$$
\min_{c^{(1)}, c^{(2)}, \cdots, c^{(m)}; \\ \mu_1, \mu_2, \cdots, \mu_K}
\frac{1}{m}
\sum_{i=1}^m \left\lVert \vec{x}^{(i)} - \mu_{c^{(i)}} \right\rVert
$$
The \\ does not seem to do the trick? How?
$$
\min_{c^{(1)}, c^{(2)}, \cdots, c^{(m)}; \\ \mu_1, \mu_2, \cdots, \mu_K}
\frac{1}{m}
\sum_{i=1}^m \left\lVert \vec{x}^{(i)} - \mu_{c^{(i)}} \right\rVert
$$
The \\ does not seem to do the trick? How?
You can use a \substack:

\documentclass{article}
\usepackage{amsmath}
\begin{document}
[
\min_{\substack{c^{(1)}, c^{(2)}, \cdots, c^{(m)}; \ \mu_1, \mu_2, \cdots, \mu_K}}
\frac{1}{m}
\sum_{i=1}^m \left\lVert \vec{x}^{(i)} - \mu_{c^{(i)}} \right\rVert
]
\end{document}
\, is definitely needed before \frac{1}{m} and probably also in \vec{x}^{\,(i)}; I'm almost certain that \left and \right can (should) be omitted; possibly \bigl\lVert and \bigr\rVert could be used. Finally, \cdots should be \dots.
– egreg
Jun 04 '14 at 07:28
An alternative version, without \substack, but with some additional work:
\documentclass{article}
\usepackage{amsmath}
\begin{document}
\[
\min_{\begin{array}{c}\scriptstyle c^{(1)}, c^{(2)}, \cdots, c^{(m)}; \\[-4pt]
\scriptstyle \mu_1, \mu_2, \cdots, \mu_K
\end{array}
}
\frac{1}{m}
\sum_{i=1}^m \left\lVert \vec{x}^{(i)} - \mu_{c^{(i)}} \right\rVert
\]
\end{document}

I would also recommend replacing \cdots by \ldots or \dots.
\documentclassand the appropriate packages so that those trying to help don't have to recreate it. – Peter Grill Jun 02 '14 at 01:01