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                                                                 Exhibit 99.1

                             AMKOR TECHNOLOGY, INC.
                 SECOND QUARTER 2003 CONFERENCE CALL TRANSCRIPT

Operator:             Good afternoon ladies and gentlemen and welcome to the
                      Amkor Second Quarter Earnings Conference Call.

                      At this time all participants are in a listen-only mode.
                      Following today's presentation, instructions will be given
                      for the question and answer session. If anyone needs
                      assistance at anytime during the conference, please press
                      the star followed by the zero for an operator. As a
                      reminder this conference is being recorded today, Monday,
                      July 28, 2003. I would now like to turn the conference
                      over to Mr. James Kim, Chairman and Chief Executive
                      Officer. Please go ahead sir.

James Kim:            Thank you for joining us today. I am James Kim, Chairman
                      and Chief Executive Officer of Amkor. With me today are
                      John Boruch, President and Chief Operating Officer and Ken
                      Joyce, Chief Financial Officer.

                      I will make some brief remarks, Ken will discuss our
                      operating results and then John will have some closing
                      comments.

                      We have achieved our second quarter financial targets
                      despite the business disruption caused by the Japan
                      earthquake and despite the impact of SARS on the Asian
                      electronics industry. The outsourcing trend has driven our
                      company's growth for the past 35 years. By maintaining our
                      industry leadership and providing innovative package and
                      test technology we will encourage our customers to
                      outsource more. We believe this is creating opportunities
                      for Amkor to achieve sustainable and profitable growth. We
                      are especially heartened by strong growth potential in
                      Japan. We expect to
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                      approach or exceed the breakeven in the third quarter and
                      we believe that business should continue to grow in the
                      fourth quarter.

                      Looking ahead into 2004, improving economic conditions and
                      strengthening semiconductor demand should create a
                      platform for strong growth for Amkor. Ken Joyce will now
                      review our financial results.

Kenneth Joyce:        Thank you, Jim. Before we discuss our financial results, I
                      would like to remind you that any forward-looking
                      statements made during the course of this conference call
                      represent the current view of management. We refer you to
                      today's press release, which was filed with the SEC or in
                      Form 8K prior to this conference call and our other
                      filings with the SEC for information on risk factors that
                      could cause the actual results to differ materially from
                      our current expectations. The Webcast of today's
                      conference call can be access through our Investor
                      Relation Section of our Web site at amkor.com.

                      I would like to remind everyone that in the first quarter
                      of 2003, we sold our wafer fabrication service business.
                      Accordingly, prior year results have been restated to
                      reflect this sale. Our second quarter of revenue of $378
                      million was up 10% sequentially and 8% year-over-year. It
                      should be noted that in 2002, our second quarter of
                      revenue rose 21% sequentially. So the bar was set pretty
                      high for the year-over-year comparison.

                      Second quarter revenue was impacted modestly by a
                      temporary disruption in wafer fab supply due to the Japan
                      earthquake, which affected not only our joint venture
                      partner Toshiba but also other customers who have wafer
                      fab in the affected area. We also believed that SARS had a
                      general impact on customer demand in the second quarter.
                      Although the extent of the impact is difficult to
                      quantify, we believe that the residual effects of SARS on
                      the electronic supply chain may linger into the third
                      quarter.

                      Gross margin rose to 19.6% in the second quarter from
                      13.6% in the first quarter reflecting ongoing factory cost
                      reduction initiatives, line consolidation
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                      activities, factory expense control and higher utilization
                      of our assembly and test assets. Our cash balance was $346
                      million at June 30 compared to $351 million at March 31
                      and $162 million at June 30 of last year.

                      Short-term debt was $49 million, the bulk of which is
                      renewable working capital lines of credit to support our
                      Japan and Taiwan operations. Our liquidity position is
                      actually quite solid. During the second quarter, we made
                      important progress aligning Amkor's capital structure to
                      support the next phase of our growth strategy. We entered
                      in to a new secured bank credit facility on a more
                      favorable term. We also refinanced $425 million in senior
                      notes extending the maturities from 2006 to 2013 while
                      reducing the interest rate from 9.25% to 7.75%.

                      Taken together, these actions have significantly
                      strengthened our financial liquidity. In addition, we
                      received board approval to purchase up to 150 million of
                      the 9.25% senior notes due 2008. And to date, we have
                      purchased 7 million of these notes in the open market.

                      In anticipation of continued growth, our second quarter
                      capital expenditures were $68 million. During the quarter,
                      we stepped up order and delivery activity for fine pitch
                      wire bonders, high-speed testers and other advanced
                      equipment. This equipment is being deployed across all of
                      our geographic location. Our capital budget for 2003
                      remains $150 million.

                      Here is a recap of third quarter guidance contained in our
                      earnings release: Revenue for the third quarter should be
                      up between 8% to 10% sequentially; gross margin should be
                      in the range of 21% to 24%; and we expect third quarter
                      bottom line to be breakeven give or take 2 cents against
                      the breakeven.

                      Now I'll turn the call over to John Boruch for some
                      additional comments.

