The health ministry said Tuesday it will freeze state health insurance premiums for next year for the first time in seven years.

The decision was made as the financial status of the insurance program is “relatively stable” and the government seeks to ease the people’s economic burdens amid high inflation and interest rates, according to the Ministry of Health and Welfare.

The country has frozen the premium three times so far, including the decision made for 2017 and 2009.

By law, South Koreans are required to join the insurance scheme, and foreigners living in South Korea can also subscribe to it.

Source: Yonhap News Agency