Eldon: Insiders must end outside barriers

David Eldon

Breaking down barriers to foreign investment here has to come from the inside, the first non-Korean to work for a Korean president-elect said.
“There should be a level playing field for business,” David Eldon said in a phone and e-mail interview recently. “This means that the authorities must be equally fair to everyone ― whether they are foreign or domestic. So this must be determined by the authorities in Korea ― which is why I said it must come from within.”
The Scottish-born, Hong Kong-based British-national is co-chairman of President-elect Lee Myung-bak’s committee to enhance Korea’s national competitiveness.
Eldon is also considered a candidate for a minister-level job in the new administration, a post no foreigner has ever held. However, Eldon said, “We have not discussed any position in the forthcoming administration.”
He has been making a name for himself both in the Middle East and the Far East, with his work in Dubai and Hong Kong. Describing himself as born to a “working class” family, Eldon retired in 2005 as the chairman of the Hong Kong Shanghai Bank, or HSBC, after 37 years with the firm. He is also the chairman of the Dubai International Financial Centre, in a state known for its expatriate-friendly culture.
Eldon first visited Korea in the early 1990s for the banking business, and met Lee while he was mayor of Seoul. The two worked together to make Seoul more friendly to expatriates and foreign investors through the Seoul International Business Advisory Council, which Lee launched.
Eldon said he knows Korea can be a challenge for foreigners, noting he’s seen the panicked look on waitresses’ faces as he’s entered restaurants. Still, he says, he enjoys Seoul and has gotten warm help from Koreans many times.
Eldon is planning to come to Seoul later this month for Lee’s inauguration.

By Chun Su-jin Staff Reporter [sujiney@joongang.co.kr]