The board of directors of Phoenix Semiconductor Philippines Corporation, at its special meeting held on January 7, 2016 approved the election of Replacement Directors (effective December 31, 2015) for Mr. Dongjoo Kim and Sang-hoon Ha. Upon nomination duly made and seconded, and in accordance with the recommendation of the Nomination Committee, the board of directors unanimously elected the following as directors of the corporation effective on December on 31, 2015, to serve as such for the remainder of the unexpired term of their respective predecessors and until their respective successors shall have been duly elected and qualified: Intae Hwang (in replacement of Dongjoo Kim); and Daekyu Kang (in replacement of Sang-hoon Ha). Kyuho Han has been promoted from Finance Team Head to Treasurer and Minsu Park has been promoted from Process Engineering Team Head to Compliance Officer.