Seoul, Korea, March 30, 2001
hynix Semiconductor Inc. (formerly Hyundai Electronics) announced today that it has increased independent representation on its board of directors to enhance its focus on management supervision by board members and has obtained approval to change its name from Hyundai Electronics Industries Co., Ltd. to hynix Semiconductor Inc. ( hynix ). Board of Directors Elections In the 53rd general shareholder’s meeting held at hynix headquarters in Ichon today, hynix elected three internal executive members and seven outside board of directors. As a result, hynix will have ten board members. Recent Korean regulations require the company to have more than half of its board members composed of non-executive members. hynix’s newly appointed outside board members are experts in the banking and corporate sectors at home and abroad. They are Mr. Y.S. Lee, a former chairman of the Banking Supervisory Authority, Mr. E. J. Woo, a former acting president of the Korea Exchange Bank, and Mr. James Guzy, president and CEO of Arbor Investment Company and a current board member of Intel Corporation. Mr. Y.S. Lee studied Economics at Seoul National University and worked at the Hoover Institution at Stanford University. He also held a post in the Korean Ministry of Finance and Economics and served as a chairman of the Banking Supervisory Authority. Mr. E. J. Woo studied Economics at Seoul National University and worked as a vice president and acting president of the Korea Exchange Bank until he departed the bank in May 2000. Mr. James Guzy obtained B.S. at University of Minnesota and M.S. at Stanford University. Currently, he is a current board member of Intel Corporation, of Cirrus Logic and of Novellus Systems, and is president and CEO of Arbor Investment Company. Mr. Guzy is a prominent expert in the semiconductor industry. hynix’s newly appointed executive board members are Mr. Sang Ho Park, president and Chief Operation Officer(COO) of the Semiconductor/LCD Business Division and Mr. In Baik Jeon, Chief Restructuring Officer. Dr. Chong Sup Park, chairman and Chie CEO of hynix, remains as an executive board member. Proposed New Corporate Name At the general shareholder’s meeting, the shareholders also approved the change of corporate name from ‘Hyundai Electronics Industries Co., Ltd.’ to ‘hynix Semiconductor Inc.’. ### “These materials are not an offer for sale of Securities in the United States. The Securities may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. hynix Semiconductor Inc. does not intend to register any portion of the offering in the United States or to conduct a public offering of Securities in the United States.”
