By Robert Schoon (r.schoon@latinospost.com) | First Posted: Aug 26, 2013 01:12 PM EDT

While in the U.S., customers are still waiting for information about a possible release date for the Samsung Galaxy S4 Mini, the tech giant's home country of Korea looks to be getting the Samsung Galaxy S4 Mini first. According to a report from the Korea IT Times, Samsung is set to announce the new device for Korea this week, with a release of the diminutive version of their flagship Galaxy S4 in Korean stores and on KT wireless.

The Samsung Galaxy S4 Mini, which features pared-down specs from the company's top smartphone, will unsurprisingly cost less as well. If customers want a contract-free version of the new handset, they'll only have to shell out 550,000 won (the equivalent of about $490 U.S.). That makes the mini version of the Galaxy S4 even more appealing, as the Galaxy S4 runs at 899,800 won.

For the smaller sticker price, users will have to accept some significant differences from the flagship smartphone. Instead of the Galaxy S4's 5-inch screen, the Samsung Galaxy S4 Mini comes with a 4.3-inch screen. And instead of the Galaxy S4's 1080p Full High Definition resolution, the Galaxy S4 mini has a 540 x 960 pixel resolution. The device is powered by a dual core Qualcomm Snapdragon 400 processor, clocked to 1.7GHz and featuring 1.5GB of RAM. Internal storage space is more cramped at 8GB, as opposed to the 16GB, 32GB, or 64GB options in the Galaxy S4. The Main camera has been pared down as well, leaving customers with a still respectable 8-megapixel main camera, with a 1.9-megapixel front facing shooter built into the device as well.

Still, for a much lower price, you'll get Android 4.2.2 with Samsung's TouchWiz UI and all of those software goodies that Samsung packs into its handset. It'll also come with NFC, an IR Blaster, Bluetooth 4.0, and support for LTE networks. Stay with Latinos Post Tech for more information on a Galaxy S4 mini U.S. release date as it becomes available.