Samsung Electronics Executive Chairman Lee Jae-yong, right, talks with Hyundai Motor Group Executive Chair Chung Euisun during the Korea-Czech Republic Business Forum in Prague, Czech Republic, Sept. 20. Yonhap

The heads of Samsung and Hyundai Motor groups will enhance their monitoring of the Asian market by joining President Yoon Suk Yeol on his upcoming state visit to Singapore next week.

The Southeast Asian city-state is undeniably a key market for both companies. Samsung and Hyundai are poised to increase their investments in the country to strengthen their presence in the broader Asian market.

Samsung Electronics Singapore supervises overall sales operations in Southeast Asia. The regional office focuses on boosting sales for Samsung's premium consumer electronics.

Samsung Electronics Executive Chairman Lee Jae-yong, along with Yoon and a group of other regional partners, will handle hectic business schedules in Singapore from Tuesday.

In April, Samsung SDI also established its subsidiary in the country to widen its battery and electronic mobility presence there. Lee is widely expected to visit Samsung Group's key business facilities in Singapore and seek opportunities for further growth.

Hyundai Motor Group also identifies Singapore as its next mobility hub. In November last year, the carmaker completed building its much-awaited new innovation center called the Hyundai Motor Group Innovation Center Singapore (HMGICS).

The firm's state-of-the-art research and manufacturing facility serves as its smart mobility hub, capable of producing more than 30,000 electric vehicles (EVs) annually and conducting research in major emerging technologies, such as artificial intelligence (AI), robotics and smart factories.

Hyundai Motor Group Executive Chair Chung Euisun will also visit the facility on the sidelines of Yoon's trip.

Earlier, Chung expressed high expectations for the HMGICS after its completion ceremony.

"We can get fresh ideas on factory automation and automobile quality improvement in Singapore, as global talents come to the state for research in the areas," Chung told reporters last year after holding an event to celebrate the facility's completion.

Singapore is gaining more popularity from the global workforce, as its government is favorable to building research infrastructure by attracting renowned tech firms.

The HMGICS is producing Hyundai Motor's flagship IONIQ 5 EV and autonomous robot taxis. Some of the self-driving taxis are in test-operation in Singapore.

Chung will meet with the staff there and inspect the research facility. Under Chung's vision, Hyundai Motor Group will apply its smart manufacturing solutions developed from the HMGICS to its major production lines in the United States and Korea.

Both leaders from the nation's top conglomerates will also hold meetings with Singaporean businesspeople for their tech partnership.

"Many global companies set up their Asian headquarters in Singapore, as they can easily hire smart manpower and the country secures symbolic image as a tech-savvy nation," an official from a major Korean tech firm said.

"Asia's strategic importance is also growing rapidly for global firms, so more tech-oriented big companies will pay attention to Singapore."

SK Group Chairman Chey Tae-won and LG Group Chairman Koo Kwang-mo, however, will not accompany Yoon due to their pre-arranged business schedules.