It was created to honor the top K-pop artists of the year across various music categories as part of a two-day integrated event collectively referred to as the APAN MusicStar Awards.

[1][2] Originally set to take place on November 28, 2020, at the Grand Peace Hall in Kyung Hee University and be broadcast exclusively on online platforms Olleh TV and Seezn,[3] the inaugural ceremony was indefinitely postponed on November 18, 2020, after the Level 1.5 social distancing rules went into effect amid a resurgence of the COVID-19 pandemic in Seoul and surrounding metropolitan areas.

Voting began on October 27 via the Idol Champ mobile app and continued until November 27.

[8] Nominees for the Bonsang (Main Prize) category were announced on November 6, 2020, while the selection of its winners were based on the combination of album sales, digital sales, evaluations from a judges panel, and fan votes.

[9] The APAN Top 10 (Bonsang), Best Icon, Best Performance, Best Music Video, and Best All-rounder winners were announced on November 26,[10] while the rest of the winners were announced on November 30 and January 15, 2021.