Globalization, liberalization, and informatization have ushered in an era of unlimited competition. Today's competitive firms have, without exception, devoted their full efforts over the past decade or so to transforming their management practices in order to survive in competition. In the process of management restructuring and transformation efforts in response to this new business environment, human resource management has also had to dramatically alter its roles and functions based on a new paradigm. The purpose of this paper is to identify the model, scope, and content that Korean firms should target for human resource management innovation. In particular, it aims to present an innovation model focusing on the theory and practice required in the transition from a non-competitive seniority-based model to a competitive market-based model. Specifically, the paper emphasizes the directional shift from a seniority-based model to a market-based model as human resource management innovation and addresses the associated theory and practice. However, even within a market-based model, the critical question is what kind of market model is appropriate for Korean conditions and how to construct it. That is, our concern must be the construction of a Korean market model that respects the universality of the market model emphasizing ability and performance while adapting it to Korea's economic, technological, and socio-cultural characteristics. Given the situational characteristics, our human resource management market model is judged to be more feasible and appropriate as a compromise market model—the "core-periphery model"—rather than a complete market model. Efforts to enhance competitiveness are needed, with core personnel focused on the internal labor market and peripheral personnel focused on external labor market transactions. Therefore, the focus of human resource management innovation should be placed on constructing a market model for developing a competitive internal labor market to strengthen the competitiveness of core personnel. In this context, the paper presents the direction and content of human resource management innovation for market-competitive career development management in relation to "product"—the most critical domain of the marketing 4P model—and human resource management innovation for market-competitive wage management in relation to "price."