Samsung Electronics announced on Tuesday that co-CEO Han Jong-hee passed away from a heart attack, leaving Jun Young-hyun as the sole CEO.
Jun, who was appointed co-CEO just last week after taking charge of Samsung’s semiconductor division, will now oversee the company as it works to turn around its struggling chip business and navigate trade uncertainties.
Han, 63, became CEO in 2022 and was responsible for Samsung’s consumer electronics and mobile devices divisions.
Jun’s promotion comes as Samsung faces challenges in the semiconductor market, particularly in the artificial intelligence chip sector, where competitors like SK Hynix and TSMC have outpaced them.
Samsung’s announcement noted that Jun would assume full CEO responsibilities following Han’s sudden death at the hospital. Despite this leadership change, Samsung’s stock fell 0.5%, in line with the broader market. Samsung has struggled in recent quarters due to weak earnings and falling behind competitors in advanced memory chips and AI-driven chip manufacturing. Additionally, the company lost its smartphone market leadership to Apple.
Han, who had been with Samsung for nearly four decades, was a key figure in the success of its global TV business. His unexpected death could have long-term implications for Samsung’s strategy, particularly in marketing and home appliances, an area where the company faces trade challenges. Han had expressed concerns over 2025 being a difficult year for Samsung, citing the impact of U.S. tariffs and the company’s underperformance in the AI semiconductor market. Despite this, Samsung has plans to expand into the automotive electronics sector for future growth.
Samsung Chairman Jay Y. Lee, currently in China, has also been exploring opportunities in the automotive market, visiting car factories in Beijing and Shenzhen.
