The Baeksang Arts Awards is regarded as the Academy Awards or the "Oscars" of South Korea. This is regarded in South Korea as the top award a Korean actor in film, theater, or television can win. In addition, it honors the best Korean movies and dramas of the year. It was first launched in 1965 by the founder of Hankook Ilbo newspaper. Its aim is to honor outstanding achievements in the South Korean entertainment industry. It is held every year (springtime) by the IS PLUS Corp. However, in 2020, the 56th Baeksang Arts Awards was held in June due to the coronavirus pandemic. For the first time ever, the awards took place without a live audience. The 57th Baeksang Arts Awards ceremony will take place on May 13th and will be held without an audience due to COVID-19.