2018年经济学人 韩国财阀:三星的千亿美元投资(1)

（单词翻译）

Samsung rarely talks in public about its corporate¹ strategy.

三星很少公开谈论其企业战略。

So when South Korea's biggest chaebol (conglomerate²) announced with much fanfare³ in early August

所以8月初，当韩国最大财阀（企业集团）多少带有炫耀意味地宣布

that it would invest 180trn won ($161bn) over the next three years, on top of another boost in spending last year,

未来三年，将在去年九月促进支出的基础上，再投资180万亿韩元（1610亿美元）时，

observers noted⁴ that it came days after a meeting between Lee Jae-yong, the group's de facto leader, and Kim Dong-yeon, South Korea's finance minister.

观察员注意到在该消息宣布前，三星实际领导者李在镕和韩国财务部长金东兖进行了会面。

Was Samsung trying to commend itself as a good corporate citizen to a government that has pledged to rein⁵ in the power of the chaebol?

三星是否是想通过保证公司会放慢对财阀的控制，从而向政府证明自己是个良好的企业公民呢？

Shovelling⁶ spare cash to research and development seems sensible enough for a company facing declining sales of smartphones,

智能手机一直都是三星的摇钱树，而如今三星面临智能手机销售额下滑，

which have long been its cash cow.

那么将闲钱投入研究和开发之中，是非常理智的。

Both smartphones and semiconductors⁷, another important source of profits,

手机和半导体都是其利润的重要来源，

look vulnerable to competition from China, where rivals can count on generous government support.

两者在与中国对手的竞争中看起来十分脆弱，因为这些对手可以依靠政府慷慨的支持。

That explains why around 90% of the extra money will go to Samsung Electronics, chiefly the chipmaking business.

这也就解释了为什么额外投资资金中的约90%会流入三星电子，主要是流入芯片制造业。

(Across the conglomerate, 25trn won has been set aside to dabble⁸ in artificial intelligence, biotechnology and other more speculative⁹ ideas.)

（纵观整个企业集团，已拨出25万亿韩元用于尝试人工智能、生物技术和其他更多投机行业。）

But investors¹⁰, who have cooled on Samsung since May because of weak chip sales,

但是自5月起，由于芯片销量不佳而对三星冷淡的投资者

appear unconvinced that the plan will reverse a slowdown in profit growth.

似乎不相信这个计划会扭转利润增长缓慢的局面。

The share price has kept sliding this month, to its lowest level in over a year.

本月公司股价一直下滑，低至一年最低点。

This has fuelled suspicions that moneymen may not have been the plan's only, or even main, intended audience.

这更加刺激了大家的怀疑—投资者或许并不是该计划唯一或者甚至是主要的目标观众。