John Boruch:          Thank you, Ken. In our last call, we talked about the
                      increasing business activity in the semiconductor industry
                      and we expressed optimism that our
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                      sector was primed for recovery. We believe that is the
                      case. Business strengthened during the quarter and in
                      fact, we had upside opportunities that could not be
                      fulfilled because the supply chain, primary substrate
                      suppliers, was not ready to respond to the rapid increase
                      and forecast.

                      Regarding the substrate supply issue, we have taken
                      significant action to increase our substrate vendor base
                      in corresponding substrate supply. We do not anticipate
                      the availability of substrates to be a major problem going
                      forward.

                      We believe there is a technology transition underway that
                      is driving the need for more advance packaging and driving
                      semiconductor companies to outsource more of their
                      packaging requirements. While the OSAT industry conditions
                      remain highly competitive, we believe that company
                      management's are becoming more careful in the way they
                      allocate their assembly and test resources.

                      We think the days of unbridled expansion are over - at
                      least for a while. We expect the pace of industry to
                      recover - the pace of industry's recovery to be moderate
                      with normal return - seasonal normal patterns. That should
                      make for stable manufacturing environment, which will have
                      positive implications for capacity utilization and
                      pricing.

                      We are very pleased with our progress in Japan with the
                      semiconductor industry is primed for acceleration of
                      outsourcing. Amkor has by far the largest share of OSAT
                      market in Japan and we continue to penetrate the major IC
                      suppliers. This year, our business with Japanese IC
                      companies outside of Toshiba joint venture should grow
                      more than 30%.

                      Our Taiwan business is on track to grow more than 40% this
                      year with the standard capacity of several production
                      lines which should accommodate business growth. We also -
                      we are also qualifying several chip set and
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                      graphic suppliers using flip chip technology and
                      anticipate meaningful business in these markets in 2004.

                      One year ago, our Taiwan operations were unprofitable,
                      today, we are in the black. Our business in China
                      continues to grow. We're adding test capacity and continue
                      to build relationships with the emerging foundries.

                      Our goal in China is to broaden our technology base and
                      build scale in proportion to viable business
                      opportunities. Our test revenues grew nicely this quarter
                      and should continue to improve as both IDMs and fabless
                      customers become more comfortable with outsourcing tests.
                      We are looking to establish test alliances in both China
                      and Taiwan as a way of providing turnkey assembly and test
                      capability or managing the business risks associated with
                      building test capacity.

                      Our highly diversified customer base in an ongoing
                      strength for Amkor, excluding the joint venture with
                      Toshiba, no single customer was more than 4% of our first
                      half revenue. Our top ten customers accounted for 46% of
                      first half revenue and our top 25 customers comprise only
                      76%.

                      We are experiencing strong growth in MicroLeadFrame, Chip
                      Array, stacked CSP, System in Package, RF Test and Strip
                      Test. These are leading the recovery in our business to
                      provide Amkor with the exceptional array of advanced
                      packaging and test technology.

                      We believe Amkor's geographic diversification, strong
                      product and technology portfolio, and broad customer base
                      will allow us to stay at the leading edge of the
                      outsourcing trend. We continue to forge ahead on driving
                      operational efficiencies without compromising our
                      manufacturing and marketing capabilities. We remain
                      committed to achieving profitable and sustainable growth.

                      Operator will now open this call to questions.
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Operator:             Thank you, sir. Ladies and gentlemen at this time we will
                      begin the question and answer session.

                      If you have a question, please press the star followed by
                      the one on you pushbutton phone.

                      If you would like to decline from the polling process,
                      please press the star followed by the 2. You will hear a
                      three tone prompt acknowledging your selection and your
                      questions will be polled in the order in which they are
                      received. If you are using speaker equipment, you will
                      need to lift the handset before pressing the number. One
                      moment please, for our first question.

                      Our first question comes from Eric Gomberg with Thomas
                      Weisel Partners.

Eric Gomberg:         Hey guys, nice quarter. Could you talk a little bit about
                      what the pricing environment looks like right now?

John Boruch:          Yes. This is John. The pricing we think will remain
                      competitive for the rest of this year. We expect going
                      forward our normal 2% to 4% decline in ASP, which we
                      accounted for in our forecast. So we would typify the
                      current situation as being a normal - in the normal range.

Eric Gomberg:         And it's true across all package type?

John Boruch:          Well, I think for the most part, a pretty stable
                      environment. The legacy packages, the older packages - a
                      lot of that was shaken out a year ago or so, which to
                      come down the learning curve and the pricing curve and
                      some of our new alliances as usual, which kind of results
                      in this normal 2% to 4% per quarter kind of reduction. But
                      manufacturing efficiencies kind of keep pace with that so
                      until supply ties up a little bit more, we think we'll be
                      in this range of very moderate erosion as we go forward.
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Operator:             Our next question comes from Shekhar Pramanick with
                      Prudential.

Shekhar Pramanick:    Hi good afternoon. Couple of question for Ken -
                      Ken what was the pro forma number? Also, what are the
                      incremental margins? And what kind of gross margins you
                      were expecting for the Japanese business where you're
                      seeing growth? And then I have another one for John.

