Fourth Quarter 2017 and Recent Company Highlights
MagnaChip:

• Developed a multi-level thick IMD (Inter-Metal Dielectric) process for a capacitor with ultra-high breakdown voltage, which is useful for electric vehicles and for applications in the industrial, communications and healthcare markets.
• Announced it now offers a 0.35-micron 700V Ultra-High Voltage process technology (UHV) that reduces mask counts, manufacturing time and cost for power-related AC-DC products. This UHV process technology offers 700V nLDMOS, 700V JFET, and 5.5V CMOS devices suitable for manufacturing AC-DC converter ICs and LED driver ICs.
• Hosted its annual Foundry Technology Symposium in Hsinchu, Taiwan in October 2017 to showcase the Company's latest technology offerings and provide a wide-ranging overview of its manufacturing capabilities, specialty technologies, target applications and end-markets. The event drew record attendance.

First Quarter 2018 Business Outlook
For the first quarter of 2018, MagnaChip anticipates:

• Revenue to be in the range of $158 million to $164 million, down sequentially 7.8% at the mid-point of the projected range, due to typical seasonal factors and ongoing portfolio optimization activities. The guidance for the first quarter compares with revenue of $174.6 million in the fourth quarter of 2017 and $161.7 million in the first quarter of 2017.
• An increase in silicon wafer prices, a lower fab utilization rate due to seasonal factors and product portfolio optimization activity will result in gross profit margin to be in the range of 26% to 28%. This compares to 28.3% in the fourth quarter of 2017, and 25.7% in the first quarter of 2017.

Fourth Quarter 2017 Conference Call
MagnaChip will hold a conference call on February 6 at 5 p.m. EST to discuss the fourth quarter and 2017 financial results. The conference call will be webcast live and also is available by dialing toll-free at 1-844 536-5472. International call-in participants can dial toll-free at 1-614-999-9318.

The conference ID number is 5392748. Participants are encouraged to initiate their calls at least 10 minutes in advance of the 5 p.m. EST start time to ensure a timely connection. The webcast and earnings release will be accessible at www.magnachip.com. A replay of the conference call will be available the same day and will run for 72 hours. The replay dial-in numbers are 1-404-537-3406 or toll-free at 1-855-859-2056. The access code is 5392748.

About MagnaChip Semiconductor Corporation
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 over 30 years of operating history, owns a portfolio of approximately 3,200 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.

Safe Harbor for Forward-Looking Statements
Information in this release regarding MagnaChip's forecasts, business outlook, expectations and beliefs are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements include statements about our future operating and financial performance, including first quarter 2018 revenue and gross profit expectations. All forward-looking statements included in this release are based upon information available to MagnaChip as of the date of this release, which may change, and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include general economic conditions, the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new products and technologies, ability to ramp new products into volume production, industry wide shifts in supply and demand for semiconductor products, industry and/or company overcapacity, effective and cost efficient utilization of manufacturing capacity, financial stability in foreign markets and the impact of foreign exchange rates, unanticipated costs and expenses or the inability to identify expenses which can be eliminated, compliance with U.S. and international trade and export laws and regulations by us and our distributors, and other risks detailed from time to time in MagnaChip's filings with the SEC, including our Form 10-K filed on February 21, 2017 and subsequent registration statements, amendments or other reports that we may file from time to time with the SEC and/or make available on our website. MagnaChip assumes no obligation and does not intend to update the forward-looking statements provided, whether as a result of new information, future events or otherwise.