(Bloomberg) — Samsung Electronics Co. co-Chief Executive Officer Han Jong-Hee, who is credited for growing the Korean conglomerate into the world’s top electronics company, has died. He was 63.
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The executive died Tuesday after suffering a cardiac arrest episode earlier, a spokesperson for the company said. He is survived by his wife and three children. Samsung stock dipped initially before recouping losses in Seoul.
Han, a company veteran who began his career in the displays division more than three decades ago, was instrumental in displacing Japanese rivals such as Sony Group Corp.
“His contribution to the consumer electronics business cannot be overstated,” said Sanjeev Rana, an analyst at CLSA Securities Korea. “Under his leadership, Samsung’s TV business especially has maintained a very strong market position over the last two decades.”
Han played an “overall supervisory role” on the company’s smartphone business, Rana said, with Samsung’s hands-on mobile division head, TM Roh, taking a leading role.
Han’s personal motto was “eternal No. 1” and he was known for his strong work ethic and determination to overcome challenges, an embodiment of Samsung’s culture.
After being promoted to vice chairman in 2021, he led the so-called the Device Experience division, overseeing Samsung’s TV, home appliances and smartphone businesses.
Most recently, Han took charge of efforts to integrate AI into most of Samsung’s products in anticipation of a boom in artificial intelligence features for everyday use. Under his leadership, the company has installed AI chips in its fridges, washing machines and vacuum cleaners.
During an interview with Bloomberg News in January, Han emphasized Samsung’s unique market position as a leader in not just mobile devices but also home appliances to accelerate smart home technology around the world. He said Samsung wants to better connect the half-billion devices it sells each year to help make up for missteps that have cost it the lead against big tech rivals in areas such as top-end memory and generative AI.
His death comes at a crucial juncture for the company. The rapid rise of Chinese electronics brands, offering competitive features at lower prices, is posing a significant threat to Samsung’s market dominance. The Korean company is also trying to catch up with SK Hynix Inc. in AI memory and fend off rivals from the US and China.