Kenneth Joyce:        Well, let's get back to the pro forma. We did 31 cents EPS
                      loss. If you subtract out the 19 cents relative to the
                      refinancing activities of the debt retirement, you would
                      have a 12-cent loss. And the next question...

Shekhar Pramanick:    The incremental margins?

Kenneth Joyce:        On?

Shekhar Pramanick:    From here on.

Kenneth Joyce:        The incremental margins going forth, as we said before,
                      pretty much our model is, our breakeven is around $400
                      million in revenue per quarter. At that rate, gross margin
                      is around 21%. If we could get up in a range of $450
                      million per quarter, the margins will be more in a range
                      of 25% to 27%. And if we get up in the $500 million to
                      the, which would be a $2 billion range, we would be in the
                      29, 30, or 30 - in the low 30s.

Operator:             Our...

Kenneth Joyce:        Approximate.

Operator:             Our next question comes from Ted Parmigiani with Lehman
                      Brothers.

Ted Parmigiani:       Hi. Good afternoon. Speaking to the gross margin question
                      there and breakeven, how much ASP erosion are you assuming
                      with those kind of
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                      levels, Ken? The $400 million, you are obviously assuming
                      something like 3% erosion for this quarter?

Kenneth Joyce:        Oh, that's correct.

Ted Parmigiani:       And then fourth, I mean, you know, what I'm saying, it's
                      like we've heard this breakeven numbers before and, you
                      know, even at 8% you would be close to 410 off the
                      number you just printed. So, you know, is there something
                      - is this really more a question of where the sector is at
                      a level of utilization versus where Amkor may specifically
                      be given the fact that, you know, as long as there's under
                      utilization among, you know, any of your at least the top
                      four guys of the space, there's going to be continued
                      pricing pressure through, you know, to competition and
                      defense and offense, I guess?

Kenneth Joyce:        Utilization is fairly important in determining where our
                      margins are, Ted. But also equally important is the mix.

Ted Parmigiani:       Right.

Kenneth Joyce:        And so in this case here, you know, you can have
                      increasing units and decreasing ASPs but the mix plays -
                      also plays a part in that in terms of - sometimes we have
                      some high volume lower ASP mixed in there that will also
                      impact that.

Ted Parmigiani:       Right. And how much of your margin guidance - well let me
                      rephrase it another way - you have a 21% to 24% range,
                      what impact is the substrate situation playing on this and
                      how long do you think that's going to play out?

Kenneth Joyce:        We can't get an exact number on that because it could
                      actually be a competitive disadvantage with something we
                      would not want to disclose. I don't think it's so much the
                      cost of the substrate just having the availability to
                      service our customers. I think what you're referring to is
                      there was and I think John could speak to that a little
                      better, certain pressures in getting substrates to
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                      service our customers during the quarter and we made every
                      effort to make sure that we could do that.

John Boruch:          Yeah. I think definitely, the era of quickly eroding
                      substrate prices is behind us. We see a firming up of
                      those prices. We had to, in the second quarter, pay a
                      little bit more for some accelerated supply. But we've
                      quickly brought up new vendors and our ability to go bring
                      up these new vendors which are lower costs, et cetera and
                      control the mix and do some other things with our vendors
                      and our customers will determine future cost impact of the
                      substrate, the potential shortage which we think there's
                      no longer really a shortage.

                      So we have - we have temporarily blipped there. We think
                      most that's behind us, if not all. And the margin impact
                      going forward for the next couple of quarters should be
                      minimal.

Operator:             Our next question comes from Ali Irani with CIBC World
                      Markets.

Ali Irani:            I was hoping that you could breakdown for us this past
                      quarter's revenue gains and its contribution by unit
                      growth versus ASPs specifically in historicals. And also
                      if you could comment for us on the wafer banks and how you
                      see those at Amkor at the present moment?

Kenneth Joyce:        With respect to the units our assembly unit shipments -
                      we're up 16% from Q1 and as we said earlier, the ASPs are
                      down around 3% during the quarter.

John Boruch:          Yeah. That was again, the ASP - our calculation is based
                      on balls and leads -- number of leads or balls shipped
                      sort of normalize it and take out the mix equation, put it
                      on the ASP side. So you can't do the straight math
                      formula, units and dollars and come up with that ASP.

                      On the wafer die support - die banks, not much had changed
                      over the quarter, so it's pretty much in the normal range.
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Ali Irani:            How many weeks of wafer bank, if you give us a general
                      sense, your customers are holding now?

John Boruch:          Well, you know, a lot of them hold zero. I don't want to
                      mislead you and some of them might hold up to three or
                      four months supply depending on what their business model
                      looks like. So we don't look at it as a meaningful indices
                      to either discuss or report a recent supply of wafers
                      because it doesn't mean much. It's basically - based on
                      what customers want to do. They keep wafers in their own
                      factories or they keep it in our factories and we don't
                      know what they have in their own factory.

Operator:             Our next question comes from John McManus with Needham &
                      Company.

