Following a cardiac arrest, Samsung co-CEO Han Jong-hee dies at 63, leaving Jun Young-hyun in charge. Facing mounting challenges in semiconductors, smartphones, and global trade, what lies ahead for the tech giant?
Samsung Electronics announced on Tuesday that co-CEO Han Jong-hee had passed away from a heart attack, leaving Jun Young-hyun, who was recently appointed co-CEO, as the sole head of the company.
Jun, who took on the role of co-CEO just last week, was promoted in 2024 to lead Samsung’s semiconductor division, which has faced challenges in competing with rivals such as SK Hynix and TSMC in the rapidly growing AI chip market.
Han, 63, has served as co-CEO of Samsung since 2022, overseeing the consumer electronics and mobile device divisions. He was instrumental in transforming Samsung’s TV business to lead globally. His unexpected death has raised concerns about potential long-term impacts on Samsung’s strategy, particularly in marketing and its home appliance division.
According to Reuters, a company spokesperson confirmed that Han passed away at a hospital while receiving treatment for cardiac arrest, but no decision has been made regarding his successor.
Samsung has struggled recently, particularly in its semiconductor business, falling behind competitors in advanced memory chips and contract chip manufacturing. The company also faces increasing competition in the smartphone market, where it has lost its top position to Apple.
The tech giant’s stock fell 0.5%, mirroring broader declines in the South Korean market.
The wake of Han’s passing could further complicate Samsung’s attempts to recover from weak earnings and a sagging share price.
During the recent shareholders meeting, Han expressed concerns about 2025, warning investors that it would be a challenging year. Samsung would need to adapt to changing global trade dynamics, particularly with the tariffs imposed by the US under President Donald Trump.
At the same meeting, Han apologised for Samsung’s poor stock performance, admitting that the company had struggled to capitalise on the AI semiconductor boom. He was scheduled to attend an event to unveil new home appliances but did not make it due to his sudden passing.
Samsung’s chairman, Jay Y. Lee, currently in China for the China Development Forum, has been exploring new growth areas for Samsung, including the automotive electronics market.
However, his tenure has been marred by legal and family issues, although he was recently cleared of charges related to his succession of the conglomerate.
