Kim Byoung-hwan, the nominee to head the Financial Services Commission(FSC), said he will manage real estate project financing(PF) and household debt to stabilize the financial market.

Speaking at his confirmation hearing on Monday, Kim pointed out uncertainties such as monetary policy shifts in major economies and the upcoming U.S. presidential election, high domestic interest rates and inflation as being potential risk factors to look out for.

Kim said he would respond to such risks by pursuing four policies: stabilizing the financial market, enhancing the competitiveness of the financial industry, protecting financial consumers and supporting the real economy.

The FSC chief nominee pointed out that real estate PF and household debt problems continue to occur due to the nation's excessively debt-dependent financial structure, adding he would seek ways to improve it.

Addressing real estate PF issues specifically, Kim said would work to induce a soft landing based on business feasibility assessments while managing the recent sharp increase in household debt by strengthening the debt-service ratio(DSR).