John McManus:         Yes. Have you seen any increased utilization of some of
                      the older plants here in the end of the second quarter
                      going in to the third quarter?

John Boruch:          Older plants, you mean, our customers' factories or our
                      older product lines?

John McManus:         Your older product lines.

John Boruch:          No. We feel a little bit but there's still a lot of
                      capacity remaining to be sold out. As we believe the IDMs
                      when they fill up here as maybe this year or some time
                      next year, as they fill up, we don't believe there's much
                      commitment on their part to buy older - that older
                      capacity and continue with that, for that strategy. So, we
                      think that will pour over, at least our customers have
                      told us that, they have told us to be ready for big
                      increase of demand whatever their current factories are
                      for. So that is still laying somewhere out in the future
                      for us.

John McManus:         And could you give us an idea of - well, could you give
                      us what your corporate utilization rate assumption is in
                      your revenue guidance? If you were 70%, what do you
                      anticipate there would be say in the third quarter?
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Kenneth Joyce:        That would - yeah it's probably be in a range of around
                      75%.

Operator:             Our next question comes from John Pitzer with Credit
                      Suisse First Boston.

John Pitzer:          Yeah. Good afternoon guys. A couple of questions here --
                      first, can you help quantify on a dollar term what the
                      impact out of the Japanese earthquake was for this quarter
                      and are you recapturing all that revenue in the calendar
                      third quarter? And then secondly, you look at the mix of
                      the business by the end market, the second quarter saw a
                      great growth on the consumer side. I wonder if you could
                      give us some guidance by end market where you see the
                      growth going into the third quarter. Thanks.

John Boruch:          All right. Oh, yeah, you know, as we published the
                      earthquake impact of - at Toshiba and the surrounding fabs
                      was going to be into $5 to $10 million range and we
                      believe the best to our calculation that's the kind of in
                      the range it was. You know, over and above that, which we
                      didn't - but our customers talked to a lot, we thought -
                      definitely there was a SARS impact as the quarter
                      developed, we certainly saw cell phone market kind of roll
                      over on us, paused for a while and basically our
                      conclusion with what we've seen out there. And talking to
                      our customers and some of their customers is that - as we
                      all know there was a big cessation of demand temporarily
                      in Asia in the affected countries. And whether that demand
                      is going to popup as the double hit in Q3 and Q4, who
                      knows, but we certainly think it will go back to normalcy
                      and we're seeing that being effective now on our forecast.

John Pitzer:          Well John, to play devil's advocate a bit, given the SARS
                      impact, the cell phone impact, the Japan impact - why not
                      better growth sequentially going into Q3?

John Boruch:          Well, we'll see. You know, we're not the ones who are
                      going to predict the SARS, what the SARS impact was. Was
                      there (unintelligible) from the SARS scare? How deep was
                      the demand eroded and will it come back? Is it totally
                      gone from the, you know, the shopping malls of Asia?
                      I don't know. We
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                      looked at what our customers are forecasting for the third
                      quarter, it's not robust. Okay. It's very cautious; their
                      visibility seems to be still cloudy. Ours is better. So
                      anyway, you know, our numbers - we're giving you our best
                      guess right now and of course we were hopeful that "Hey,
                      maybe they're completely exact." We'll see.

James Kim:            But the important thing is we definitely see fourth
                      quarter to be strong.

John Boruch:          Yeah.  Fourth quarter has held up.

Operator:             Our next question comes from Timothy Arcuri with Deutsche
                      Bank. Mr. Arcuri, please go ahead.

Timothy Arcuri:       Hi. Hi guys. Following on to what a gentleman was asking,
                      I wanted to get out a little bit more of some of these
                      one-timers in the quarter and what kind of the
                      apples-to-apples guidance is? You quantified with the
                      impact from the earthquake was but can you quantify a
                      little bit what the impact to the shortages of substrate
                      supply was? So what could have you done? Were you able to
                      get all the substrates that you would've needed?

John Boruch:          We looked at that, that's really a hard one to estimate.
                      It's tough. I don't want to take a stab at it but it
                      certainly was some upsides that we missed out on and I
                      don't know where it went, maybe our competition maybe just
                      extended out. I'm not sure.

Timothy Arcuri:       Okay. So if you kind of normalize it, your guidance really
                      is up more kind of 5% if you look at it on an
                      apples-to-apples basis? So should we expect that business
                      to come back in Q4? Or is this business that just gone
                      because of the market - because of weakness in the second
                      half of the year?

Jim Kim:              What weakness?

John Boruch:          What you're saying is because we should have shipped more
                      because of the earthquake, et cetera. If you estimate what
                      that might have been, and think
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                      about current guidance, then you got a 5% kind of growth
                      for the quarter. Okay.

James Kim:            Are you talking about (unintelligible)?

John Boruch:          I'm just trying to rephrase his question so I know what...

Timothy Arcuri:       Off of, you know, off of some of these one-timers in Q2.
                      So, I'm wondering if we see some of these things that
                      might've come back in Q3 instead come back in Q4.

John Boruch:          That's - that might be what we are looking at right now.

