It plans to launch one new foldable series device annually, and will target South Korea and the US first.
While the first foldable doesn't have an official name yet Korea's Yonhap news agency reports that it will be called the Galaxy F.
Industry analysts have estimated the cost of the device to be two million won, which converts to $1,770, making it one of the most expensive phones on the market. The latest figure is in line with previous estimates in the lead-up to last week's unveiling.
Samsung is said to be launching its new flagship Galaxy S10 in February, followed by a March timeframe for the Galaxy F launch. Ahead of that, Samsung may reveal more about the foldable at Mobile World Congress in February.
Koh told media last week it will "definitely launch" the foldable in the first half of next year.
Google is also adding support for foldable displays in Android to cater for more foldable devices, including Samsung's.
The Cover Display of the device Samsung is showing developers is 4.85 inches with a 21:9 aspect ratio and a resolution of 840x1,960 pixels, while the 7.3-inch Main Display has a 4.2:3 aspect ratio with 1,536x2,152-pixel resolution.