Gangnam Style - Psy Named South Korea's Most Powerful Celebrity

The star has become a worldwide sensation thanks to the success of his 2012 hit, which gave him the chance to teach the likes of Britney Spears the moves to his famous horse-style dance, and meet U.S. President Barack Obama.

Psy also performed at the inauguration ceremony of South Korea's first female president, Park Geun-hye, on Monday (25Feb13).

As a result of all his success, Forbes Korea magazine editors have handed Psy the top spot on the 2013 Power Celebrity 40 list.

Pop group Girls' Generation, who have dominated the countdown for the past two years, are relegated to number two.

Other acts to make the 2013 list include K-pop boyband BIGBANG at five, singer Iu at eight, and Lee Seung Gi at 11.