Operator:             Our next question comes from Satya Chillara with WR
                      Hambrecht.

Satya Chillara:       Good afternoon, guys. John, you've talked about a stronger
                      Q4. Can you able to quantify that for us?

John Boruch:          No. Not yet. It's still too early. We still have three
                      months to go before we have to do that. But, you know, our
                      view here if that we are going to have a strong quarter in
                      Q4 or a growing quarter in Q4, that would signify to us
                      that the semi industry might be looking at a pretty good
                      2004. And it's kind of historically been our cue, not a
                      100% of the time but a lot of the times so we're
                      encouraged by the fact that that quarter is going to be a
                      growth quarter for us at least at this point of time -
                      leading to maybe a pretty good 2004.

Satya Chillara:       What about the capacity utilization in Q3 on the second
                      half, how is that trending, I mean, in Q2 you have 70% of
                      utilization.

John Boruch:          Yeah, we'll go up to the mid 70 or so in Q3 and then going
                      out in the year around 80% or so and, you know, that's a
                      very comfortable nice area to be in 80% - 85% utilization
                      rate where we can service customers and make decent
                      margins. Let's hope that happens.
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Operator:             Our next question comes from Brett Hodess with Merrill
                      Lynch.

Brett Hodess:         Just to follow on the utilization, can you talk
                      about the utilization at the very leading edge? Obviously,
                      capex budget's not changing but accelerating the quarterly
                      spend level a bit, could you run into tightness on the
                      leading-edge that might impact your sales growth?

John Boruch           Yeah we have some lines that on the leading-edge
                      that are very, very fast growing and running about 110% of
                      utilization right now or trying to. And - but I will
                      typify some of our leading-edge lines running close to
                      capacity. And we're adding it as we go forward with Q3. As
                      you saw, we had a pretty good - pretty big capex number
                      which we spent in Q2 and that's all in anticipation of
                      continuing to go in Q3 and Q4. So, all good stuff.

Brett Hodess:         Are the lead times on the equipment short enough that you
                      can meet your needs as you grow just to head here?

John Boruch           Yeah. Right now we can just - we can pause this thing
                      pretty very fast. We think the lead times are in the very,
                      very, very close range - one, two, three months and we can
                      expand capacity.

Operator:             Our next question comes from Clark Westmont with Smith
                      Barney.

Clark Westmont:       Hi guys. A lot of my questions had been answered
                      but if you could give us I think your revenue
                      concentration for your top ten and top 25 customers, I
                      think you've done that in the past. And then I have a
                      follow up.

John Boruch:          Revenue concentration.

Kenneth Joyce:        Top 25 was 76%.

John Boruch:          Oh, top 25 was 76% and top ten was 46%.
<PAGE>
Clark Westmont:       Okay. Great. And also could you update us on the TI
                      business that you have including the DLP packaging.

John Boruch:          We've known to speak to our customer demands that we get -
                      we made announcement to TI that we are in the DLP
                      packaging business for them and that has been growing -
                      that's all I can do to tell you right now.

Operator:             Our next question comes from Eric Reuble with Miller Tabak
                      Roberts.

Eric Reuble:          Great quarter guys. John, in the past you've talked about
                      - in the early part of the up cycle receiving of greater
                      proportion of IDM outsourcing and I'm just wondering - you
                      talked about that IDM capacity filling up for us in the
                      end of the year, is that still sort of in the range that
                      you were looking at a couple months - a couple of quarters
                      ago?

John Boruch:          Yeah. We thought that there was reasonable chance
                      with the IDM because they were running in the 85% - 90%
                      earlier this year - utilization rates. And I would - I
                      hope, I'm not predicting - I'm hoping that as we get out
                      of this year it would - a number of them will stop running
                      out of capacity on the older packages and they'll start
                      beginning to outsource a lot more than they had been -
                      we'll see but we're ready for them and a number of them
                      have told us to get ready so we are ready. We'll see if it
                      comes out.

Eric Reuble:          And can you give any more color on Japan, you mentioned
                      that you could see that business grow by 30% this year are
                      you starting to see other customers use the facility there
                      that you are in joint venture? That was - the goal was to
                      get other customers.

John Boruch:          Yeah. We fully expect that as we go out of the JV in the
                      next year - about the third of that batch will be used for
                      other customers besides the Toshiba Iwate fabs there. So
                      it is - we have a very successful program underway, lots
                      of qualifications - we've brought up various new lines and
                      we're thinking about
<PAGE>
                      bringing up some more. We see a lot of need in Japan for
                      the leading-edge technology that we offer and the Japanese
                      would like to have that close to home so we're culminating
                      some of those requirements.

Operator:             Our next question comes from Sunar Vonerjam with Merrill
                      Lynch.

Sunar Vonerjam:       Yeah. Hi thanks. Just a couple of questions
                      here, could you talk about what the status is as far as
                      the Citizen earn out payment is concerned? You have
                      withheld it and I'm not sure where stand with that right
                      now and number two, when you move - when you acquired the
                      remaining 30% of Toshiba, I understand you go from a cost
                      plus to a market base pricing. Given where you stand now
                      what does that do to your gross margin for that part of
                      the business?

