It may not match the iPhone 4S's 64GB of storage, but it does come with 20GB, which isn't to be sniffed at. And the processor wipes the floor with Apple's newest, clocking in at 1.5GHz dual-core to the iPhone 4S's 1GHz.
The Optimus LTE also comes packing LTE tech, as the name suggests, though us Brits won't be able to take advantage of the improved speeds this enables for a while yet.
It's running Android 2.3 Gingerbread, and has just been announced for Korea. There's no word on a UK release, but we'll let you know if this changes.