The Galaxy Note 7 opens a new chapter of the global smartphone market, the head of Samsung Electronics Co.'s smartphone business said Thursday, ahead of the phablet's debut in South Korea.

Koh Dong-jin, president of Samsung's mobile communications business, made the remarks during a meeting with reporters as it begins selling the Note 7 in South Korea from Aug. 19.

"I think that the Galaxy Note 7, with its more completed look, opens a new chapter for the global smartphone market as well as Samsung Electronics," Koh said.

Samsung unveiled the phablet in New York earlier this month in a bid to keep up the momentum of its smartphone sales.

The Note 7 features an iris scanner and an S-Pen that allows users to translate words. Adding an extra security feature, the iris scanner enables only the owner of the device to use the smartphone.

Koh said the Note 7 is a product of Samsung's efforts to defy boundaries of engineering to offer a comfortable grip and easier one-handed operation.

"We spared no efforts to offer high-end hardware and software and strengthen the user experience," Koh said.

Koh ruled out the possibility of leaking biometric information stored in the phablets.

"The human retina is impossible to replicate and iris-recognition security is the safest to date," Koh said.

The Note 7 supports Samsung Pass authentication solution, bringing authentication such as iris scanning and fingerprint recognition to more financial apps and services.

With the Note 7's Samsung Pass, users can make mobile-banking transactions with Shinhan Bank, Woori Bank and KEB Hana Bank, company officials said.

The Note 7 is priced at 988,900 won ($898.10) in South Korea. (Yonhap)