Kenneth Joyce:        Well, there's two parts here: the Citizen we do
                      have a payment of $12 million that's due to Citizen. There
                      is a dispute currently over some of the IP that was
                      transferred to Amkor. When that dispute is resolved, then
                      that payment will be made hopefully we'd know it by the
                      end of the year, something in that time frame. So that's
                      the first question.

                      The second on the Toshiba, there's a residual payment.
                      There's a min and a max and our current outlook is that
                      we'll be around $15 million to buy out the remaining 40%
                      interest in Toshiba. You're absolutely right that we go
                      from cost plus to market based and we think it's going to
                      have a positive impact on margins because we're going be
                      bringing in third-party business also which is going to
                      allow as to increase some of the margins over the cost
                      plus that we enjoy right now with the Toshiba business.

Sunar Vonerjam:       All right.  Thanks.

Operator:             Our next question comes from Mehdi Hosseini with Soundview
                      Technology.
<PAGE>
Mehdi Hosseini:       Yes. Most of my questions have been asked but I just need
                      some clarification. John, you talked about kind of a
                      moderate recovery and let's say if the semiconductor
                      industry where to grow at - in a rate of 5% to 8%, to what
                      extent would you expect this industry to grow going to
                      2004? And then we talked about increased outsourcing by
                      IDM's and you talked about increase to addition there.
                      What is it going to take - is it going to be a step
                      function where we wake up one day and everybody's going to
                      start increasing outsourcing? Or you're going to see a
                      trend and Japan is going outsource more and then followed
                      by Europe? If you could add additional comments, I will
                      appreciate it.

John Boruch:          Yeah, I think basically, the trends already there. I can
                      count on less than two handfuls the number of customers of
                      ours who are going to remain, permanently planted in the
                      backend manufacturing business, you know, Intel and a few
                      others. But for the most part, most of the IDMs, such as
                      the Motorola, Agilent and the IBM, et cetera are going to
                      asset-light or no assets to go to the fabless area and
                      that's already been spoken to.

                      So the trend is already established. It's irreversible in
                      my opinion. I think at some point, some of this companies
                      still have factories that have a little bit of capacity
                      left when they fill up, I think the OSAT industry and
                      Amkor will see a big inflection point some time at 2004 my
                      best guess is where we will see the semi industry will
                      have one curve of growth and for a few years as this
                      outsourcing trend really kicks in, it will modulate
                      eventually obviously but for a few years, you can see this
                      significantly outgrow the semi industry for a couple of
                      years here.

Mehdi Hosseini:       Thank you.

Operator:             Our next question comes from Stanford Missiuaga with
                      Citigroup.

Stanford Missiuaga:   Hi. Thanks. A couple of questions: The first one is,
                      regarding the bond buy back allowance that you got from
                      your board, what are the general terms
<PAGE>
                      on it specifically, is there any expiration date and do
                      you have any comment on how you're going to implement it?

Kenneth Joyce:        We're going to do that at as we said Stanford and that's
                      we're going to continue the to monitor the market the
                      opportunistic and go in there and buy it. Obviously, I
                      don't want to say on this phone call, what our target
                      price is but we're going to go and we're evaluating the
                      various MPV levels of which you get the best value, and
                      that's where we will make a purchases.

Stanford Missiuaga:   Is there an expiration on how long you're allowed to do,
                      have this open for?

Kenneth Joyce:        No.

Stanford Missiuaga:   Okay. Second question is, in general what is the
                      acquisition appetite for you guys, either competitors or
                      IDM assets that type of thing?

John Boruch:          Yeah. We have our eyes open, we look for good deals to
                      acquire business from our customers, which may require an
                      asset or purchase of factory, et cetera. Some of these may
                      not, so we are very open to that and as far as
                      competitors, if there are any compelling deals that come
                      our way and they're totally accretive, we would certainly
                      be open to them.

Operator:             Our next question comes from Jeff Harley with Lehman
                      Brothers.

Jeff Harley:          Hi. A few questions, can you talk about end market demand
                      trends in Q2 and what you're seeing in Q3 from your
                      various markets? And also Japan, how much should that grow
                      in '03, and it should account for about how much to your
                      revenue?

John Boruch:          Okay. On the - let's go to Japan first. Japan, kind of
                      this Toshiba joint venture, you know we're talking about
                      the $400 million, so we're talking
<PAGE>
                      about roughly 25% of our revenue is Japan-based activity
                      in 2003. So, a substantial increase over the last several
                      years.

Jeff Harley:          Okay.

John Boruch:          The business of that look good, in what the profile was
                      the growth in Q2 and Q3. Because of our high-tech profile
                      and of our new packages, most of our growth has been in
                      the leading-edge packages. Stacked chip, System in
                      Package, flip chip, some test solutions, like Strip Test
                      and RF.

                      So, I would say that 80% to 90% of our growth was fueled
                      by leading-edge kind of activity. Helping us - so even
                      though the cell phone market didn't grow that much, our
                      activity in the cell phone-based activity grew nicely.

