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This study examines police officers’ job satisfaction based on social exchange theory. This study conceptualizes two components of social exchange which could be relevant to job satisfaction: “perceived organizational support,” and “lead-member exchange.” To test the hypotheses, survey data from police officers in Daegu are collected and analyzed. Principal component method is used to see which items cluster together in each factor and to calculate factor scores. Multiple regression analysis identifies several factors which have significant effects on job satisfaction. The results show that both “perceived organizational support” and “lead-member exchange” have significant effects on job satisfaction. When police officers perceive that their organizations strongly support them, they satisfy with their job. Moreover, police officer’s job satisfaction is high when they are in good relations with their leaders. These effects are remain significant when the two variables are included together in the regression model. These findings suggest that social supports from organizations and leaders would increase police officers’ job satisfaction.