Referred to as the grand prize of the awards, the Bonsang Award is given to select artists based on their album and digital sales.
The K-pop group, who performed a medley of their hits "Medley" and "Psycho," received the award during the show on January 30. Noticeably absent was one of their members Wendy, who suffered an accident while rehearsing for Gayo Daejun, an annual music festival of South Korean television and radio network company Seoul Broadcasting System (SBS).
On January 6, Red Velvet announced that Wendy would not be joining the rest of the group for their Japan tour so she can recover from her injuries.
"Irene" was a top trending topic on Twitter as fans admired Red Velvet member Irene's performance and her acceptance speech for the group.
According to some fans, Irene had a bittersweet speech about how their group, including Wendy, were looking forward to meeting their fans.
"Wendy is not with us here in this moment. Although it hurts, but we and Wendy, we have been waiting to meet our fans who love us, [our] luvvies."