Samsung's co-CEO Han Jong-hee has sadly passed away aged 63 on Tuesday, March 25, 2025.
Han became the electronic giant's chief executive officer in 2022, having previously been appointed vice chairman of the company and led the Device Experience division which oversees TV, home appliances, and smartphones, as reported by Bloomberg.
Having been at the company for nearly four decades, Han originally began in Samsung's displays division before working his way up through the ranks to eventually reach his current role as co-CEO with Jun Young-hyun.
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Samsung is currently yet to decide on a successor to Han's role, and therefore Jun remains in sole charge of the company for the time being, despite only being appointed as co-CEO alongside Han last week at the annual shareholders meeting.
He passed away after suffering a cardiac arrest and is survived by his wife and three children.
Many believe that Han played a key role in catapulting Samsung into the global technology giant it is today, overtaking key rivals such as Sony in his ascent up the company.
It is currently the 41st most valuable public company in the world with a market cap of $261.52 billion, although the value has more than halved since a peak in January 2021, when Samsung was valued at $553 billion.
This decline can be attributed to underperforming chips and lackluster AI performance relative to its close rivals in the technology space, as reported by Reuters, which has led them to fall behind in the market.
Samsung has also lost its dominance in the smartphone market to Apple, although it remains one of the three big contenders alongside Google.
Shares in the company did see a 0.5% decline following the news of Han's passing, although they have slightly rebounded and experts indicate that this was also in line with broader market trends across South Korea.
Regardless, Han was an important part of Samsung's dominance across all general electronics, as unlike many other major tech companies it manufacturers across communication, entertainment, and home appliances.
CLSA Securities Korea analyst Sanjeev Rana has outlined the impact that Han Jong-hee has now left on the technology industry, arguing that "his contribution to the consumer electronics business cannot be overstated.
"Under his leadership, Samsung's TV business especially has maintained a very strong market position over the last two decades," and the same can very much be said for other vital areas of the industry.