(1) Every employer who runs a business or place of business prescribed by Presidential Decree, taking into consideration the size of business, the characteristics of each industry, and other relevant factors, shall purchase a guaranty insurance policy in preparation for delay in payment of wages to foreign workers employed by him or her.
(2) Every foreign worker who works as an employee in any business or place of business prescribed by Presidential Decree, taking into consideration the characteristics of each industry and other relevant factors, shall purchase a personal injury insurance policy in preparation for illness, death, and other accidents.
(3) Matters necessary for the method of subscription and coverage of the guaranty insurance and the personal injury insurance under paragraphs (1) and (2) and the management and payment of such insurances, and other relevant matters shall be prescribed by Presidential Decree.[This Article Wholly Amended on Oct. 9, 2009]