Washington (CNN) President Donald Trump's military parade in DC is likely to cost nearly as much as the now canceled military exercise with South Korea that Trump called "tremendously expensive" and said cost "a fortune," three US defense officials tell CNN.

The parade, which is now scheduled to take place on November 10, is currently estimated to cost approximately $12 million, the officials said. One official called the number "a planning figure," saying cost estimates could still change as planning develops.

"We save a fortune by not doing war games, as long as we are negotiating in good faith - which both sides are!" Trump tweeted in June following his meeting with North Korean leader Kim Jong Un in Singapore.

North Korea had long sought an end to the exercises, which it says are provocative. US military leaders have said the exercises are necessary to maintain the readiness of US troops in South Korea.

Pentagon spokesman Col. Rob Manning told reporters earlier this month that the now-cancelled US-South Korea Freedom Guardian Exercise was estimated to cost approximately $14 million.

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