In an interview with Indian media conducted before his departure on Sunday, Moon said that he places "immense importance" in cooperation with India, and that Modi's Act East Policy and his New Southern Policy are in tune with each other.
Samsung has Invested close to 5,000 Crore Rupees in this plant and aims to Manufacture 12 Crore Mobile Handsets annually which will result is massive job creation.
President Moon is set to hold a bilateral summit with Indian Prime Minister Narendra Modi on Tuesday, followed by a meeting with Indian President Ram Nath Kovind and a state dinner to be hosted by his Indian counterpart.
The PM added the number of manufacturing factories in mobiles had gone up to 120 from just two since 2014. "2,000 new jobs will be generated in this plant", he said. South Korean investments in India amount to $4.64 billion between 2000-2017 with Kia Motors announcing a $1.1 billion investment to set up a manufacturing unit in Andhra Pradesh. In a statement issued then, Samsung said: "The expansion of the plant on an additional 35 acres of land adjacent to the current facility will double the production capacity of both mobile phones and refrigerators".
"Samsung's global R&D hub is 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.
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Speaking on the new investment, a Samsung official had said that the latest investment in Noida plant would double the production capacity of smartphones.
The foundation stone of the Noida plant was laid by Samsung in 1996.
Samsung has played a key role in generating employment in India with over 70,000 people. Prime Minister Modi is credited with starting the "Made in India" initiative, which is attracting overseas investors including Xiaomi and fellow smartphone-maker Oppo.
"Samsung is a world leader in technology today".
Modi was seen explaining finer points during the ride as eager commuters on stations waived and clicked pictures of the two leaders from their mobile phones.
They travelled with tokens in a normal train with passengers and there was no delay in services on the Blue Line due to their movement, the spokesperson added.
This is Moon's first-ever state visit to India after he took over as the President a year ago. "Such a large facility will help Samsung cater to the huge demand in a country of 1.3 billion people where there are only 425 million smartphone users".