Samsung Electronics co-CEO Jong-Hee Han died of a heart attack on Tuesday at the age of 63.
Han, who served as CEO and vice-chairman in 2022 and oversees the company's home appliances and smartphone division, died after being treated for cardiac arrest at a hospital, the company said.
“Our deepest pathetic dol means ours as well as his family and loved ones during this difficult time,” Samsung said.
Young Hyun Jun, who heads Samsung's computer chip and component division, will serve as the company's sole CEO after Han's death, the company said in a regulatory filing.
Samsung's stocks fell slightly on the Korean stock exchange after the announcement.
The tech giant has struggled to keep pace with its major rivals in computer chip development in recent quarter, as the sector has made large investments in artificial intelligence. Major rival Apple also passed Samsung and became the world's top smartphone seller in January.
Overall, Samsung's stocks have fallen by more than 20% from last year.
Han apologized at a shareholders meeting last week about Samsung's recent recession. He also vowed that Samsung will adapt to all the challenges posed by President Trump's tariff plans.
“First and foremost, I sincerely apologize for not meeting your expectations of recent stock performance. Over the past year, we have not been able to properly address the rapidly evolving AI semiconductor market,” Han said at the time.
A longtime Samsung executive, Han has been working for the company since 1988 and has been widely praised for helping transform the South Korean-based company into the world's top television manufacturer.
In April 2024, Samsung said it would double its investment in Texas to $44 billion while building new chip manufacturing capabilities in the state.
With post wire
