Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 103

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1
Chunk 103
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 currencies and the stock
prices of Korean companies have fluctuated significantly in recent years. Further declines in the Korea Composite Stock Price Index,
and large amounts of sales of Korean securities by foreign investors and subsequent repatriation of the proceeds of such sales may adversely
affect the value of the Korean Won, the foreign currency reserves held by financial institutions in Korea, and the ability of Korean companies
to raise capital. Any future deterioration of the Korean economy or the global economy could adversely affect our business, financial
condition, and results of operations.

Fluctuations in exchange rates could result in foreign currency
exchange losses to us.

The value of the Korean Won and other currencies against the U.S. dollar
has fluctuated, and may continue to fluctuate and is affected by, among other things, changes in political and economic conditions. Since
late 2024, there has been an increased level of political unrest in Korea, including the impeachment and arrest of the Korean President
and the exchange rate between the Korean Won and the U. S. dollar has been adversely affected. It is difficult to predict how market forces
or Korean or U.S. government policy, including interest rate changes by the U.S. Federal Reserve, may impact the exchange rate between
the Korean Won and the U.S. dollar in the future.

A substantial percentage of our revenue and costs are denominated in
Korean Won, and a significant portion of our financial assets are also denominated in Korean Won, while we anticipate that a substantial
portion of any debt incurred will be denominated in U.S. dollars. We are a holding company and we may receive dividends, loans and
other distributions on equity paid by our operating subsidiaries in Korea. Any significant fluctuations in the value of the Korean Won
may materially and adversely affect our liquidity and cash flows. For example, the depreciation of the Korean Won and other foreign currencies
against the U.S. dollar typically results in a material increase in the cost of hosting services and equipment purchased from outside
of Korea and the cost of servicing debt denominated in currencies other than the Korean Won. As a result, any significant depreciation
of the Korean Won or other major foreign currencies against the U.S. dollar may have a material adverse effect on our results of
operations. If we decide to convert our Korean Won into U.S. dollars for the purpose of repaying principal or interest expense on
any future U.S. dollar-denominated