Former Hynix chip group relaunched

October 6, 2004 – MagnaChip Semiconductor, the former nonmemory semiconductor operations of Hynix, officially has been relaunched in South Korea by Citigroup Venture Capital Equity Partners and Francisco Partners.

The business bought from Hynix in June for nearly $830 million, has five wafer fabs in Korea with production capacity of 110,000 200mm wafers/month; 2004 sales are projected at $1 billion. Customers include Haier, LG Electronics, LG Philips, NEC, Panasonic, BOE-Hydis, Samsung, and Sharp.

President and CEO Youm Huh said MagnaChip’s initial priorities will be establishing brand recognition, building R&D capabilities, and expanding customer relationships.


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