SEOUL, South Korea and
SAN JOSE, Calif., May 21, 2020 /PRNewswire/ -- MagnaChip
Semiconductor Corporation ("MagnaChip" or the "Company") (NYSE: MX)
today announced that it has appointed Mr. Young Soo Woo as Chief Financial Officer of the
Company, effective as of May 25,
2020. Mr. Woo joins MagnaChip from CoreeGroup, where he was
the Chief Executive Officer.
Mr. Woo is a seasoned financial executive with more than 15
years of senior leadership experience. Before CoreeGroup, from
April 2017 to August 2019, Mr. Woo served as the Group Chief
Financial Officer of Chong Kun Dang Holdings Corporation ("CKDH"),
a public company and leading Korean pharmaceutical conglomerate,
and also served as its Chief Executive Officer from March 2018 to August
2019. Mr. Woo has also served in various management
positions at technology and manufacturing companies, including as
Head of Strategic Planning Office and Deputy Head of Finance Office
of Korea Telecom, one of the largest telecom companies in Korea,
and as Chief Strategy Officer and Chief Operating Officer of
Hankook Tire. Mr. Woo also worked at Hanaro Telecom, one of
the largest broadband Internet access providers in South Korea, as Managing Director, Corporate
Strategy. While at Hanaro Telecom, Mr. Woo played a key
role in its initial listing on NASDAQ in 2000. Mr. Woo
has extensive experience in financial planning and analysis, cost
control, strategy, mergers and acquisitions, initial public
offerings and risk management. Mr. Woo will report to YJ Kim,
MagnaChip's Chief Executive Officer.
"Young Soo's demonstrated skills
in driving operational excellence and broad experience in strategic
planning and financial analysis will be a significant asset for
MagnaChip as we continue to execute our plan for sustainable and
profitable growth," said YJ Kim. "I'm very pleased to welcome him
to our leadership team as we transition to a streamlined company
focused exclusively on products in the Display and Power
semiconductor segments."
"I'm honored and excited to join the MagnaChip team," said Mr.
Woo. "The company has highly differentiated product portfolios and
a solid business pipeline, and I look forward to leveraging my
operational experience to help enhance profitability and increase
shareholder value."
Mr. Woo earned a B.A. degree in Economics from the Seoul
National University and received his
M.A. and Ph.D. in Economics from Cornell
University.
About MagnaChip Semiconductor
MagnaChip is a designer
and manufacturer of analog and mixed-signal semiconductor platform
solutions for communications, IoT, consumer, industrial and
automotive applications. The Company's Standard Products Group and
Foundry Services Group provide a broad range of standard products
and manufacturing services to customers worldwide. MagnaChip, with
more than 40 years of operating history, owns a portfolio of
approximately 2,950 registered patents and pending applications,
and has extensive engineering, design and manufacturing process
expertise.
For more information, please visit www.magnachip.com.
Information on or accessible through MagnaChip's website is not a
part of, and is not incorporated into, this release.
CONTACTS:
In the United States:
So-Yeon Jeong
Investor Relations
Tel: +1.408-712-6151
Bruce Entin
Investor Relations
Tel. +1.408.625.1262
Investor.relations@magnachip.com
In Korea:
Chankeun Park
Director, Public Relations
Tel. +82.2.6903.3195
chankeun.park@magnachip.com
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SOURCE MagnaChip Semiconductor Corporation