MagnaChip no longer seeks transfer of operating rights
Apr. 17, 2023 /SemiMedia/ — According to reports, MagnaChip CEO Kim Youngjoon recently stated that he has stopped considering the sale of MagnaChip after the cooperation with the capital company was forced to terminate.
The report pointed out that MagnaChip’s revenue fell by 28.8% to US$337 million last year due to the sluggish demand in markets such as display driver ICs. Kim said that last year’s poor performance was due to production difficulties caused by the shortage of foundry capacity.
Kim said that MagnaChip plans to significantly expand the power Semiconductor business currently mainly produced at the Gumi plant, and plans to increase the monthly output of power semiconductors to 46,000 pieces by 2025 to cope with the rapidly growing demand for power semiconductors for industrial and vehicle use.
In addition, Kim also mentioned automotive power semiconductors. “We entered the automotive power semiconductor market in 2015, and last year we won AEC-Q101 certification for automotive discretes, and we are supplying semiconductors to major automotive companies,” Kim said.
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