Approach
As a semiconductor company based in the Republic of Korea, a country with a highly homogeneous population where the majority are ethnically Korean, our workforce reflects the demographic composition of the wider population.
We recognize our business success is intrinsically linked to our ability to attract and retain talent. As a result, we strive to create a working environment in which all employees feel valued and respected. We also place great emphasis on inclusion and diversity, and we promote a culture of hiring and retaining more female employees.
Oversight and management of Inclusion
We have established a robust management and oversight structure to ensure compliance with anti-harassment and non-discrimination legislation. This involves the Board, senior management, and legal, compliance and HR teams working together to maintain a respectful and inclusive workplace.
- The Board has overarching responsibility for ethical standards and compliance, and sets the tone for Magnachip’s approach
- Senior executives are responsible for implementing and reinforcing anti-harassment and non-discrimination policies throughout the company
- Our legal and compliance teams ensure that we adhere to the laws and regulations related to workplace behavior, working closely with HR to address compliance issues and mitigate risks
- We have implemented training programs to educate employees about anti-harassment policies, promote awareness and foster a positive workplace culture
- Our Employment Rules, issued to every member of staff, define ‘Anti-Harassment’, outline related prohibited behaviors, suggest preventive education and highlight actions to be taken in the event of an incident
Inclusion programs
We operate a number of initiatives to encourage diversity and inclusion in our workplace, including:
- Mentorship scheme
- Diversity training
- Inclusive policies (such as flexible working arrangements, equal opportunities for career advancement and family-friendly benefits)
- Mandatory annual anti-harassment training programs
The training sessions mentioned above are mandatory for all our staff members and executives, as well as all contract and dispatch personnel working with us temporarily.
Our gender distribution as of December 31, 2023, is represented in the following table.
Table 10: Gender distribution at Magnachip
| Area | Proportion of women (%) | Proportion of men (%) |
|---|---|---|
| Total workforce | 32.8 | 67.2 |
| Executive roles | 25.0 | 75.0 |
| Technical roles | 14.5 | 85.5 |
Anti-harassment
Our Employment Rules clearly indicate our stance on anti-harassment. The scope of our policy covers all executives, employees and personnel from partner companies while on duty, including those dispatched from staffing agencies or working for subcontractors.
To educate and prevent harassment, the company mandates anti-harassment training sessions covering definitions, counseling processes, victim protection measures, disciplinary actions and prevention strategies, with key information disseminated through regulations and internal communication. Our rules also outline measures for handling reported incidents, including confidential interviews, investigations, victim protection and disciplinary actions against perpetrators, with severe penalties issued to those attempting to conceal harassment incidents.
Policy statement
We adhere to international human rights and labor standards as agreed by the United Nations and the International Labor Organization. We prohibit all forms of discrimination based on gender, race, nationality, religion, and age to ensure that all employees work in a safe and fair environment.
These values are embedded in our policies:
