According to Chosunbiz, Mr. Han Jong-hee had health problems right after his daughter's wedding on March 22. He suffered a cardiac arrest and was taken to Seoul Samsung Hospital for emergency treatment, but did not survive.
He was scheduled to speak at a major Samsung event on March 26, but on March 24, the company announced a schedule change and assigned the task to someone else.
In an internal announcement, Samsung Electronics expressed regret at Mr. Han's passing, emphasizing his great contributions in his 37 years of service with the company. Under his leadership, Samsung's TV division has risen to the number one position in the world. Mr. Han's funeral will take place on March 27.
Mr. Han Jong-hee used to take on leadership positions in the mobile device and consumer electronics business. He is also the co-headquartered CEO of Samsung Electronics, along with Jun Young-hyun, who runs the chip business.
According to Reuters, on March 19, Mr. Han attended Samsung's annual meeting in Suwon, South Korea, where he admitted that the company's technological competitiveness has declined in recent years.
To improve the situation, he pledged to promote mergers and acquisitions (M&A) in 2025 to restore growth.
"M&A in the semiconductor sector is facing many difficulties due to national regulations and interests, but we are determined to achieve specific results this year," Mr. Han said at the meeting.
With the departure of the CEO and the challenges Samsung is facing, CEO Lee Jae-yong has sent an urgent message to thousands of senior executives, emphasizing that the company is facing a survive crisis.
"Samsung is facing the problem of survival of the one. We need to look back at ourselves deeply from the highest level. We have to invest in the future, even if it means sacrificing short-term profits," Lee stressed in an internal video.
