The Music Bank Chart is a record chart established in 1998 on the South Korean KBS television music program Music Bank. Every week during its live broadcast, the show gives an award for the best-performing single on the South Korean chart. Since the episode on January 6, 2024, the chart utilizes digital performances on domestic online music services (60%), number of times the single was broadcast on KBS TV, radio and digital channels (20%), global pre-vote derived from the Mubeat app (10%), album sales (5%), and a social media score calculated using YouTube and TikTok data gathered from the Circle chart (5%) in its ranking methodology. The score for domestic online music services is calculated using data from Melon, Bugs, Genie Music, Naver Vibe and Flo.

Actor Lee Chae-min and Ive member Jang Won-young had been hosting the show together since September 30, 2022. Nmixx member Haewon appeared as a guest host on the first broadcast of the year in lieu of Won-young. Won-young went on to leave the show on January 13, 2023, after hosting the show for 1 year and 4 months. For the next three weeks NewJeans member Minji and Oh My Girl member Mimi appeared as guest hosts alongside Chae-min. Le Sserafim's Hong Eun-chae was announced as the new co-host of the show on February 10, 2023. Since then, Dahyun, NewJeans' Hanni, Arin, Kim Se-jeong, TXT's Choi Soo-bin, and Umji have appeared as guest hosts in lieu of Eun-chae.

In 2023, 42 singles achieved number one on the chart, and 30 acts were awarded first-place trophies. "God of Music" by Seventeen had the highest score of the year, with 16,281 points on the November 3 broadcast. Ateez's "Crazy Form" won three trophies, making it the most awarded song of the year. Ateez had three number one singles on the chart in 2023 achieved with "Halazia", "Bouncy (K-Hot Chilli Peppers)", and "Crazy Form". The three songs spent a total of six weeks atop the chart, making Ateez the act with the most wins of the year. Boy group The Boyz also had three number-one singles on the chart achieved with "Roar", "Lip Gloss", and "Watch It". In addition to Ateez and The Boyz, eight other acts had more than one single ranked number one on the chart in 2023. Girl groups NewJeans and STAYC had two number one singles on the chart achieved with "Ditto" and OMG", and "Teddy Bear" and "Bubble", respectively. Six boy groups ranked two singles at number one on the chart in 2023: TXT with "Sugar Rush Ride" and "Chasing That Feeling", NCT 127 with "Ay-yo" and "Fact Check", Seventeen with "Super" and "God of Music", Enhypen with "Bite Me" and "Sweet Venom", Stray Kids with "S-Class" and "Lalalala", and Exo with "Cream Soda" and "The First Snow".

Ten acts achieved their first number one on Music Bank in 2023. "Rover", "Killin' Me Good", and "Perfume" helped solo artists Kai and Jihyo and boy group NCT DoJaeJung gain their first ever music show awards on the March 24, August 25 and September 29 broadcasts, respectively. BSS and Tempest achieved their first number ones on the chart with "Fighting" and "Vroom Vroom", respectively. BTS members Jimin, V, and Jungkook gained their first solo number ones on the chart with "Like Crazy", "Slow Dancing", and "Seven", respectively. The former two went on to rank number one for two weeks on the chart. Blackpink's Jisoo achieved her first number one on Music Bank on the April 14 broadcast with "Flower".

Chart history