions against the DPRK.
South Korean Defense Minister Jeong Kyeong-doo and US Secretary of Defense James Mattis decided earlier in October to suspend the Vigilant Ace military exercise scheduled for later this year in order to enable the diplomatic process with North Korea to continue.
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Pyongyang secured Washington's commitment to suspend US-South Korean drills in exchange for a promise to conduct denuclearization of the peninsula. However, the settlement has somewhat slowed down over the past several months.