Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 109

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1
Chunk 109
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 our cash flow and negatively impact the returns to investors.

New or higher taxes resulting from changes in tax regulations
or the interpretation thereof in South Korea could adversely affect our results of operations and financial condition in the future.

New tax laws and regulations, and uncertainties with respect to future
tax policies pose risks to us. Changes in tax-related laws and regulations, and interpretations thereof, can create additional tax
burdens on us and our businesses by increasing tax rates and fees, creating new taxes, limiting tax deductions, and/or eliminating tax-based incentives
and non-taxed income. In addition, tax authorities and competent courts may interpret tax regulations differently than us, which
could result in tax litigation and associated costs and penalties in part due to the novelty and complexity of new regulation.

A focus on regulating copyright and patent infringement by the
Korean government subjects OSR to extra scrutiny in its operations and could subject OSR to sanctions, fines, or other penalties, which
could adversely affect the Company’s business and operations in Korea.

The Korean government has recently focused on addressing copyright
and patent infringement in Korea. Despite measures we have taken to address copyright and patent infringement, the Korean government may
subject us to sanctions, fines, or other penalties, which could adversely affect our business and operations in Korea.

56

We are a global organization with business operations in the
United States, Korea, Switzerland, and in other European Union countries, which makes us subject to a variety of additional risks
that may negatively impact our operations, many of which have already manifested and are likely to increase, given recent executive action
in the United States.

We and currently all of our subsidiaries and investments conduct operations
outside of the United States, so that we are subject to the special considerations or risks associated with companies operating in
the United States and in an international setting, including any of the following:

●higher costs and difficulties inherent in managing cross-border business
operations and complying with different commercial and legal requirements of overseas markets;

●rules and regulations regarding currency exchange;

●complex corporate withholding taxes on individuals;

●laws governing the manner in which future business combinations
may be effected;

●tariffs and trade barriers;

●regulations related to customs and import/export matters;

●longer payment cycles and challenges in collecting accounts
receivable;

●tax issues, including but not limited to tax law changes and
variations in tax;

●currency fluctuations and exchange controls;

●rates of inflation;

●cultural and language differences