[Update: Event is over.]

The '2013 MelOn Music Awards' is now live from the Olympic Gymnastic Arena in Seoul!

SEE ALSO: '2013 MelOn Music Awards' reveal their Top 10 K-Pop artists of the year

The winners of the annual 'MelOn Music Awards', one of four major yearly music award shows, are chosen only by calculating digital sales and online votes. EXO, Davichi, Dynamic Duo, Busker Busker, B2ST, SHINee, SISTAR, IU, Ailee, and G-Dragon were chosen as the 'Top 10 Artists of 2013' in the first round of votes, and Best Artist, Best Album, and Best Song will be announced during the ceremony.

Catch the red carpet opening ceremony now (4AM EST) and the awards ceremony at 7PM KST (5AM EST).