The leaders of the United States, Japan and South Korea will agree to hold trilateral summits on a regular basis, at least once a year, when they meet next week, diplomatic sources said Thursday.

The three countries are planning to mention the agreement in a joint statement on the results of their meeting, to be hosted by U.S. President Joe Biden at his Camp David retreat near Washington on Aug. 18, according to the sources.

Among other points, they are expected to agree to hold joint drills of the three countries' armed forces around the Korean Peninsula on a regular basis, improve intelligence sharing and work more closely on new areas, such as cybersecurity and supply chains for key industrial sectors, the sources said.