Looks like Samsung is readying a video conferencing feature of their own. Samsung recently filed a document at the Korean Intellectual Property Rights Information Service giving us a glimpse of what they are planning.
From the image above, you can see that it supports multiple people along with video from either the front-facing or rear-facing camera. I suspect this would be part of a ChatON update and could debut on the Galaxy S 5.
Of course, one has to wonder why we would need yet another app like this, but you know Samsung…they love to take other apps and give it their own spin to create differentiation. It’s obvious they are trying to get people to use ChatOn instead of Hangouts since they just added SMS/MMS support to it. This is just the next step.