MagnaChip Announces CEO Transition

                      MagnaChip Announces CEO Transition

Sang Park Retires as Chairman and Chief Executive Officer

Board Appoints Executive Vice President YJ Kim as Interim CEO

R. Douglas Norby Named Non-Executive Chairman

PR Newswire

SEOUL, South Korea and CUPERTINO, Calif., May 20, 2014

SEOUL, South Korea and CUPERTINO, Calif., May 20, 2014 /PRNewswire/
--MagnaChip Semiconductor Corporation ("MagnaChip") (NYSE: MX), a Korea-based
designer and manufacturer of analog and mixed signal semiconductor products,
today announced that Sang Park, 67, has retired as Chairman, Chief Executive
Officer and Director, effective immediately.

The Board has appointed Young-Joon (YJ) Kim, MagnaChip's Executive Vice
President and General Manager of the Display Solutions Division, to serve as
interim Chief Executive Officer. Mr. Kim, a 25-year veteran of the
semiconductor industry, will also retain his existing responsibilities.
MagnaChip's Board also has separated the roles of Chairman and CEO and
appointed R. Douglas Norby, Chairman of the Audit Committee, to the position
of non-executive Chairman.

"On behalf of the entire Board, I want to thank Sang for his many years of
service and dedication to MagnaChip," said Mr. Norby. "We are pleased to have
an executive of YJ's caliber to lead MagnaChip as we conduct a search for a
new CEO," added Mr. Norby. "YJ is well respected by our customers, suppliers,
employees and other key stakeholders. The Board has great confidence in his
abilities and we know that our operations will be in capable hands during this
transition period."

"I appreciate the trust that the Board has placed in me during this important
time," said Mr. Kim. "I look forward to working with our team to ensure that
we continue to provide customers and suppliers with the high quality products
and service that they have come to expect from MagnaChip."

The Board will immediately begin the search for a permanent CEO and will be
engaging a prominent international search firm to lead the recruitment effort.

R. Douglas Norby's Biographical Information
Mr. Norby has been a member of MagnaChip's Board of Directors and the Chairman
of the Audit Committee since March 2010 and also served in these roles from
May 2006 to October 2008. Mr. Norby served as Senior Vice President and Chief
Financial Officer of Tessera Technologies, Inc., a public semiconductor
intellectual property company. He also was Chief Financial Officer of
Zambeel, Inc., a data storage systems company, and Senior Vice President and
Chief Financial Officer of Novalux, Inc., an optoelectronics company. Prior
to his tenure with Novalux, Inc., Mr. Norby served as Executive Vice President
and Chief Financial Officer of LSI Logic Corporation. Mr. Norby also
previously served as President and Chief Operating Officer of Lucasfilm Ltd.,
a film and entertainment company. Mr. Norby is a Director of Alexion
Pharmaceuticals, Inc., STATS ChipPAC Ltd., Invensense Inc. and Singulex, Inc.
(a private company). Mr. Norby received a B.A. degree in Economics from
Harvard University and an M.B.A. from Harvard Business School.

YJ Kim's Biographical Information
Mr. Kim has served as MagnaChip's Executive Vice President and General Manager
of Display Solutions Division since May 2013. He joined MagnaChip from
Cavium, Inc., where he was Vice President of the Infrastructure Processor
Division and General Manager of the Multi-core Processor Group. Prior to
Cavium, he was Core Team Lead and GM at Intel Corporation, where he also held
various other management positions in the marketing and business development
organizations. Earlier in his career, Mr. Kim served as Director of Marketing
at Samsung Semiconductor, Inc. in San Jose. He holds Bachelor of Science and
Master of Engineering in Electrical Engineering degrees from Cornell
University.

About MagnaChip Semiconductor
Headquartered in South Korea, MagnaChip Semiconductor is a Korea-based
designer and manufacturer of analog and mixed-signal semiconductor products
for high volume consumer applications. MagnaChip Semiconductor believes it has
one of the broadest and deepest range of analog and mixed-signal semiconductor
platforms in the industry, supported by its 30-year operating history, a large
portfolio of registered and pending patents and extensive engineering and
manufacturing process expertise. For more information, please visit
www.magnachip.com.

Safe Harbor for Forward-Looking Statements
Information in this release regarding MagnaChip's forecasts, business outlook,
expectations and beliefs are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 that involve risks and
uncertainties. All forward-looking statements included in this release are
based upon information available to MagnaChip as of the date of this release,
which may change, and we assume no obligation to update any such
forward-looking statements. These statements are not guarantees of future
performance and actual results could differ materially from our current
expectations or beliefs.

MagnaChip Contacts:
In the United States            In Korea
Robert Pursel                  Chankeun Park
Director of Investor Relations Senior Manager of Public Relations
Tel. +1-408-625-1262           Tel. +82-2-6903-3195
robert.pursel@magnachip.com     chankeun.park@magnachip.com

SOURCE MagnaChip Semiconductor Corporation

Website: http://www.magnachip.com
 
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