Yoon said the rise of BTS and other Korean acts had demonstrated the rise of K-pop was no accident, but a well-calculated business. Three factors were ascribed responsible for the meteoric rise of the genre in recent years: attractive artists, excellent showmanship and brand identity.

“These factors together create an intuitive attraction which appeals to a diverse audience,” he said. “In future we must lower the barriers to K-pop music, making it accessible to audiences around the world regardless of their cultural background.”

The Korean cultural and entertainment industries have been striving to export pop music and other cultural productions from film to drama – collectively known as “Hallyu”, or Korean wave. Studies carried out by the Hyundai Research Institute have suggested a one per cent increase in the export of cultural products would bring about a 0.03 per cent rise in exports of all consumer goods from Korea, providing a major boost to the country’s economy.

The awards ceremony, commonly known as Mama, has been taking place outside of South Korea since 2010, when it was held in Macau. It was moved to Singapore in 2011 and ended up in Hong Kong in 2012 where it has remained since. Recent years have seen international mega stars brought in for the ceremony as a way to introduce Korean acts to a global audience. This time around Quincy Jones, Wiz Khalifa and star producer Timbaland attended the show, with the last of those unveiling a new song put together with American-born Korean musician and television personality Eric Nam, who made his debut at Friday’s show.

But the optimism of this year’s event was dimmed somewhat by a ban reportedly recently imposed on Hallyu content and Korean celebrities in mainland media, said to be revenge against South Korea’s decision to deploy a US missile defence system in the country.

This year also lacked the big acts under YG Entertainment, the agency that represents K-pop heavyweights Psy and boy band Big Bang, which won four major awards last year.

K-pop fan Cherry Ho Ching-yan, 18, said YG’s withdrawal had made the event less attractive.

“It’s because the songs produced by YG, such as those by Big Bang, can really get the audience involved,” Ho said.

Nevertheless, thousands of K-pop fans – mostly teenage girls and those in their 20s – turned up at AsiaWorld-Expo on Friday. Deafening screams were heard throughout the exhibition centre, which is adjacent to the airport. Many had forked out HK$2,188 for a ticket.

Ho and her friend Yau Hoi-sze, 17, could not afford to see the show, but found a spot outside on the red carpet where they caught a glimpse of Kim Tao-yeon of female group Girls’ Generation, and Twice, the membership of which includes Chou Tzu-yu, the Taiwanese singer forced to apologise for waving a Taiwanese flag on a South Korean television show last year.

“It would’ve taken me six months to save enough money to buy a show ticket,” Ho said, adding that she had no choice but to watch the live stream on ViuTV.

The show also saw the return of male group Exo and boy band Seventeen. Six-member girl group GFriend also appeared, as did male ensemble NCT and rapper BewhY.

But it was boy band Got7 that captured the hearts of Hong Kong fans at the event. One of the group’s members, Jackson Wang, is a Hongkonger.

“Although I’m a fan of Big Bang, I’m proud to see a Hong Kong singer in a K-pop group,” one fan, Lam Ka-yan, 23, said. “It’s unfortunate Hong Kong’s entertainment industry has been so derailed that it doesn’t allow real talent to shine any more.”

The list of winners

Album of the year: Exo

Artist of the year: BTS

Song of the year: “Cheer Up” by Twice

Best female artist: Taeyeon

Best male artist: Zico

Best Asian artist (China): Hua Chenyu

Best Asian artist (Indonesia): Isyana Sarasvati

Best Asian artist (Japan): Sekai No Owari

Best Asian artist (Singapore): JJ Lin

Best Asian artist (Thailand): Getsunova

Best Asian artist (Vietnam): Noo Phuoc Thinh

Best rap performance: Cjamm, BewhY for “Puzzle”

Best collaboration: Suzy x Baekhyun for “Dream”

Best music video: “Whistle” by Blackpink

Best band performance: Cnblue

Best female group: Twice

Best male group: Exo

Best vocal performance (group): Davichi

Best dance performance (solo): Taemin for “Press Your Number”

Best vocal performance (female solo): Ailee

Best vocal performance (male solo): Crush

World performer: Seventeen

Best dance performance (female group): Gfriend

Best dance performance (male group): BTS

Best original sound track: “Don’t Worry” by Lee Juck

Worldwide favourite artist: Got7

Best new female artist: IOI

Best new male artist: Nct 127

Best of next award (female): Blackpink

Best of next award (male): Monsta X

Best Asian style award: Exo*

*Winner determined based on receiving most tweets