Prime Minister nominee Kim Boo-kyum vowed to crack down on real estate-related corruption and work to stabilize the nation's housing supply and their prices.

At his parliamentary confirmation hearing on Thursday, Kim acknowledged that the administration has greatly disappointed the public with its real estate policies and with how some public officials have engaged in speculative activities.

Pledging to eradicate real estate speculation following a scandal involving the state-run Korea Land and Housing Corporation(LH), the nominee vowed to meet the needs of homeseekers under the government's anti-speculation policies.

Kim promised to accelerate post-COVID-19 recovery and to boost efforts to help the nation become a leading economy.

He also vowed to listen to the voices of the country's younger generation struggling to find jobs and affordable housing amid the prolonged pandemic.