According to the publication, the Galaxy Note 3 will feature a huge 6.3in display, expanding its smartphone/tablet hybrid, dubbed the "phablet" category.
Although critics initially mocked the 5.3in display size of the original Galaxy Note, decent sales of the handset lead to Samsung launching the bigger 5.5in Galaxy Note 2 earlier this year which has sold more than five million units in just two months.
Samsung has been pushing the Note 2 smartphone/tablet hybrid as a complement to the hugely successful Galaxy S3, which has sold more than 30 million units since its launch.
Other smartphone manufacturers are now launching their own "phablet" devices.
Last week, Chinese firm Huawei confirmed that it will release the 6.1in Huawei Ascend Mate sometime next year as a direct rival to take on the Samsung Galaxy Note 2.
The Korea Times also predicted that Samsung will unveil the Galaxy S4 at Mobile World Congress in February.