WEST CHESTER, Pa.--May 8, 2003--Amkor Technology, Inc. (Nasdaq: AMKR) announced today that it has closed an offering of $425 million of its 7 3/4% Senior Notes due 2013.

Amkor also elected to call all of its 9 1/4% Senior Notes due 2006 for optional redemption on June 7, 2003 (the "Redemption Date") at a price of 104.625% of the principal amount then outstanding on the Redemption Date, together with accrued and unpaid interest to the Redemption Date (the "Redemption Price"), in accordance with the indenture governing the 9 1/4% Senior Notes due 2006. Since the Redemption Date is not a business day, the Redemption Price will be paid (without additional accrued interest) on June 9, 2003 with respect to any 9 1/4% Senior Notes due 2006 surrendered by the Redemption Date. The aggregate Redemption Price on June 9, 2003 is expected to be approximately $448,587,500. Amkor will use the net proceeds of the issuance of the 7 3/4% Senior Notes, together with cash on hand, to redeem the 9 1/4% Senior Notes due 2006.

A Notice of Redemption is being mailed by the trustee for the 9 1/4% Senior Notes due 2006 to all registered holders of the 9 1/4% Senior Notes due 2006.

The 7 3/4% Senior Notes were sold to qualified institutional buyers in reliance on Rule 144A and outside the United States in compliance with Regulation S under the Securities Act of 1933. The 7 3/4% Senior Notes have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

This press release shall not constitute an offer to purchase, a solicitation of an offer to purchase, an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or purchase of any notes in any state in which such purchase, offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.


Contact:
Amkor Technology, Inc.
Jeffrey Luth, 480/821-2408 ext. 5130
VP Corporate Communications
jluth@amkor.com