Samsung Electronics announced on Tuesday that co-CEO Han Jong-hee has died of a heart attack, leaving newly appointed chief executive Jun Young-hyun as the sole leader of South Korea’s largest company.
The unexpected loss comes as Samsung works to revamp its struggling semiconductor division and navigate ongoing trade uncertainties.
Han, 63, became CEO in 2022 and led the company’s consumer electronics and mobile devices division. He had been a key figure in shaping Samsung’s global television business over his nearly 40-year career. A company spokesperson confirmed that Han passed away at a hospital on Tuesday while receiving treatment for cardiac arrest. Samsung has yet to decide on his successor.
His passing comes just days after Jun was appointed co-CEO at Samsung’s annual shareholders meeting. Jun, who was promoted last year to lead the company’s semiconductor unit, now takes full control as Samsung struggles to catch up with rivals such as SK Hynix and TSMC in the fast-growing AI chip market.
Samsung’s stock slipped 0.5% following the announcement, in line with the broader South Korean market. The company has been grappling with declining earnings and a weakening share price, having lost ground in advanced memory chips and contract chip manufacturing. Additionally, it has ceded its position as the world’s top smartphone maker to Apple.
Han’s sudden passing could have long-term implications for Samsung’s business strategy, particularly in marketing and its consumer electronics segment. Analysts also warn that it may impact efforts to improve the company’s home appliance division, which faces mounting challenges from trade restrictions and tariff uncertainties.
Samsung has traditionally maintained a co-CEO structure, dividing leadership between its semiconductor and consumer businesses. With Han’s passing, the company now faces critical decisions on restructuring its executive leadership while tackling intensifying global competition.
