Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 102

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1
Chunk 102
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 our employees, independent contractors, consultants, commercial partners, and vendors. This misconduct
could encompass intentional, reckless, or negligent actions that result in failure to: adhere to the regulations of the FDA or similar
foreign regulatory bodies; provide accurate and complete information to the FDA and equivalent foreign regulatory authorities; adhere
to the manufacturing standards we have established; comply with healthcare fraud and abuse laws in the United States and similar
fraudulent misconduct laws in other countries; adhere to applicable privacy and data security laws in the United States and in other
countries; or accurately report financial information or disclose unauthorized activities.

Risks Related to International Operations of the Company’s
Business

The following risk factors reference the risks and uncertainties
relating to the international operations of OSR, which, following the closing of the Business Combination, will be the international operations
of the Company. References in this section to “we,” “us,” and “our” refer to OSR prior to the closing
of the Business Combination and to the Company after closing.

53

If political and economic conditions in South Korea deteriorate,
our current business and future growth could be materially and adversely affected.

OSR is headquartered in the Republic of Korea (“Korea”)
and significant operations and assets are located in Korea. There is currently a high level of political unrest occurring in Korea. As
a result, we are subject to political, economic, legal and regulatory risks specific to Korea, and our performance and successful fulfilment
of our operational strategies are dependent in part on the overall Korean economy. The economic indicators in Korea in recent years
have shown mixed signs of growth and uncertainty, and the current political environment in Korea is expected to continue to result in
an erosion of the currency exchange rate between the Korean Won and the U.S. dollar. As a result, future growth of the Korean economy
is subject to many factors beyond our control, including developments in the global economy.

The Korean economy is closely tied to, and is affected by developments
in, the global economy. In recent years, adverse conditions and volatility in the worldwide financial markets, fluctuations in oil
and commodity prices, and the COVID-19 pandemic, have contributed to the uncertainty of global economic prospects in general
and have adversely affected, and may continue to adversely affect, the Korean economy. Due to liquidity and credit concerns and volatility
in the global financial markets, the value of the Korean Won relative to the U.S. dollar and other foreign