MagnaChip Appoints Sang Park President & Chief Executive Officer

MagnaChip Semiconductor, one of the world's leading semiconductor manufacturers, today announced that Sang Park has joined the company as President and Chief Executive Officer to reinvigorate the company's growth and profitability. Mr. Park is a 30-Year semiconductor and electronics industry veteran, having held positions with Hynix, IBM and Hewlett Packard. He replaces Dr. Youm Huh, MagnaChip's former President and CEO, who will become a senior advisor to the company.

Immediately before joining MagnaChip, Mr. Park served as an executive fellow for iSuppli. Before joining iSuppli, Mr. Park was at Hynix from 1999- 2003, where he joined as the Chief Operating Officer and President of the Semiconductor division, including both the memory and system IC businesses, and was promoted to CEO in 2002. Prior to his roles at Hynix, Mr. Park was Vice President of Procurement Engineering at IBM from 1995-1999 and worked at Hewlett Packard from 1979-1995, in roles of increasing responsibility spanning R&D, Operations, and Marketing.

Jerry Baker, Chairman of the Board commented, "On behalf of the Board of Directors, I would like to thank Dr. Huh for his leadership and invaluable contributions in establishing MagnaChip as an independent entity. As we now move into a new phase in the company's evolution, we are pleased to have such a proven executive join our team. Mr. Park's distinguished 30-year career in the semiconductor and electronics industry makes him uniquely qualified to lead our employees to our next stage of growth in serving our global customers."

Mr. Park said, "I am excited to join MagnaChip with my primary objective being to help the company more fully realize its growth potential. The company has an impressive global customer base, far reaching intellectual property portfolio, world-class employees, and great opportunities as it is positioned in high volume consumer markets with excellent expansion prospects."

About MagnaChip Semiconductor

MagnaChip Semiconductor is a leading designer, developer and manufacturer of mixed-signal and digital multimedia semiconductors addressing the convergence of consumer electronics and communications devices. We focus on CMOS image sensors and flat panel display drivers, which are complex, high performance, mixed signal semiconductors that capture images and enable and enhance the features and capabilities of both small and large flat panel displays. MagnaChip also provides wafer foundry services utilizing CMOS high voltage, embedded memory, analog and power process technologies for the manufacture of IC's for customer-owned designs. MagnaChip has world-class manufacturing capabilities and an extensive portfolio of approximately 11,900 registered and pending patents. As a result, MagnaChip is a valued partner in providing leading technology solutions to its customers worldwide. For more information, visit http://www.magnachip.com.

CONTACTS:

In Korea: In the U.S.:

Youngjae Chang, PR Manager David Pasquale, EVP at The Ruth Group

Tel: 82-2-3459-5884 Work: +646-536-7006

youngjae.chang@magnachip.com Cell: +917-921-8031

dpasquale@theruthgroup.com

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