South Korea's electronic giants are set to invest some ten-point-five trillion won in South Korea to develop state-of-the-art handsets and household gadgets by the year 2020.
 
Samsung Electronics and LG Electronics revealed their investment plans on Wednesday at a trade conference in Seoul. 
 
The two firms will inject six trillion won to develop household gadgets and open platforms based on the Internet of Things as well as smart home services and other technologies built on Big Data.
 
Some two-point-five trillion won will be invested in developing new smartphone technologies, including artificial intelligence and virtual reality. Two trillion won will be spent on new businesses such as smart cars.