physical chemistry - Henry law and equilibrium

Is Henry's law a consequence of the equilibrium between a substance S in aqueous phase and the same substance S in gaseous phase? What I mean is, is it correct to treat Henry law as a manipulation of the equation for the equilibrium constant, where

$$ \ce{S(g) <=> S(aq)}, \ \ \ K=\frac{[S_{aq}]}{p_S}$$

$$\rightarrow K \times p_S = [S_{aq}]$$

which is Henry law ($p_S$: partial pressure of S in the gas phase; $[S_{aq}]$: concentration of S in aqueous solution).