Company: OSRH
Filing Date: 2025-05-28
Form Type: S-1
Source: 0001213900-25-048346
Chunk: 63

Company: OSR Holdings, Inc.
Filing Date: 2025-05-28
Form: S-1
Chunk 63
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 risk management principles and specific areas such as foreign exchange risk,
interest rate risk, credit risk, use of derivative and non-derivative financial instruments, and investments in excess of liquidity.

Market risk management

Market risk is the risk of possible
losses which arise from the changes of market factors, such as interest rate, stock price, foreign exchange rate, commodity value and
other market factors related to the fair value or future cash flows of the financial instruments, such as securities, derivatives and
others.

42

| a | Currency 
 risk     |

The following table sets forth the result
of foreign currency translation into Korean won for financial assets and liabilities denominated in foreign currency of the Group as of
March 31, 2025 and December 31, 2024:

|                                 |     | March 31, 2025 |            |     |     |          |   |     |     |          |   |
|:--------------------------------|:----|:---------------|-----------:|:----|:----|---------:|:--|:----|:----|---------:|:--|
|                                 |     | USD            |            |     | EUR |          |   |     | CHF |          |   |
| Assets in foreign currency      |     | $              |  1,272,464 |     | $   |  305,601 |   |     | $   |  591,247 |   |
| Liabilities in foreign currency |     |                | 11,334,006 |     |     | (172,887 | ) |     |     | (208,705 | ) |

|                                 |     | December 31, 2024 |           |     |     |         |     |     |         |
|:--------------------------------|:----|:------------------|----------:|:----|:----|--------:|:----|:----|--------:|
|                                 |     | USD               |           |     | EUR |         |     | CHF |         |
| Assets in foreign currency      |     | $                 |    37,902 |     | $   | 278,766 |     | $   | 582,222 |
| Liabilities in foreign currency |     |                   | 1,929,368 |     |     | 139,672 |     |     | 160,875 |

The following table sets forth the impact of strengthening
(or weakening) of the Korean