                      We think that will continue in Q3. We're not counting on
                      anything big PC pick up in Q3 but hopefully maybe they
                      will be out there and surprise us all. And then we are
                      looking for consumer activity to raise typically as it
                      does in Q3 and that's pretty much been forecasted by our
                      customers so we see - we saw a nice pick-up in consumer
                      business from Q1 because it was so low. The reason for our
                      Q1 quarter being down was primarily consumer business and
                      it came back to some extent in Q2 and it will come back to
                      a larger percent in Q3 and for the first couple of months
                      in Q4. So that's the profile.

Jeff Harley:          Okay.  And computing?

John Boruch:          Computing has been pretty static for us most of the year
                      and we're still forecasting - pretty static and maybe
                      we'll be surprised in the second half.

Operator:             Our next question comes from Robert Marywood with
                      Semiconductor equipment.com.

Robert Marywood:      Yes, hi. Can you update us as to your status of your
                      facility in China, and perhaps share, there and where you
                      see things in the near term?
<PAGE>
John Boruch:          Yeah, we have some leased space in China. We've been there
                      for a year and a half or so. Recently, it's been growing
                      nicely, but it's been - from a very small base. Just to
                      remind you that there's still less than 5% of our revenue
                      is in China.

                      We do have big plans for the next five years or so for
                      that activity base. We're actually looking for a place to
                      expand into right now because our leased space has limited
                      capability. As we go forward it'll last us certainly
                      through this year and part of next year but we're talking
                      about new space here that have to be planning 18 months
                      out.

                      We first focused on leading edge cell phone packages and
                      that's been successful for us and growing nicely. And now
                      we're looking to gauge what the foundries need from us to
                      support their output and so we're dealing with the SMIC
                      and Grace and the rest of the foundry there. Trying to
                      understand as best we can what they need to service their
                      customers and we'll put those factories - those products
                      in place as we go forward and some of that requires lower
                      lead stuff which we are putting in place right now.

Robert Marywood:      Can you give us a guess for your market share there and
                      pricing in that market?

John Boruch:          You know, there is - I think the local market is quite
                      confusing and quite small. Basically, when you talk about
                      the China market, like us and ChipPac, et cetera, 90% to
                      95% of it is for our normal fabless and IDM customers
                      from the normal base. So, all we're doing is building
                      parts for them that we built elsewhere in the past. It is
                      not necessarily for Chinese customers, but some of that is
                      certainly is for Chinese in consumption but we're not
                      quite sure how much.

Operator:             Our next question comes from James Groom with Morgan
                      Stanley.
<PAGE>
James Groom:          Good afternoon. Two questions: One is, what are
                      you seeing in terms of equipment pricing? So is it going
                      up as you're ordering or maybe it seems like your
                      competitors are ordering more equipment? And two, this is
                      directed at Ken - could you walk us through kind of
                      working capital, looks like that was the big contributor
                      to your cash flow from operations? Was there anything
                      unusual in the quarter and should we expect the trend
                      established in the first quarter to last for the balance
                      of the year?

John Boruch:          I had already gone into equipment pricing. No, we haven't
                      seen any increase or much change in the equipment pricing.
                      It's been very competitive out there for our equipment
                      suppliers for the last two or three years and remains
                      competitive. So we feel pretty stable.

Kenneth Joyce:        With respect to the working capital changes, we had
                      some needs for funds obviously and they're financing the
                      receivables going forward as sales have built in. That's
                      been offset by payables somewhat. And the other thing is
                      that there's been an increase there in the current period
                      with some of the Dongbu receivables coming out of long
                      term into the current which is about $17 million.

                      But other than that, you know, there isn't a real
                      significant change here, James.

James Groom:          And just really quickly -- is there any further payments -
                      are we all set with the asset sale to on the...

James Kim:            No, we still have 20 million shares of ASI which
                      current market value of roughly $80 million and at few
                      times as we announced in the past, we will continue to
                      monetize that without affecting the market.

Operator:             Our next question comes from Shekhar Pramanick with
                      Prudential.
<PAGE>
Shekhar Pramanick:    Hi, good afternoon. Two more questions -- John, did say
                      that you know given 80% of your revenue growth, most of
                      the revenue growth is going to come from leading edge?
                      Should we mean that thing that you have to keep spending
                      the capex at a pretty high cliff to fund the growth? Or
                      did I understand it wrong?

John Boruch:          Yes.  It's not - we still have unbalanced capacity needs.

                      In other words, we may need to fund the leading-edge, we
                      may have to hold back end, but have to buy five-page wire
                      bonders or for stack, we'll have to rub the backend
                      capacity but we have to bind - find placement die bonders
                      because your normal die bonder doesn't work.

                      So, it's more - we're still getting leverage for our
                      investments above well above historical in numbers, but
                      yeah we still have to make investments to achieve that
                      revenue because it is leading-edge we're buying parts of
                      that leading capacities as we go forward.

Shekhar Pramanick:    A question for Ken if I can sneak it in, in Japan, the
                      kind of gross margins you are getting is that you're
                      getting pretty much corporate average or below or if you
                      can give any color.

