(1) The Minister of Employment and Labor may, as prescribed by Presidential Decree, provide necessary assistance to a business owner who finds it inevitable to adjust employment due to downsizing, closing, or conversion of his or her business following changes in business conditions or industrial structures or other similar circumstances, when he or she makes efforts to improve employment security, such as business suspension, layoff, manpower relocation, and vocational skills development training for career changes. In such case, where the wage (referring to the wage defined in Article 2(1)5 of the Labor Standards Act; hereinafter the same shall apply) of an employee decreases to the level prescribed by Presidential Decree following measures to improve employment security including business suspension and layoff, the Minister of Employment and Labor may provide necessary assistance to the employee, as prescribed by Presidential Decree. <Amended on Jun. 4, 2010; Jan. 23, 2013; Aug. 27, 2019>
(2) The Minister of Employment and Labor may, as prescribed by Presidential Decree, provide necessary assistance to a business owner who employs an employee who has left his or her job due to the employment adjustment made under paragraph (1) or otherwise improves employment security for employees whose employment has become precarious. <Amended on Jun. 4, 2010>
(3) In providing assistance, as prescribed in paragraph (1), the Minister of Employment and Labor may give priority to business owners or employees operating or working in an industry or area described in Article 32 of the Framework Act on Employment Policy. <Amended on Oct. 9, 2009; Jun. 4, 2010; Jan. 23, 2013>