Munich is the English name for the German town München. According to the Longman Pronunciation Dictionary, it has two different pronunciations. The more common one is [mjuˈnik], and the less common one is [mjuˈnix]. In the first variant, the ch is pronounced just like k, whereas in the second variant, it is pronounced like the German ch, or like the ch in Loch (Ness). If you are German, be careful not to pronounce the u as ü, see here.