Amkor Technology's Executive Chairman James J. Kim to Retire, Susan Y. Kim Appointed as New Chairman

Amkor Technology, Inc. - James J. Kim to Retire as Executive Chairman

Susan Kim, Amkor's Executive Vice Chairman, will become Chairman of the Board at that time. founded in 1968 and has been a pioneer in the outsourced semiconductor assembly and test services industry during his more than 56 years of service to the company. In recognition of his extraordinary contributions, the Board will recognize with the honorary title of Chairman Emeritus upon his retirement. 'After more than 50 years, I have decided that now is the appropriate time for me to retire,' said . ' is financially sound, and with our strong technology leadership in advanced packaging, a uniquely diversified global footprint, and partnerships with lead customers, we are well positioned for growth. I have full confidence in our president and chief executive officer, , my daughter, Susan, as Chairman of the Board, and our other Board members to help lead the company to great success in the future.' 'I congratulate on his remarkable achievements in this industry, and, on behalf of management team and the company's employees, I thank him for his guidance and leadership,' said , president and chief executive officer. 'He had an entrepreneur's vision of what could become, and he devoted immeasurable efforts to turn that vision into a strategic manufacturing partner for the world's leading semiconductor companies, foundries and electronics OEMs. We welcome in her new role as Chairman of the Board. With this clear demonstration of continuing support from the Kim family, we will continue to follow example of dedication and commitment as we work to extend position as a global advanced packaging leader.' About is the world's largest US headquartered OSAT (outsourced semiconductor assembly and test) service provider. Since its founding in 1968, has pioneered the outsourcing of IC packaging and test services and is a strategic manufacturing partner for the world's leading semiconductor companies, foundries, and electronics OEMs. provides turnkey manufacturing services for the communication, automotive and industrial, computing, and consumer industries, including but not limited to smartphones, electric vehicles, data centers, artificial intelligence and wearables. operational base includes production facilities, research and development centers, and sales and support offices located in key electronics manufacturing regions in , and . For more information visit amkor.com. Forward-Looking Statement Disclaimer This press release contains forward-looking statements within the meaning of the federal securities laws, including statements about financial condition, growth and competitive position. You are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements in this press release are made based on our current expectations, forecasts, estimates, and assumptions. Because such statements include risks and uncertainties, actual results may differ materially from those anticipated in such forward-looking statements. Risk factors that could affect the outcome of the events set forth in these statements include the factors discussed in the company's reports filed with or furnished to the . All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement. We assume no obligation to review or update any forward-looking statements to reflect events or circumstances occurring after the date of this press release except as may be required by applicable law.

James J. Kim to Retire as Executive Chairman

Amkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, announced today that James Kim will be stepping down as Executive Chairman of Amkor and retiring from the company effective October 31, 2024. Susan Kim, Amkor's Executive Vice Chairman, will become Chairman of the Board at that time. Mr. Kim founded Amkor in 1968 and has been a pioneer in the outsourced semiconductor assembly and test services industry during his more than 56 years of service to the company. In recognition of his extraordinary contributions, the Board will recognize Mr. Kim with the honorary title of Chairman Emeritus upon his retirement. "After more than 50 years, I have decided that now is the appropriate time for me to retire," said Mr. Kim. "Amkor is financially sound, and with our strong technology leadership in advanced packaging, a uniquely diversified global footprint, and partnerships with lead customers, we are well positioned for growth. I have full confidence in our president and chief executive officer, Giel Rutten, my daughter, Susan, as Chairman of the Board, and our other Board members to help lead the company to great success in the future." "I congratulate Mr. Kim on his remarkable achievements in this industry, and, on behalf of Amkor's management team and the company's employees, I thank him for his guidance and leadership," said Giel Rutten, Amkor's president and chief executive officer. "He had an entrepreneur's vision of what Amkor could become, and he devoted immeasurable efforts to turn that vision into a strategic manufacturing partner for the world's leading semiconductor companies, foundries and electronics OEMs. We welcome Susan Kim in her new role as Chairman of the Board. With this clear demonstration of continuing support from the Kim family, we will continue to follow Mr. Kim's example of dedication and commitment as we work to extend Amkor's position as a global advanced packaging leader." About Amkor Technology, Inc. Amkor Technology, Inc. is the world's largest US headquartered OSAT (outsourced semiconductor assembly and test) service provider. Since its founding in 1968, Amkor has pioneered the outsourcing of IC packaging and test services and is a strategic manufacturing partner for the world's leading semiconductor companies, foundries, and electronics OEMs. Amkor provides turnkey manufacturing services for the communication, automotive and industrial, computing, and consumer industries, including but not limited to smartphones, electric vehicles, data centers, artificial intelligence and wearables. Amkor's operational base includes production facilities, research and development centers, and sales and support offices located in key electronics manufacturing regions in Asia, Europe and the United States. For more information visit amkor.com. Forward-Looking Statement Disclaimer This press release contains forward-looking statements within the meaning of the federal securities laws, including statements about financial condition, growth and competitive position. You are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements in this press release are made based on our current expectations, forecasts, estimates, and assumptions. Because such statements include risks and uncertainties, actual results may differ materially from those anticipated in such forward-looking statements. Risk factors that could affect the outcome of the events set forth in these statements include the factors discussed in the company's reports filed with or furnished to the Securities and Exchange Commission. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement. We assume no obligation to review or update any forward-looking statements to reflect events or circumstances occurring after the date of this press release except as may be required by applicable law.

