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Samsung just opened the world's largest mobile phone factory in India on the outskirts of Delhi.

Mobile manufacturing was added in 2005.

"Now we need a turning point in our economic cooperation with India and Asean countries", Mr Kim said.

Smartphone makers from Xiaomi Corp to Oppo Mobiles are building factories in the world's fastest growing market for the product bolstering Modi's push to encourage overseas investors to "Make in India".

Samsung India chief executive officer HC Hong said that the Noida factory, the world's largest mobile factory, is a symbol of Samsung's strong commitment to India.

A report in The Korea Times on Sunday said Moon's visit to India and later to Singapore are aimed at advancing his "New Southern Policy" with the two countries seen as key elements of the initiative to diversify Seoul's diplomatic and economic strategies.

Samsung is setting up shop in India in a big way.

While about 3 lakh common service centres have taken internet services to villages, free Wi-Fi hotspots in urban areas are giving wings for aspirations of poor and middle class, he said.

Spread across 35-acres at Sector-18 in Noida, the new plant will be producing smartphones along with refrigerators and television sets.

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Modi said 30 percent of the phones manufactured at the factory, built at a cost of Rs 5,000 crore, will be exported.

Speaking on the new investment, a Samsung official had said that the latest investment in Noida plant would double the production capacity of smartphones. Such is the importance of the factory, India's Prime Minister Narendra Modi and South Korean President Moon Jae-in will be in attendance to inaugurate it. The factory will provide jobs to more than 2,000 people.

Moon also lauded young and enterprising Indians and also the country's software prowess, and noted Korea's strength is in commercial technology and hardware.

India, on the other hand, may hold the greatest potential for South Korea and have the least risk.

President Moon Jae-in on Monday focused on highlighting the potential presented by South Korea-India ties.

The prime minister's office (PMO) tweeted a picture of the two leaders travelling on the Delhi Metro.

India's smartphone market grew 14 per cent with total shipments of 124 million units past year, the fastest pace of growth among the world's top 20 markets, according to technology research firm IDC.

Samsung already has a considerable presence in the US, Korea and Brazil, but with smartphone growth beginning to slow in those markets, the South Korean chaebol has turned its attention towards India - where demand for handsets is more encouraging.