韓國如何讓民主與商業並進

In South Korea, both the country’s most important business leader and its previous president are behind bars, the former convicted of corruption, the other on trial for it.

韓國最重要的商業領袖和前任總統都身陷囹圄，前者被判犯有行賄罪，後者也正因腐敗罪名受審。

The situation may not be unprecedented in states experiencing coups or collapses. But South Korea is a democracy, standing squarely on its own feet. The trials have been conducted by an independent judiciary. The arrest of former president Park Geun-hye followed citizens’ peaceful demonstrations against bribery and cronyism. Last week’s conviction of Lee Jae-yong, the vice-chairman and de facto leader of the Samsung chaebol, has not — so far — been derailed by that group’s immense influence. South Korea, a country long characterised by too-close relationships between corporations and government, could be in the opening stages of a bloodless and lawful revolution.

在經歷了政變或崩潰的國家，這種局面可能並不是前所未有的。但韓國是一個完全獨立自主的民主國家。兩起案件都由獨立的司法部門審理。在韓國民衆舉行和平示威、抗議腐敗和裙帶政治的背景下，前總統朴槿惠(Park Geun-hye)被捕。上週，三星(Samsung)財閥事實上的領導人、該集團副會長李在鎔(Lee Jae-yong)被定罪，到目前爲止，本案尚未被該集團巨大的影響力所左右。企業和政府之間關係過密是韓國長久以來的一個特徵，如今這個國家可能正處於一場非暴力、合法的革命的起始階段。

Much remains to be done to invigorate both democracy and business in South Korea, and ensure the proper distance between the two.

韓國還需要付出很多努力，以搞活民主和商業，並確保兩者之間保持適當距離。

The recent events form a coda to a half century of astonishing change. In 1970 less than half of South Koreans went to secondary school. Now they are more likely to graduate from university than people in any other country. In five decades, gross domestic product per person has risen 20-fold to nearly $40,000 (adjusted for the local cost of living). This demonstrated that rapid growth and democracy can go hand in hand.

最近的事件正給韓國半個世紀以來令人驚歎的變化畫上句號。1970年時，只有不到一半韓國人上過中學。如今韓國的大學畢業生比例超過其他所有國家。過去50年裏，韓國人均國內生產總值(GDP)增長了19倍，達到近4萬美元（根據當地生活成本進行調整後的數字）。這證明經濟快速增長和民主可以攜手並進。

As in other developing countries, family-run conglomerates — with their stable leadership, internal sources of financing and shared management resources — proved an effective corporate structure for a fast-growing, export-oriented economy. The government was determined to see these growth engines succeed. The result was a group of companies, with Samsung at the fore, that were equal — or even superior — in civic importance to the government itself.

正如其他發展中國家所表明的那樣，在快速增長、出口導向型的經濟中，大型家族企業集團——擁有穩定的領導層、內部融資來源以及共享的管理資源——被證實是一種有效的企業結構。韓國政府決心要看到這些拉動經濟增長的企業取得成功。結果就是，以三星爲首的一幫企業在民事上與政府地位相當、甚至高於政府。

Deep links between the state and the chaebol served the country in one stage of its history. But institutions that once nurtured nascent industries can also shelter entrenched interests. Ms Park is on trial, in part, for colluding in extorting funds from companies. The case against Mr Lee turned on a merger among Samsung subsidiaries which would have consolidated family control at the expense of minority shareholders. Prosecutors argued that he paid bribes to one of Ms Parks’ associates to ensure the deal would go through.

在韓國曆史的一個階段內，政府與財閥之間的深層聯繫有助於國家發展。但曾經培育了新興產業的機構，也可能保護既得利益。朴槿惠受審，部分是因爲與他人串通敲詐企業錢財。李在鎔案引出了三星子公司的一樁合併案——該起合併以犧牲少數股股東的利益爲代價鞏固了家族控制。檢方認爲，李在鎔向朴槿惠的一名助手行賄，以確保該交易順利通過。

The chaebol have not, however, protected the country’s younger generation from high unemployment. They know that the old economic and civic order requires fundamental change.

然而，財閥沒有使韓國年輕一代免受高失業率的困擾。他們知道，舊的經濟和公民秩序需要徹底改變。

The next step is ensuring that the justice system continues to operate unimpeded. If Mr Lee’s conviction is upheld on appeal, he should not be pardoned — as his father was, twice, for financial wrongdoing. The current president, Moon Jae-in, has vowed not to extend a pardon, but he will be under terrific pressure. Similarly, the treatment of Ms Park must demonstrate that all are equal before the law.

下一步是確保司法體系繼續不受阻礙地運行。如果在上訴階段法院維持對李在鎔的判決，他不應該得到赦免——他的父親曾兩次因爲財務違規行爲被定罪而後又被特赦。現任總統文在寅（Moon Jae-in，見文首圖）發誓不會予以特赦，但他將承受巨大壓力。同樣，對朴槿惠的審理必須展現出法律面前人人平等。

Next, chaebol reform must continue apace. The first target is the cross-shareholdings that help maintain insider control in the absence of majority economic ownership. Samsung, under pressure from international investors and regulators, has already begun to untangle its group structure. The push should be redoubled. Mr Moon and his “chaebol sniper” Kim Sang-jo, head of the country’s Fair Trade Commission, must also follow through on their commitment to vigorous antitrust reform. If these and other promises are broken, South Korea’s 50-year success story will be at risk.

接下來，財閥改革必須繼續快速推進。第一個目標是交叉持股——在財閥並未持有企業多數經濟所有權的情況下，交叉持股幫助他們維持了內部控制。在國際投資者和監管部門的壓力下，三星已經開始着手整頓其集團架構。此番改革應該加倍努力。文在寅和他的“財閥狙擊手”——韓國公平貿易委員會(Fair Trade Commission)主席金相九(Kim Sang-jo)也必須遵守他們的承諾，大力推動反壟斷改革。如果這些以及其他承諾未被履行，韓國半個世紀以來書寫的成功故事就不妙了。