Kenneth Joyce:        Yes. They're below average right now because it's on a
                      cost plus contract. But they will tend to increase as we
                      bring in third party business into that facility which
                      we've been doing this year, and will accelerate as we come
                      out of the contract.

John Boruch:          Yeah, the business we're bringing is at a higher margin
                      than the JV.

Operator:             Our next question comes from Ted Parmigiani with Lehman
                      Brothers.
<PAGE>
Ted Parmigiani:       Yeah, just two quick follow ups here, on the Japan
                      facility, where is utilization there currently? And how
                      much room do you have to expand as it seems like you're
                      expecting business to expand there over '03 and `04.

John Boruch:          It's a real mix bag there, you know, a lot of lead frame
                      and older products. And then we have our new product we
                      just brought in. I don't have those numbers at my
                      fingertips right now.

Ted Parmigiani::      Okay. And just - in the Q4 optimism you've
                      shared with us today. Yes, it seems like that's a little
                      bit different in terms of having optimism for in a
                      business beyond 80 days at least in the recent quarters in
                      which you talked about the outlook. Is there something
                      particular, maybe by mix or maybe a potential long-term
                      agreement or something that gives you that kind of
                      optimism so far out, relatively speaking?

John Boruch:          You know, I think, primary, it's coming from our
                      customers and their commitment to us we did a six-month
                      forecast and we look at the profile and the mix of that
                      forecast with customers and kind of products and how many
                      of those products are single source or at least double
                      source, maybe at the most. And where we have a competitive
                      advantage and where we have IP and the right technology,
                      with the right customer, and the right relationship that
                      we're saying, "Yeah, it's looking pretty good." That's
                      kind of what we're saying right now.

Operator:             Our next question comes from Timothy Arcuri with Deutsche
                      Bank.

Timothy Arcuri:       Hi. I have a quick follow-up first of all Ken for you. How
                      should we treat taxes the next few quarters here?

Kenneth Joyce:        We're looking at taxes of about 3 million per quarter and
                      what that represents is tax expense for foreign entities
                      where there aren't benefits available. In addition to
                      that, we made a note in this press release, it's not
                      included in our guidance. We will probably recognize a tax
                      benefit in the third quarter.
<PAGE>
                      We're in the process of evaluating that. What that
                      represents is tax benefits related to tax accruals for
                      pre-IPO period that the certain statute of limitations may
                      expire and we would recognize the benefit. If we did that,
                      we'd probably be in the range of $10 to $15 million in Q3.
                      Other than that, you should have the 3 million per
                      quarter.

Timothy Arcuri:       Okay. Thanks. And if I can sneak one more quick one in -
                      you said - I believe it was last quarter, you talked about
                      the break-even target for revenue coming down to $375 to
                      $400 million by Q4. So that suggests that there still
                      some cost to be taken out of the cost structure. Is that
                      still the plan or you're kind of happy with where things
                      are right now?

Kenneth Joyce:        We're kind of ramping up a little bit. As business has
                      picked-up, we've kind of stabilized somewhat so the
                      breakeven is right in the 400 range.

Operator:             Our next question comes from Satya Chillara with WR
                      Hambrecht.

Satya Chillara:       Hi guys. A couple of questions, in Q3 particularly, are we
                      looking at volume growth in the range of 16% like Q2? Or
                      is it the product mix that's driving the revenue growth in
                      Q3 qualitatively, if you can comment on that?

John Boruch:          Yeah, I think right now our assumption is if that we don't
                      have much fixed change and that it's qualitative, we are
                      looking at roughly. You know, if we have a 10% growth in a
                      3% price erosion, you got 13% growth. You know kind of an
                      (unintelligible) pretty close this time. But we could be
                      surprised if mix does change rapidly for us. It could be
                      richer and therefore, the ASP don't erode on the average
                      or we can get a lot of 8 Lead and SO business that we
                      weren't planning on and that could quickly save the mix
                      in the other direction.

Satya Chillara:       Okay. And the next question John, if the capex that you
                      spent so far $85 million. Can you do with a split by
                      assembly and test, how much did you
<PAGE>
                      spend on the assembly and how much in test? And going
                      forward, remaining $65 million, where do you plan to
                      spend?

John Boruch:          I'll just give you the year. Roughly, you know, we still
                      have a budget of $150 million for the year and out of that
                      around $30- $40 million will be for test. Okay.

Operator:             Gentlemen, at this time I show we have no further
                      question. Please continue with any closing comment you
                      would like to make.

John Boruch:          Well, I want to thank everybody for the being on the call.
                      Let's look forward to a good quarter and continue on.
                      Thank you very much.

Operator:             Ladies and gentlemen, this concludes the Amkor second
                      quarter earnings conference call. If you would like to
                      listen to a replay at today's conference, please dial
                      (303) 590-3000 followed by an access code of 540790. Once
                      again, if you want to listen to our replay of today's
                      conference please dial (303) 590-3000 followed by an
                      access code of 540790. We thank you for your participation
                      and you may now disconnect.

                                       END

