North Korea has demanded that its rival nation South Korea cancel its yearly military exercises with the US ahead of the Asian Games to promote reconciliation.

Analysts say North Korea is planning to use its upcoming participation in the Asian Games as a bargaining chip in its existing standoff with Seoul. The tournament is set to take place in Incheon, South Korea from September 19 to October 4.

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North Korea also wants to improve its relations with other nations to attract investments in a bid to jumpstart its troubled economy, analysts say. However, Seoul and Washington officials have said the North must first give up its nuclear weapons to gain any economic aid.

In a statement issued on Monday, North Korea's National Defense Commission said it wants immediate cancellation of the South Korea-US military drills this August because it is a form of a preparation for an attack. North Korea expert Lim Eul Chul said the North could boycott the September tournament if unwanted developments occur or if its rival nation pushes ahead with the drills.

State media cited the defense commission proposing the two Koreas stop the standoff at the borders beginning Friday. The day marks the 42^nd anniversary of the 1972 declaration of peaceful reunification between the two nations.

The North has previously made similar proposals, but those have been quickly scrapped as tension between the two countries escalated again.

The demand comes amid existing heightened tension between the North and the South after North Korea pushed through with a series of missile tests earlier his year. An encounter had also erupted near a western sea boundary disputed by the rival countries.

North Korea had fired short-range rockets and missiles into disputed waters near its east coast on Thursday and Sunday, according to South Korean officials. Later on, the North's state-run firm reported that leader Kim Jong Un had inspected the missile tests.

TagsNorth Korea, US-South Korea military drill