South Korea's lantern lighting festival has been inscribed on the UNESCO list of intangible cultural heritage of humanity.

The Intergovernmental Committee for the Safeguarding of the Intangible Cultural Heritage made the decision on Wednesday during its 15th session, taking place online.

The Lotus Lantern Festival, also known as "Yeondeunghoe" in Korean, is a Buddhist event held every spring during the period before and after April 8 of the lunar calendar which marks the birth of Buddha. 

In a statement, the UNESCO committee said it took note of the inclusiveness and cultural diversity of Yeondeunghoe, which transcends nationality, race and religion. 

The committee also noted that the lantern lighting festival plays a role in breaking up social boundaries briefly and thus helping people share happiness and overcome crisis.

With the inclusion of the festival, South Korea now has 21 cultural assets inscribed as UNESCO intangible cultural heritage. Other assets recognized by UNESCO on the list include the Korean folk music genre pansori, traditional wrestling ssireum and the folk song Arirang.