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Market Chatter: Samsung Biologics Union Backs Departure From Group Labor Federation; Shares Jump 4%

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The labor union of Samsung Biologics (KRX:207940) on Sunday voted to exit the Samsung Group federation, with an aim to alter the union's organizational structure, Pulse News reported Monday.

The union conducted a vote from June 24 to June 28, with 2,392 of 2,479 participating members, or 96.5%, backing the proposal to quit the group federation. The proposal required a majority turnout and approval from at least two-thirds of participating members to pass, according to the report.

Samsung Biologics did not immediately reply to' request for comment.

Shares of the company jumped nearly 4% in recent trade.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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