Amkor Technology appoints Susan Y. Kim as new Chairman By Investing.com

TEMPE, Ariz. - Amkor (NASDAQ:AMKR) Technology, Inc. (NASDAQ:AMKR), a prominent provider of semiconductor packaging and test services, today announced a forthcoming change in its leadership. Susan Y. Kim will take over as Chairman of the Board following the retirement of the current Executive Chairman, James Kim, on October 31, 2024. James Kim, who founded Amkor in 1968, has been instrumental in shaping the outsourced semiconductor assembly and test services industry for over five decades. To honor his significant contributions, he will be bestowed with the title of Chairman Emeritus upon his retirement. The transition comes at a time when Amkor is positioned for growth, leveraging its strong technology leadership in advanced packaging and a diversified global footprint. The company's president and chief executive officer, Giel Rutten, expressed gratitude for James Kim's visionary leadership and welcomed Susan Kim to her new role, emphasizing the continued support from the Kim family. Amkor Technology , Inc. is recognized as the largest US-headquartered OSAT service provider and has been a strategic manufacturing partner for leading semiconductor companies, foundries, and electronics OEMs across various industries including communication, automotive, computing, and consumer electronics. This leadership change is part of a strategic move by Amkor to maintain its global leadership in advanced packaging technologies. The company's commitment to innovation and quality has been a cornerstone of its success, and with Susan Y. Kim as the new Chairman, Amkor aims to continue on this path. The information regarding the leadership change is based on a press release statement from Amkor Technology, Inc. In other recent news, Amkor Technology has reported a robust second-quarter performance, with revenues amounting to $1.46 billion and earnings per share at $0.27. This marks a 7% sequential increase in revenue, primarily fueled by demand for advanced packaging used in premium smartphones and AI solutions. However, the company's third-quarter guidance fell slightly below analyst expectations, primarily due to a delay in its 2.5D technology ramp-up and less robust recovery in the automotive and industrial sectors than initially anticipated. Needham has responded to these developments by raising its price target for Amkor Technology to $45 from the previous target of $40, while maintaining a Buy rating on the stock. Despite the challenges, Amkor Technology remains optimistic about its full-year revenue from 2.5D technology, projecting it to quadruple year-over-year, and plans to expand its 2.5D capacity in 2025. The production of high-end smartphones, laptops, and wearable devices is expected to increase significantly in the second half of 2024. Looking ahead, Amkor anticipates a third-quarter revenue of $1.835 billion, influenced by new product launches and strong demand in various segments. Despite flat expectations for the automotive and industrial markets, there is strong demand projected for high-performance computing and ARM-based PCs. As Amkor Technology, Inc. (NASDAQ:AMKR) prepares for a significant leadership transition, the company's financial health and market position remain pivotal for investors. According to InvestingPro data, Amkor boasts a market capitalization of $7.45 billion, underscoring its substantial presence in the semiconductor industry. The company's Price-to-Earnings (P/E) ratio stands at 19.99, reflecting investor expectations of its earnings capacity. Notably, the company has experienced a revenue growth of 0.24% in the last quarter, indicating steady performance amidst challenging market conditions. InvestingPro Tips highlight that Amkor has increased its dividend for four consecutive years, showcasing a commitment to returning value to shareholders. This is complemented by the company's strong liquidity position, where liquid assets surpass short-term obligations, providing financial flexibility and stability. Investors should note that while analysts have revised their earnings expectations downwards for the upcoming period, Amkor remains a prominent player in the Semiconductors & Semiconductor Equipment industry. With the company's profitability over the last twelve months and a strong return over the last five years, Amkor's strategic focus on advanced packaging technologies is poised to capitalize on industry growth trends. For those looking for a deeper dive into Amkor's financials and strategic positioning, InvestingPro offers additional tips and insights. Currently, there are 10 more InvestingPro Tips available on https://www.investing.com/pro/AMKR, which can provide investors with a more comprehensive understanding of the company's performance and potential.