The third season of Mnet's Superstar K is starting later this month, and aspiring talents around the nation are patiently waiting for their chance to become a star. However, contestants will be more pumped up than ever this season, as the show has decided to raise their winning prize from 200,000,000? (approx. $200,000 USD) to a whopping 500,000,000? (approx. $500,000 USD). On March 3rd, a launching conference for the show was held that answered many questions from the public. At the conference, the producer of the show revealed, "In consideration for contestants who can not achieve their dreams due to poor living conditions, we have decided to raise the total winning prize to 500,000,000?. The basic winnings will be 300,000,000? and an additional 200,000,000? will be awarded for music production. The runner-up will also be rewarded additional prizes." The producer emphasized on this topic as he promised to the public that the full amount of winnings will be awarded, which will be enough for future album promotions as well. Many have also been curious about the winning prize for the runner-up, however a representative of Mnet revealed, "It is difficult to reveal what the secondary prize will be as we did not decide on a sponsor for it as of yet. However, we will reveal that it will be something of grand value." He also revealed that the winner will perform at this year's MAMA (Mnet Asian Music Awards), and that he/she will be paired up with the nation's best music producer and music video director that will be a strong base for a successful debut. The first round of auditions will start on March 10th. Source + Photo: Newsen