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Business Continuity Planning (BCP) is an integral and systematic approach for identifying MagnaChip’s exposure to internal and external critical risks to provide effective prevention and recovery and to ensure that MagnaChip to continue its critical business operations during times of unexpected crises events or disasters. MagnaChip maintains a Business Continuity Management Plan with detailed processes for addressing unexpected situations that threaten the safety and security of our employees and assets and our ability to meet our obligations to customers, suppliers, shareholders and communities.

1. Management Commitment
  • · Our management has ownership of the Business Continuity Management Plan, and reviews the Plan on a regular and as-needed basis.
2. Continuous Risk Assessment
  • · We assess and manage risks continuously, and we identify critical risks through business impact analyses
3. Working Process
  • · We prepare recovery and damage mitigation plans in response to identified critical risks.
  • · We standardize operational processes and manuals related to BCP and keep them regularly updated.
4. Preparedness
  • · On a regular basis, we practice emergency drills, offer employee training and campaigns related to critical business continuity risks, and take preventive actions when needed.
Our Commitment

Although MagnaChip has established and developed a Business Continuity Management Plan, we cannot guarantee that our plan will operate perfectly given the unexpected and complicated business environment we face. MagnaChip is committed to making best efforts to operate its business continuously in the event of a crisis situation and to protect its customers, suppliers, shareholders and communities to the greatest extent possible.