Samsung Electronics co-CEO Han Jong-Hee has passed away at the age of 63 due to cardiac arrest, the company confirmed on Tuesday. Han, who had been with Samsung for over 37 years, played a crucial role in the company’s growth, particularly in the consumer electronics and mobile devices sectors. He was appointed vice chairman and CEO in 2022, overseeing key divisions such as televisions and home appliances. Following his passing, his co-CEO, Jun Young-Hyun, who was recently appointed to lead the semiconductor business, will now become the company’s sole CEO. In a tribute, Samsung described Han as a leader who was instrumental in making the company’s TV business a global leader, contributing significantly despite economic challenges.
Samsung has been facing difficulties in recent years, especially in its semiconductor division. The company has struggled to compete with Taiwan Semiconductor Manufacturing Company (TSMC) in advanced chip production and customer acquisition. Additionally, Samsung has fallen behind South Korean competitor Hynix in high-bandwidth memory (HBM) chip technology, a crucial component for graphics processing units (GPUs) used by companies like Nvidia. The company’s struggles in the semiconductor market have contributed to a decline in its share price. During his final investor meeting, Han apologized for Samsung’s stock performance and warned of a challenging 2025, citing global economic uncertainties. He also indicated that Samsung was considering mergers and acquisitions to drive growth, despite regulatory hurdles.
Han joined Samsung in 1988 after earning a degree in electrical engineering from Inha University. Before leading the electronics and devices division, he was in charge of Samsung’s display operations, where he played a key role in introducing LED TV technology. His leadership in product innovation helped the company maintain its status as an industry leader. His sudden passing is a significant loss for Samsung as it navigates market competition and economic headwinds. Samsung expressed condolences to Han’s family and reiterated his invaluable contributions to the company’s success. With Jun Young-Hyun now in charge, the company is expected to continue Han’s strategic vision while tackling ongoing industry challenges.
blogpay
Total Comments: 0