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The ruling and conservative GrandNationalParty said it has no plans to introduce legislation.
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His closest rivals are the candidate of the ruling GrandNationalParty, Mr Lee Hoi-Chang.
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Lawmakers in the ruling GrandNationalParty say a South Korea-U.S. free trade pact now pending in parliament may not be ratified until April.
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President Lee Myung-bak's conservative GrandNationalParty used its majority to approve the bill, while opposition members walked out in protest against the mission.
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South Korea's main opposition party, the GrandNationalParty, said today it would end a parliamentary boycott which has crippled the legislature since last week.
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But the main opposition GrandNationalParty, with sufficient numbers to hold up the choice, had forced Mr Kim Jongpil to serve as acting premier.
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The popularity of Lee's conservative GrandNationalParty is falling amid a public outcry over the widening wealth divide, high prices and disappointing job growth.
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Hong Joon-pyo, the leader of a ruling GrandNationalParty parliamentary faction, recently proposed selling a stake in Woori to low-income earners at a discount.
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- Infighting in Lee's conservative GrandNationalParty is widely held responsible for sharply reducing its winning margin in April's parliamentary election.