Pantech has just announced the Vega Iron 2 smartphone in South Korea earlier today. Prior to that, the device has made occasional appearances in the rumor mill sporting a hardware comparable to most flagships available in the market today.

The Vega Iron 2 comes with a 5.2 inch 1080p Super AMOLED display, a 2.3 GHz Snapdragon 801 chipset, a 13-megapixel camera with something called the “Wide Optical Image Stabilization”, a 2.1-megapixel front facing camera,  3GB of RAM, 32GB of internal storage, a 3,220 mAh battery, support for LTE-A networks and Android 4.4.2 KitKat. The handset uses a metal chassis, so the manufacturer hasn’t compromised with the quality of the phone.

Pantech has only announced the handset in South Korea for the time being, with no word on whether it will make its way to global markets. Pricing details haven’t been disclosed either, but expect it to cost somewhere close to the Samsung Galaxy S5 which is one of its primary regional rivals. Interestingly, Samsung owns a 10% stake in Pantech since last year.

Pantech has always been a renowned figure in Korea and it will be crucial for the company to have a global presence as well in order to compete with major manufacturers. But given the limited resources at its disposal, that might be a slow process.