Samsung  Electronics Co-CEO Han Jong-Hee passes away at 63

Samsung Electronics announced on Tuesday that its co-CEO, Han Jong-Hee, has passed away at the age of 63 due to cardiac arrest. Han played a crucial role in overseeing the company’s consumer electronics and mobile devices division, while his co-CEO, Jun Young-Hyun, managed the semiconductor business.  

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Despite his leadership, Samsung Electronics has faced challenges in recent quarters, struggling with weak earnings and declining share prices. The company has lost its edge in the advanced memory chip and contract manufacturing sectors, where competitors have surged ahead due to high demand from artificial intelligence projects. Additionally, Apple recently overtook Samsung as the global leader in smartphone sales.  

Han dedicated nearly 40 years to Samsung, primarily in its TV business, before becoming vice chairman and CEO in 2022. He was also a key member of the company’s board. Just last week, Han led Samsung’s annual shareholder meeting, where executives faced criticism over the company’s struggles to capitalize on the AI boom. Acknowledging concerns, Han apologized for the company’s poor stock performance, admitting that Samsung had failed to respond swiftly to the changing semiconductor landscape.  

Samsung also lags behind its rival, SK Hynix, in producing high-bandwidth memory (HBM) chips, which are essential for AI-powered graphics processing units. Han was scheduled to attend a major home appliance launch event on Wednesday. His passing marks a significant loss for the South Korean tech giant during a critical period of transformation.