SEOUL, South Korea, Dec. 30, 2020 /PRNewswire/ -- Magnachip Semiconductor Corporation (NYSE: MX) ("Magnachip" or the "Company") today unveiled its new brand identity, designed to highlight the company's fresh start as a pure-play standard products company participating in the fast-growing, attractive Display and Power markets. Magnachip enters this new chapter of growth with a sharpened focus, renewed energy and clear mission of empowering the makers of tomorrow by accelerating the advancement of technology.

Over the past years, Magnachip has emerged as a significant supplier of choice for industry-leading technology companies in Display and Power markets based on a pioneering portfolio of premium products that have moved well beyond niche opportunities. The structural change into a fab-lite, pure-play standard products company significantly strengthens Magnachip's operational and financial foundation, which in turn will fuel innovation, propel growth and enhance responsiveness to customer requirements.

"I am proud of our amazing team at Magnachip, who have delivered a successful transformation while weathering unprecedented challenges presented by the COVID-19 pandemic," said YJ Kim, Magnachip's chief executive officer. "This structural change is an integral part of the new Magnachip, and the new brand identity symbolizes our profound commitment to technology advancement and customer support. From consumer electronics to industrial devices, our innovations improve the way people live, work, play and communicate. Together with our customers, we're powering the technology the world loves. Magnachip is Powering Magnificent Moments."

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 provides a broad range of standard products to customers worldwide. With more than 40 years of operating history, Magnachip owns a portfolio of approximately 1,200 registered patents and pending applications, and has extensive engineering, design and manufacturing process expertise. Please visit www.magnachip.com for more information. Information on or accessible from Magnachip's website is not a part of, and is not incorporated into, this release.

CONTACTS:

In the United States:
So-Yeon Jeong
Head of Investor Relations
Tel. +1-408-712-6151
Investor.relations@magnachip.com

In Korea:
Chankeun Park
Director of Public Relations
Tel. +82-2-6903-5223
chankeun.park@magnachip.com

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SOURCE Magnachip Semiconductor Corporation