Former Prime Minister Hwang Kyo-ahn has announced his candidacy for the main opposition Liberty Korea Party's(LKP) leadership election slated for February 27th.

Hwang, who served as acting president after former President Park Geun-hye was suspended from office in late 2016, said he will revive the country facing a crisis of regressing to past ways.

He criticized the Moon Jae-in administration's income-led growth policies as being outdated and said peace cannot be achieved on the Korean Peninsula with Pyongyang's nuclear arms, dictatorship and human rights violations.

Hwang then vowed to push for a project to transform the economy and to scrap the government's income-led growth and nuclear-free policies when elected party chief.

Recent polls show that Hwang is viewed by conservative voters as one of the most favorable candidates for the 2022 presidential election.