On Tuesday, the Vietnamese government said, South Korean electronics giants Samsung and LG plan to invest billions more in Vietnam.

Samsung has previously cut smartphone production in Vietnam twice in response to weak global demand. The Vietnamese government said that Samsung Electronics, the largest single foreign investor in Vietnam, will increase its total investment from $18 billion to $20 billion.

On Tuesday, a person familiar with the matter said the year-end would complete the investment. About half of Samsung’s smartphones have been produced in Vietnam for years, accounting for nearly a fifth of the country’s total exports.

The additional investment will cement Vietnam’s status as Samsung’s main production base, Vietnamese President Nguyen Xuan Phuc said after a meeting in Seoul on Tuesday with the company’s CEO, Han Jong-hee.

In a separate statement, the Vietnamese government said LG would invest another $4 billion in the country, making it a smartphone camera production hub.

LG, which has invested $5.3 billion in Vietnam to produce products including electronics, home appliances, cameras and auto parts, did not immediately respond to a request for comment.

On Monday, the announcement came as Vietnam and South Korea said they were upgrading their relationship to a “comprehensive strategic partnership, ” which Vietnam has only with China, Russia and India.

The two countries aim to boost bilateral trade to $100 billion next year and $150 billion annually by 2030, up from $78 billion last year.

Vietnam has emerged as one of the most attractive production hubs for electronics companies over the past decade, but weak global demand has prompted production cuts this year.