North Korea is expected to conduct a massive military parade in Pyongyang this week, marking the 73rd anniversary of the country's foundation.

According to multiple military sources in South Korea on Tuesday, ongoing preparations at Pyongyang's Mirim airfield suggest that the parade will likely take place on Thursday, the Day of the Foundation of the Republic. 

The founding of the Democratic People's Republic of Korea, the official name of the communist nation, falls on September 9.

Authorities project that the North will unveil strategic weapons, including a new submarine-launched ballistic missile(SLBM), and various tactical missiles during the parade.

Sources said the North could also announce a message targeting the United States or South Korea. Military and intelligence officials from the South are keeping an eye on the possibility of a nighttime parade, as the North has done in the past.

Joint Chiefs of Staff(JCS) spokesperson Col. Kim Jun-rak said on Tuesday that the military is monitoring the situation along with intelligence authorities from South Korea and the U.S.