In a regulatory filing, Samsung confirmed that Jun, who was appointed co-CEO just last week during the annual shareholders’ meeting, will now oversee the entire company.
By Titilope Adako
Samsung Electronics has announced the sudden death of its co-CEO, Han Jong-hee, who passed away on Tuesday following a heart attack.
His demise leaves newly appointed Jun Young-hyun as the sole chief executive at a critical time for the company.
Han, 63, had led Samsung’s consumer electronics and mobile devices division since becoming CEO in 2022.
His passing comes as the South Korean tech giant struggles to regain its footing in the competitive semiconductor and smartphone markets.
In a regulatory filing, Samsung confirmed that Jun, who was appointed co-CEO just last week during the annual shareholders’ meeting, will now oversee the entire company.
Jun, who was promoted in 2024 to lead the semiconductor division, faces the challenge of closing the gap with rivals like SK Hynix and TSMC in the booming artificial intelligence chip sector.
Following the news of Han’s death, Samsung’s shares dropped by 0.5%, reflecting a broader decline in the South Korean stock market.
As the world’s largest memory chipmaker, Samsung has faced a turbulent period marked by declining earnings and a struggling share price, particularly in advanced chipmaking and contract manufacturing.
The company also recently lost its position as the top smartphone seller to Apple.
Han, who had worked at Samsung for nearly 40 years, played a key role in establishing the company’s dominance in the television market.
His passing is expected to have long-term strategic implications, particularly in marketing and the home appliance sector, which faces growing trade uncertainties.
During last week’s shareholder meeting, Han acknowledged the challenges ahead, stating, “2025 will be a challenging year.”
He assured shareholders that Samsung would adapt to new U.S. tariffs under President Donald Trump by leveraging its global supply chain.
His absence now raises concerns about Samsung’s ability to navigate ongoing geopolitical and economic challenges.
In the semiconductor sector, Samsung continues to lag behind SK Hynix in high-bandwidth memory (HBM) chips, which companies like Nvidia depend on for AI graphics processing units.
Han had previously apologised for Samsung’s struggles, saying, “I sincerely apologise for the recent stock performance not meeting your expectations.
Over the past year, our company failed to respond effectively to the rapidly evolving AI semiconductor market.”
He was set to attend Samsung’s launch event for new home appliances on Wednesday before his unexpected passing.
Meanwhile, Samsung chairman Jay Y. Lee, who is currently in China for the China Development Forum, was seen visiting Xiaomi’s car factory in Beijing and BYD’s headquarters in Shenzhen, according to local media reports and social media posts.
Samsung has declined to comment on Lee’s visit.
Lee has also faced legal battles over the past decade following his father Lee Kun-hee’s heart attack in 2014.
Although he was recently cleared of charges related to his succession of the family-owned conglomerate in February, prosecutors have appealed the court’s decision.
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