Samsung Electronics Co-CEO Han Jong-hee passed away suddenly due to a heart attack on Tuesday, March 25, at the age of 63. His unexpected death, just one day before he was scheduled to attend Samsung’s new home appliance launch event, has shocked the industry.
Han Jong-hee had been serving as Co-CEO since 2022, overseeing consumer electronics and mobile device businesses, and playing a key role in the global expansion of Samsung’s television business. Last week, during a shareholder meeting, he admitted that the company had not responded promptly to the AI chip trend, resulting in poor stock performance, and apologized to the shareholders.
Samsung has been lagging behind in the high-bandwidth memory (HBM) chip sector compared to SK Hynix and TSMC. In the AI chip market, Samsung’s competitiveness has been lacking, leading to a loss of its global leading position in the smartphone market.
Following Han Jong-hee’s sudden passing, Samsung announced that Jun Young-hyun, the head of the semiconductor division who was recently promoted to Co-CEO at the shareholder meeting last week, would become the sole CEO.
Analysts suggest that Han’s sudden death might impact Samsung’s strategic adjustments in marketing and home appliance business, especially in the face of challenges such as U.S. tariffs and global trade uncertainties. Samsung is also actively venturing into the automotive electronics market to seek new growth opportunities.
Samsung’s Chairman Jay Y. Lee attended a high-level China development forum this week and visited Xiaomi’s car factory and BYD headquarters, attracting attention from the public.
On the day of the news, Samsung’s stock price fell by 0.5%, aligning with the performance of the overall South Korean market.
(This article references relevant reports from Reuters)