5G New Radio (NR) has stringent demands on both performance and complexity for the design of low-density parity-check (LDPC) decoding algorithms and corresponding VLSI implementations. Furthermore, decoders must fully support the wide range of all 5G NR blocklengths and code rates, which is a significant challenge. In this paper, we present a high-performance and low-complexity LDPC decoder, tailor-made to fulfill the 5G requirements. First, to close the gap between belief propagation (BP) decoding and its approximations in hardware, we propose an extension of adjusted min-sum decoding, called generalized adjusted min-sum (GA-MS) decoding. This decoding algorithm flexibly truncates the incoming messages at the check node level and carefully approximates the non-linear functions of BP decoding to balance the error-rate and hardware complexity. Numerical results demonstrate that the proposed fixed-point GA-MS has only a minor gap of 0.1 dB compared to floating-point BP under various scenarios of 5G standard specifications. Secondly, we present a fully reconfigurable 5G NR LDPC decoder implementation based on GA-MS decoding. Given that memory occupies a substantial portion of the decoder area, we adopt multiple data compression and approximation techniques to reduce 42.2% of the memory overhead. The corresponding 28nm FD-SOI ASIC decoder has a core area of 1.823 mm(2) and operates at 895 MHz. It is compatible with all 5G NR LDPC codes and achieves a peak throughput of 24.42 Gbps and a maximum area efficiency of 13.40 Gbps/mm(2) at 4 decoding iterations.