Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
(b)
On February 28, 2020, Jonathan Kim, Chief Financial Officer, Executive Vice President and Chief Accounting Officer of MagnaChip Semiconductor Corporation
(the Company), notified the Company of his intention to resign from the positions of Chief Financial Officer and Executive Vice President, to be effective March 27, 2020. Mr. Jonathan Kim also resigned his position as Chief
Accounting Officer, effective immediately, in connection with the appointment of a new Chief Accounting Officer described below. Mr. Jonathan Kims resignation was not due to any disagreement with the Company or any matter relating to the
Companys operations, accounting or other policies, or practices.
In connection with his resignation, the Company expects to enter into a customary
separation agreement with Mr. Jonathan Kim, which is expected to also provide for continuing consulting services for a period of up to two months following his departure, the terms of which are not yet available. Pursuant to the instructions to
Item 5.02 of Form 8-K, the Company will file a new or amended Form 8-K with respect to the terms of the separation agreement when such information is determined or
becomes available.
(c)
Effective February 28, 2020,
the Board of Directors of the Company (the Board) appointed Shinyoung Park as Chief Accounting Officer of the Company. Ms. Park will serve as the principal accounting officer of the Company, effective immediately.
Ms. Park, 39, joined the Company in April 2014, and has been serving as the Companys Corporate Controller since November 2018. Prior to joining the
Company, from 2005 to March 2014, Ms. Park served in various senior advisory and audit service positions at Deloitte, a public accounting firm. From 2005 to 2009, she worked at Deloitte & Touche in Chicago, Illinois; from 2009 to 2011
and then from 2013 to March 2014, she worked at Deloitte Anjin in Seoul, South Korea; and from 2011 to 2013, she worked at Deloitte in London, U.K. Ms. Park holds a B.A. degree in business administration from Sogang University, Seoul, Korea,
and a Masters degree in hospitality industry studies from New York University.
There are no arrangements or understandings between Ms. Park
and any other person pursuant to which she was appointed, nor are there are any family relationships between Ms. Park and any of the Companys directors or other executive officers. Ms. Park does not have any material interest in any
transactions, relationships or arrangements with the Company that would require disclosure under Item 404(a) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended (the
Exchange Act).
Effective upon Mr. Jonathan Kims resignation on March 27, 2020, the Board has appointed Theodore Kim, the
Companys Chief Compliance Officer, Executive Vice President, General Counsel and Secretary, to serve as principal financial officer of the Company on an interim basis. Mr. Theodore Kim is not expected to receive any additional
compensation at this time for his interim role.
Mr. Theodore Kim, 50, became our Chief Compliance Officer and Executive Vice President in May 2015,
and became our General Counsel and Secretary in November 2013. Mr. T. Kim previously served as our Senior Vice President from November 2013 to May 2015. Prior to joining our company, Mr. T. Kim served as Head Lawyer, Global Business
Development at Samsung Fire & Marine Insurance from October 2012 to October 2013. Mr. T. Kim was employed by Gibson, Dunn & Crutcher LLP, a law firm, from October 2005 to July 2012, serving most recently as Of Counsel. Prior
to that, he served as Foreign Legal Consultant at Kim & Chang, a law firm in Korea, from 2001 to 2005, and prior to that, he worked as an associate attorney at Morrison & Foerster LLP, a law firm, from 1997 to 2001. Mr. T. Kim
holds a B.A. degree in Economics and a B.S. degree in Mechanical Engineering from the University of California, Irvine, and a J.D. degree from the University of California, Los Angeles, School of Law.
There are no arrangements or understandings between Mr. Theodore Kim and any other person pursuant to which he was appointed, nor are there are any
family relationships between Mr. Theodore Kim and any of the Companys directors or other executive officers. Mr. Theodore Kim does not have any material interest in any transactions, relationships or arrangements with the Company
that would require disclosure under Item 404(a) of Regulation S-K promulgated under the Exchange Act.