Samsung Electronics stated on Tuesday that its co-CEO, Han Jong-hee, had died of a coronary heart assault, leaving newly appointed boss Jun Younger-hyun solely in command of the tech large because it revamps its underperforming chip enterprise and navigates commerce uncertainties.
Han, 63, grew to become CEO of South Korea’s greatest firm in 2022 and was additionally in command of its shopper electronics and cell units division.
Jun was appointed as Samsung’s co-CEO simply final week at its annual shareholders assembly following his promotion in 2024 to guide its semiconductor division, which has been lagging rivals like SK Hynix and TSMC within the world synthetic intelligence chip market.
Samsung stated in a inventory change submitting that Jun can be the only CEO of the corporate after Han’s loss of life.
The world’s greatest reminiscence chip maker has been affected by weak earnings and a sagging share value in latest quarters after falling behind rivals in superior reminiscence chips and contract chip manufacturing, which have loved sturdy demand from AI initiatives. Samsung has additionally ceded its smartphone market crown to Apple.
Han, who was additionally a board member, handed away at a hospital on Tuesday whereas being handled for cardiac arrest, an organization spokesman stated. Samsung has not but selected a successor, the spokesman added.
The corporate has historically had a co-CEO construction that divides oversight of its shopper and chips divisions. Han joined Samsung practically 40 years in the past and constructed his profession in its tv enterprise.
Key determine
“Han was the important thing determine behind making Samsung’s TV enterprise influential on a world scale,” stated an analyst who declined to be recognized because of the sensitivity of the topic. “Together with his sudden passing … there might have some long-term influence on its enterprise technique, notably in areas like advertising and marketing.”
Han’s absence might additionally probably have an effect on Samsung’s efforts to enhance the efficiency of its residence equipment division at a time when it has to cope with uncertainties involving tariffs and escalating commerce wars, the analyst stated.
Learn: Samsung provides AI to world’s top-selling TV line-up
On the shareholder assembly Han chaired final week, he advised buyers that 2025 can be a tough 12 months and Samsung would flexibly reply to US President Donald Trump’s tariffs with its world provide chain and manufacturing footprints.
He and different executives have been grilled by shareholders on the assembly after the corporate’s failure to journey an AI growth made it one of many worst-performing tech shares final 12 months.
In semiconductors, Samsung lags behind SK Hynix in so-called excessive bandwidth reminiscence chips that Nvidia and others depend on for AI graphic processing models.
“In the beginning, I sincerely apologise for the latest inventory efficiency not assembly your expectations. Over the previous 12 months, our firm didn’t adequately reply to the quickly evolving AI semiconductor market,” Han stated. He was scheduled to attend Samsung’s launch occasion for brand new residence home equipment on Wednesday.
Sources have stated Samsung can be looking for to develop its presence within the automotive electronics market to drive new development.
Samsung chairman Jay Y Lee, who’s in China this week to attend the China Growth Discussion board, visited Xiaomi’s automotive manufacturing facility in Beijing and BYD’s headquarters in Shenzhen, in line with pictures posted on Chinese language social media app and native media reviews.
Samsung declined to touch upon Lee’s journey to China.
Lee has been dogged by lawsuits and scandals for the previous decade, after his father Lee Kun-hee had a coronary heart assault in 2014. In February, he was cleared of expenses in a case associated to his succession of the family-owned conglomerate, however prosecutors appealed to the court docket determination. — Hyunjoo Jin, Heekyong Yang, Hyunsu Yim and Brenda Goh, (c) 2025 Reuters
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