The Xiaomi 14T smartphone / Courtesy of Xiaomi Technology Korea

Xiaomi joined Chinese tech firms in trying to expand its presence in the Korean market by establishing a local subsidiary late last year with a plan to attract consumers with its low-priced smart devices.

Xiaomi Technology Korea announced Monday its plan to hold a press conference on Jan. 15 to unveil its new products, including smartphones, televisions, robot vacuum cleaners, power banks and wearable devices.

Although the company has yet to disclose their prices, they are estimated to be much cheaper than similar products made by Samsung and LG.

Industry officials expect Xiaomi's opening of offline stores to help draw attention from Korean consumers. Before establishing the Korean subsidiary, the Chinese firm sold its products to consumers here online.

"With the establishment of the Korean subsidiary, we will communicate more closely with consumers," a Xiaomi Technology Korea official said. "With the products and services tailored for the Korean market, we will provide differentiated value."

Amid China's economic slowdown and U.S. President-elect Donald Trump's threat to sanction Chinese companies, other Chinese tech firms have also looked for new sources of income in the Korean market.

BYD, for example, is set to release its passenger car in Korea on Jan. 16, following years of sales of commercial vehicles here.

The Chinese electric vehicle maker finished selecting six dealerships in Korea late last year to establish a nationwide sales network embracing Seoul, Gyeonggi Province, Incheon, Busan and Jeju Island.

Its passenger cars are also expected to be sold for much lower prices in the Korean market, compared to Hyundai Motor's and Kia's vehicles in similar sizes.

"We are meticulously preparing to establish a brand that can earn the trust of Korean customers by leveraging our global success and cutting-edge technology," Cho In-chul, head of BYD Korea's passenger car division, said.

Roborock, a Chinese robot vacuum cleaner maker holding the largest shares in both the Korean and the international markets, also opened its second Korean flagship store in Starfield Goyang shopping mall in Gyeonggi Province on Jan. 1.

AliExpress has been accelerating its growth in the Korean e-commerce market, as its parent firm, Alibaba Group, joined hands with Shinsegae Group last month to establish a joint venture incorporating AliExpress and Gmarket.