Despite rumors speculating a possible year-end awards ceremony, KBS will not be holding an awards ceremony this year. Kwon Jae Yong PD of the KBS's "Gayo Festival," which is set to open on December 30th, revealed through an interview with Star News, "Just like last year, we�will�not be holding a music awards ceremony this year. Currently, we are planning to pick just one song as the 'best popular song.' There's a lot of discussion in the industry wondering about the resurrection of our awards ceremony, but it takes a lot of time in order to collect information and data for a 'fair' ceremony. It's too late this year, so we will be holding discussions about it for next year's gayo festival." KBS held their "Gayo Awards" at the end of every year since 1984, but closed the program in 2005. Since 2006, the company changed the program to "Gayo Festival", and began showcasing performances as opposed to awards. Source + Photos: Star News via Nate