The 2006 Mnet KM Music Festival (MFMK) was the eighth of the annual music awards in Seoul, South Korea that took place on November 25, 2006, at the Olympic Gymnastics Arena. Leading the nominees were Wax boy bands TVXQ and SG Wannabe, and solo artist Rain with five nominations each. The boy bands secured two wins each by the end of the ceremony, while the latter received only one award out of 5 nominations.