Exhibit 12.1

MagnaChip Semiconductor LLC

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Predecessor													Successor
	For the year ended December 31,									For the three months ended March 31, 2004		For nine months ended September 30, 2004		For the three months ended
	2001			2002			2003							December 31, 2004		April 3, 2005
	Actual			Actual			Actual			Actual		Actual		Actual		Actual
	(in millions of US dollars, except ratios and per unit data)
Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees	$	(154.9	)	$	(176.5	)	$	(112.3	)	$	9.1	$	46.0	$	0.9	$	(28.9	)
Fixed charges:
Interest expense and amortization of debt discount and premium on all indebtedness		92.0			46.9			38.0			7.3		18.0		17.6		14.2
Rent expense		0.5			0.8			0.5			0.3		0.8		0.5		0.5
Preferred stock dividend requirements of consolidated subsidiaries		—			—			—			—		—		13.4		2.4
Total fixed charges	$	92.5		$	47.7		$	38.5		$	7.6	$	18.8	$	31.5	$	17.1
Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees plus fixed charges, less preferred stock dividend requirements of consolidated subsidiaries	$	(62.4	)	$	(128.8	)	$	(73.8	)	$	16.7	$	64.8	$	19.0	$	(14.2	)
Ratio of earnings to fixed charges		—			—			—			2.2		3.4		—		—
(*)    Applying one-third of rental expenses relating to operating leases as the interest portion
(**) To achieve a one to one earnings ratio the company would need to have additional income of:	$	154.9		$	176.5		$	112.3		$	N/A	$	N/A	$	12.5	$	31.3