Exports are not good, and employment growth is slowing and youth unemployment is growing due to sluggish investment and slowing vitality in the private sector he said. "Frankly, we have a situation where we don't have much room to create jobs. South Korea's ruling Saenuri Party suf fered a surprise defeat in parliamentary elections in April, stoking worry that it will get even tougher for the government of President Park Geun-hye to implement key economic reforms.