~이에요 is another most frequently used expression in Korean. It literally means “something or someone is _____.” It clearly states the existence or the identity of someone or something (singular and plural all together). You can read this as [ee-eh-yoh]. ~입니다 [eem-nee-dah] is the same, but more formal. These two expressions are predicative, so they are placed at the end of the sentence; the subject and the complement precede.
I am Tim. [저는 팀입니다. (juh-noon Tim eem-nee-dah.)] – 저는 is I in subjective form; 팀 Tim
My car is Sonata. [My car 쏘나타이에요.] – 쏘나타 [ssoh-nah-tah; Sonata]