The Korean economy has been in the jobless growth since 2003. To achieve both economic growth and employment creation, there are consensus that Korean economy should be concentrated on the service industry. We need to find out the breakthrough with the service industry which could create more jobs rather than the manufacturing industry. With the critical mind, this paper will see over the current stage of the service industry from the view point of the job creation and then concentrate on the Employment Security Act which is estimated to have great effect on the job creation. The reasons why the Employment Security Act was made are (1) To provide the chance of the employment, (2) To supply the labor force to the industrial field and (3) For the job stability. To tell the bottom line, the law shall secure the fundamental human rights for the labors and provide sufficient chances of employment from both public and private. However, this paper will point out that the current Employment Security Act is insufficient upon the idea of legislation. This paper will insist that we need to change the name of the Employment Security Act to ‘employment service law’ and its ground rule shall be oriented to the introduction of employment, the dispatch of the employees, the supply for the employees and head hunting. With these ideas, this paper will propose that the Employment Security Act should be amended for the supply and demand of the labor force as well as the promote of employment service industry.

The Korean economy has been in the jobless growth since 2003. To achieve both economic growth and employment creation, there are consensus that Korean economy should be concentrated on the service industry. We need to find out the breakthrough with the service industry which could create more jobs rather than the manufacturing industry. With the critical mind, this paper will see over the current stage of the service industry from the view point of the job creation and then concentrate on the Employment Security Act which is estimated to have great effect on the job creation. The reasons why the Employment Security Act was made are (1) To provide the chance of the employment, (2) To supply the labor force to the industrial field and (3) For the job stability. To tell the bottom line, the law shall secure the fundamental human rights for the labors and provide sufficient chances of employment from both public and private. However, this paper will point out that the current Employment Security Act is insufficient upon the idea of legislation. This paper will insist that we need to change the name of the Employment Security Act to ‘employment service law’ and its ground rule shall be oriented to the introduction of employment, the dispatch of the employees, the supply for the employees and head hunting. With these ideas, this paper will propose that the Employment Security Act should be amended for the supply and demand of the labor force as well as the promote of employment service industry.

Service Industry, Employment Service, Job Creation,Employment Security Act, Job Placement, Unemployment