Samsung Electronics co-CEO, Han Jong-hee has died at the age of 63 after suffering a heart attack, the company announced.
Han spoke at the company’s annual shareholder meeting just last week, where he acknowledged Samsung’s struggling stock prices and apologized for the disappointing numbers.
Samsung said Han dedicated over 37 years of his life to the company, telling CNN that he helped foster growth during a ‘challenging business environment.’
The late CEO earned his degree in Electrical Engineering at Inha University in South Korea in 1988 before starting with the company.
Han worked his way up and took over Samsung’s research and development team in visual display business in 2011.
In 2022, he took over as Vice Chairman and CEO, overseeing the company’s Digital Appliances, which include electronics and mobile devices. He was also one of four executive directors on the company’s board.
‘Han was the key figure behind making Samsung’s TV business influential on a global scale,’ a Samsung analyst told Reuters.
‘With his sudden passing… there could have some long-term impact on its business strategy, particularly in areas like marketing.’
Samsung Electronics co-CEO, Han Jong-hee, 63, died in the hospital after suffering a heart attack
Han started at the company in 1988 and worked his way up to CEO and Vice Chairman, serving in these roles since 2022
Samsung has struggled financially, significantly lagging behind its main competitor, Apple in 2024
Jun Young-hyun, who was just appointed as co-CEO, will now take over as the sole CEO in the wake of Han’s death.
Jun was promoted last November to head up Samsung’s semiconductor division and was announced as a co-CEO at last week’s shareholder meeting.
Samsung has not yet revealed whether Jun will continue to serve in the position on his own, or whether a successor for Han’s position will be named.
The company typically has two CEOs, one who oversees Samsung’s consumer divisions while another heads up teams dedicated to developing computer chips.
Han’s death follows a difficult year for Samsung as the company struggled to successfully integrate the rise of artificial intelligence.
The company was one of the worst-performing tech stocks of the year and was down by 1.16 percent on Tuesday.
Samsung has also trailed behind its largest competitor, Apple, which has seen a rise in the stock market and is up by 1.37 percent.
Jun Young-Hyun has been named the sole CEO effective immediately in the wake of Han’s sudden death
Samsung executives apologized to shareholders at a meeting last week for disappointing numbers in 2024
Apple shipped more smartphones than Samsung did last year and reported a higher annual revenue.
Samsung is also facing challenges amid President Trump’s new tariffs. The company has a production base in Mexico, which is now subject to a 25 percent tariff.
At the company shareholder meeting last week, Han alongside the other Samsung executives predicted 2025 would continue to bring hardships under the new tariffs, Reuters reported.
Executives assured shareholders that Samsung would attempt to flexibly respond, but acknowledged the additional challenges the company faced.
