Big dominoes fall early in KBO free agency

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Big dominoes fall early in KBO free agency

Published: 12 Nov. 2024, 12:44 Updated: 12 Nov. 2024, 17:59

SSG Landers third baseman Choi Jeong poses in front of the team's logo at Incheon SSG Landers Field in Incheon after signing a free agent contract with the club on Nov. 6. [YONHAP]

Less than a week into free agency in Korean baseball, some big dominoes fell early, with one veteran third baseman staying put and another switching clubs for the first time in his career. And a team desperate for postseason success made what their fans are hoping will end up being crucial acquisitions.

The free agency in the KBO opened last Wednesday with 20 players up for grabs, and reliever Woo Kyu-min became the first player to be taken off the list by returning to the KT Wiz on a two-year deal.

But the biggest signing of the first day belonged to Choi Jeong, the league's career home run leader.

Choi signed a four-year deal worth 11 billion won ($7.9 million) with the SSG Landers, likely ensuring that the 37-year-old will finish his career with the only franchise he has known for the past two decades.

Choi made his KBO debut with the franchise in 2005 when they were called the SK Wyverns under different ownership. He has since become one of the most accomplished sluggers in league history.

He became the KBO's all-time home run king in April with his 468th homer and finished the 2024 season with 495. He is also the career leader with 1,461 runs scored.

Another third baseman on the market, Heo Kyoung-min, left the Doosan Bears after 13 seasons with the Seoul-based franchise to sign a four-year deal with the Wiz on Friday worth up to 4 billion won.

KT Wiz third baseman Heo Kyoung-min poses for a photo at KT Wiz Park in Suwon, Gyeonggi after signing a free agent contract with the team on Nov. 8. [KT WIZ]

Before the 2021 season, Heo had signed a four-year deal with the Bears that included an option for three more years worth 2 billion won in total. Heo declined that option and ended up getting more money over a longer term from the Wiz at age 34.

The Wiz signed Heo after losing two free agents to the Hanwha Eagles, shortstop Sim Woo-jun and starter Um Sang-back.

Hanwha Eagles pitcher Um Sang-back, right, shakes hands with his general manager, Son Hyuk, after signing a free agent contract with the club on Nov. 8. [YONHAP]

Sim inked his four-year, 5 billion won contract on Thursday. The 29-year-old is a strong defender at shortstop and a base-stealing threat.

Um signed for four years at up to 7.8 billion won on Friday, giving the Eagles a dependable starter with strikeout ability.

The Eagles have been to only one postseason since 2007 and their famously loyal fan base is clamoring for some meaningful baseball in October as the Eagles are scheduled to move into a brand new stadium in 2025.

On Sunday, the Lotte Giants locked down both of their own free agents, signing closer Kim Won-jung to a four-year deal and setup man Koo Seung-min to a two-year deal with an option for two more seasons.

Kim, 31, has recorded 132 saves since becoming the Giants' closer in 2020 — the second-highest total in the league in that span. He is already the franchise leader in saves.

Koo, 34, owns the franchise mark with 121 career holds. He had a down year in 2024, with a 4.84 ERA being his worst mark since 2019, and he even spent time in the minor league in May. Koo pitched better in the second half, posting a 3.23 ERA with 35 strikeouts in his final 30 2/3 innings.

Another reliever on the open market, right-hander Jang Hyun-sik, signed a four-year, 5.2 billion-won contract with the LG Twins on Monday, leaving the 2024 Korean Series champions Kia Tigers to join the 2023 winners.

New LG Twins reliever Jang Hyun-sik, left, shakes hands with the club's CEO, Kim In-seog, in front of the team's logo at Jamsil Baseball Stadium in southern Seoul after signing a free agent contract with the Twins on Monday. [YONHAP]

Jang, 29, made his KBO debut with the NC Dinos in 2013 and was traded to the Tigers in 2020. He has been one of the league's most reliable setup men since then, with his 80 holds from 2020 to 2024 putting him in third place overall.

He had 75 strikeouts in 75 1/3 innings this season with a 3.94 ERA. He threw five scoreless innings in relief while appearing in all five games of the Korean Series.

The Twins are hoping Jang will bolster a bullpen that posted a mediocre 5.21 ERA in 2024, well off their league-leading mark of 3.43 ERA in their title-winning 2023 season.

KBO free agents are split into three classes based on their salaries over the past three seasons, and different compensation rules apply to each class.

Players ranked in the top three in salary on their team and top 30 in the league are in Class A. If a team signs a free agent from that class,
the team must pay his previous club twice the amount of that player's previous salary and send a player not on its protected list, or pay the team three times the amount of the player's previous salary.

Players whose salary placed them between fourth and 10th on their clubs, and 31st and 60th in the league end up in Class B. The compensation rules for acquiring these free agents are as follows: the same amount of the player's previous salary and a compensatory player, or double the amount of that salary without a compensatory player.

Class C features players whose salary put them below 11th on their teams and 61st in the league. Players who become free agents for the first time at age 35 or older automatically end up in this group. Teams signing a Class C free agent only have to pay up to 1.5 times the amount of the player's previous salary, with no need to send any player the other way.

Because there are fewer than 21 free agents, clubs can each sign a maximum two free agents from outside. The Eagles have reached that maximum.

Yonhap