Fairchild Korea Semiconductor Honored by Korean Government for Successful Labor Relations; Award Recognizes Effective Integration by a Foreign Company

Business Wire, Jan 12, 2000

Business/Technology Editors

SOUTH PORTLAND, Maine--(BUSINESS WIRE)--Jan. 12, 2000

Fairchild Korea Semiconductor has been honored by the Korean government for positive labor-management relations at its plant in Puchon, South Korea. The plant, which employs more than 1600 people, was acquired by Fairchild Semiconductor International (NYSE:FCS) in April, 1999. Fairchild was the only US-based company to be honored.

On behalf of the Republic of Korea, Minister of Labor Sang -Ryong Lee presented K.Y. Yoon, director of human resources for Fairchild Korea, a Certificate of Commendation "as recognition of your faithful service to promote healthy and prospective labor and management relations."

During the last several months, Fairchild Korea's management and labor leaders forged an agreement to resolve conflicts, develop mutual understanding and trust, and build a healthy culture. A government official of the Puchon District, Superintendent Kyoung Suk Lee, cited Fairchild as an example for other foreign companies. "Fairchild shall prosper on the foundation of stable labor relations and maintain a leading role as a model company," he said.

"This award is a rewarding milestone in our effort to be recognized as a good employer in Korea," said Kirk Pond, CEO and president of Fairchild Semiconductor International. "Much has been written about the challenges foreign companies face when integrating business operations of different cultures. Because we've had effective management and dedicated workers in Korea, we've been able to deal with those challenges, and we've been pleased with our experience. It's not easy for anyone to suddenly adjust to the culture of new management based half-a-world away. I admire and appreciate the effort our Korean workers have made to integrate with our worldwide company."

Fairchild Semiconductor International (www.fairchildsemi.com) is a global company solely focused on designing, manufacturing and marketing high performance semiconductors for multiple end market uses. Fairchild's multi-market components are used in computer, telecommunications, automotive, consumer and industrial applications. Supplying logic, analog, mixed signal, non-volatile memory and power products, Fairchild is filling the gap in the global supply of building block semiconductors. The company is headquartered in South Portland, Maine, USA, with 8,400 employees worldwide. Additional manufacturing facilities are located in California, Utah, South Korea, Malaysia and the Philippines, with regional sales offices throughout the world.