R&D Leader Joins MagnaChip as VP of SoC Engineering

SEOUL, South Korea, March 26 /PRNewswire/ -- MagnaChip Semiconductor, Ltd., a leading provider of analog and mixed signal semiconductor products for high volume consumer applications, today, announced that Dr. Ilia Ovsiannikov has joined the company as Vice President of SoC Engineering in the Imaging Solutions Division. Dr. Ovsiannikov will head MagnaChip's US R&D, including its newly opened Image Signal Processing Advanced Research Center located in Pasadena, California and design center in Sunnyvale, CA.

Reporting to Robert Krakauer, President of MagnaChip, Dr. Ovsiannikov will focus on development and delivery of next-generation image enhancement and processing technologies and architectures for CMOS image sensor customers in the various end markets MagnaChip serves, including mobile phones, PCs, notebook computers, and security applications.

"MagnaChip's imaging solutions business grew 144.5% from the fourth quarter of 2006 to the fourth quarter of 2007. We are pleased to announce that Dr. Ovsiannikov has joined MagnaChip, as we continue to drive growth in our imaging solutions business going forward. In Dr. Ovsiannikov I have found both a technology visionary and a results-oriented leader with a proven track record in driving product development and realization. I expect that he will play a pivotal role as we work together to drive our next-generation image sensors," said Mr. Krakauer.

Previously, Dr. Ovsiannikov worked at Micron, where his most recent position was R&D manager and architect in Imaging. He has filed more than 20 patent applications in the areas of noise reduction, camera functions, defect correction, contrast enhancement, lens shading, and CMOS pixel technology, among others. Prior to Micron, Dr. Ovsiannikov was a research scientist at Rockwell Scientific and Photobit. Dr. Ovsiannikov received a BS, cum laude, in Computer Engineering from MIREA Moscow State Technical University, as well as an MS and PhD in Computer Science from the University of Southern California.

About MagnaChip Semiconductor

Headquartered in Seoul, South Korea, MagnaChip Semiconductor is a leading, Asia-based designer and manufacturer of analog and mixed-signal semiconductor products for high volume consumer applications, such as mobile phones, digital televisions, flat panel displays, notebook computers, mobile multimedia devices and digital cameras. The Company has a broad range of analog and mixed-signal semiconductor technology, supported by its 28-year operating history, large portfolio of registered and pending patents and extensive engineering and manufacturing process expertise. For more information, visit www.magnachip.com.

Forward-Looking Statements:

Certain statements contained in this press release contain forward-looking statements regarding MagnaChip Semiconductor's operations, economic performance and financial condition. Although MagnaChip Semiconductor believes that the expectations reflected in these statements are reasonable, no assurance can be given that such expectations will prove to have been correct as a result of many factors, including those described in our annual report on Form 10-K for the year ended December 31, 2006, which was filed with the Securities and Exchange Commission on March 30, 2007.

    Press Contacts:

    In Korea:
    Mi-Jeong HAN, PR Manager
    Tel: 82-2-6903-3195
Email Contact

    In the U.S.:
    Joseph Villalta, The Ruth Group
    Tel: +646-536-7003
Email Contact

Web site: http://www.magnachip.com/

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