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The riddle of Samsung

机译：三星之谜

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EVEN IN A corporate world rife with despotic founders, complex cross-shareholdings and cultlike initiation rituals, Samsung stands out as the most mysterious of firms. Founded in 1938 as a provincial vegetable and dried-fish shop, it has grown into a conglomerate accounting for a fifth of South Korea's exports. Its crown jewel, Samsung Electronics, has for years been one of the world's biggest seller of smartphones, televisions and chips, with a market capitalisation of more than $270bn and 310,000 workers in 74 countries. The group's riveting story, chronicled in a new book, "Samsung Rising", by Geoffrey Cain, is one of entrepreneurial derring-do and excruciating work habits mixed with scandals, vendettas and political intrigue. What the author (a former contributor to this newspaper) skips over is how a company with so many well-documented flaws can be such a resounding success. To get a sense of the Samsung enigma consider first its ruling dynasty. Long before Kim Jong Un, North Korea's dictator, disappeared from view in April, Samsung's chairman, Lee Kun-hee, vanished into hospital. The 78-year-old has not been heard from since 2014. No one outside the family knows how ill he is. His only son and heir-apparent, Lee Jae-yong, aged 50, faces a retrial on charges of influence-peddling, for which he spent almost a year behind bars in 2017-18. Jay, as he calls himself, has exerted huge influence over Samsung Electronics despite directly owning a tiny fraction of its shares and no longer sitting on its board, thanks to an ownership structure set up around other group holdings and family foundations. It is not clear who would represent the clan's interests if Jay were found guilty.
机译：即使在一个充满专制创始人，复杂的交叉持股和邪教般的创始仪式的企业世界中，三星也脱颖而出，成为最神秘的公司。它成立于1938年，最初是一家省级蔬菜和干鱼店，如今已发展成为一个集团企业，占韩国出口总额的五分之一。多年来，三星电子一直是全球最大的智能手机，电视和芯片销售商之一，其市值超过2700亿美元，在74个国家拥有31万名员工，是三星电子的最大卖主之一。杰弗里·凯恩（Geoffrey Cain）在一本新书《三星崛起》中记载了该组织的铆接故事，这是一种企业家刻薄的做事和令人发指的工作习惯，加上丑闻，仇杀和政治阴谋。作者（本报的前撰稿人）跳过的是一家拥有如此多有据可查的缺陷的公司如何才能取得如此巨大的成功。为了了解三星之谜，首先考虑其统治王朝。在四月朝鲜独裁者金正恩（Kim Jong Un）失踪之前很久，三星董事长李坤熙（Lee Kun-hee）消失在医院。自2014年以来就一直没有这名78岁的老人的消息。家人以外的人都不知道他的病情。他的独生子和继承人李在勇现年50岁，因影响力兜售的指控而面临重审，为此他在2017-18年度在监狱里度过了近一年的时间。杰伊（Jay）称自己为三星电子，尽管直接拥有一小部分股份并且不再担任董事会成员，但由于围绕其他集团股份和家族基金会建立了所有权结构，因此对三星电子产生了巨大影响。如果杰伊被判有罪，尚不清楚谁代表家族利益。

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    《The economist》 |2020年第9192期|53-53|共1页
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