Richest free agent market in Korean baseball history opens

The largest free agent market in Korean pro baseball has opened this year. The Korea Baseball Organization announced Wednesday 17 players who filed for free agency, up from the record of 14 set in 2005.

Among the more notable free agents are slugger Lee Dae-ho of the Busan Lotte Giants, Chung Dae-hyun of the Incheon SK Wyverns, and Lee Taek-geun of the Seoul LG Twins.

○ 1 billion won contract?

Lotte slugger Lee is the center of attention in the free agent market. His team is willing to keep him by paying the highest annual salary in league history.

Shim Jung-soo, who moved from the Hyundai Unicorns (now the Nexen Heroes) to the Samsung Lions in 2004, signed a four-year deal worth 6 billion won (5.37 million U.S. dollars), the largest in Korean league history. If the Giants want to keep Lee Dae-ho as they claim, they will break Shim`s mark.

Lotte, however, must compete against Japan’s Orix Buffaloes, who have offered the slugger a two-year contract worth 500 million yen (6.45 million dollars). A team from Nippon Professional Baseball asked the Korean league Wednesday to give Lee Dae-ho a tryout. Though the club was not named, most believe it is Orix.

Other big free agents are two players who have recently returned home from Japan. Lee Seung-yeop, who played for Orix last season, and Kim Tae-kyun, who played for the Chiba Lotte Marines, could have a major impact on the free agent market as well.

The Daejeon Hanwha Eagles, where Kim had played, has promised him the highest pay. Lee Seung-yeop`s old Korean team Samsung must also think about how much it will pay him, who intends to go back to the club.

The competition to sign the three sluggers could produce a player earning 1 billion won (895,255 U.S. dollars) for the first time in Korean baseball history.

○ Competition in the middle

Despite being overshadowed by Lee Dae-ho, many good players have applied for free agency.

Relief pitchers Chung Dae-hyun and Lee Seung-ho of SK, Chung Jae-hoon of the Seoul Doosan Bears, and Song Shin-young and Lee Sang-yeol of LG are favorites to be signed by any club. Given the key role of the bullpen in the Lions` and Wyverns` advances to this year`s Korean Series, other teams are keen to upgrade their closers.

American and Japanese teams are also reportedly interested in Chung Dae-hyun.

Lee Taek-geun, who can play both infielder and outfielder, deserves attention given his age (31) and competence. Most players say they want to stay with their teams if the conditions are the same, meaning that they could move to other teams offering more money at any time.

○ Why so many free agents?

The minimum period for free agency was reduced from nine years to eight years this year. Lee Taek-geun and Chung Jae-hoon are the beneficiaries of the new system.

Compensation has also been eased much more than before. In the past, up to 450 percent of a player’s pay had to be sent to his former club but this has fallen to 300 percent. Instead, the number of protected players has been raised from 18 to 20.

The “second draft” slated for Nov. 22 is another variable. The biennial event prevents a club from owning too many prospects in the second division. The target of the program is players not included in the 40-man rosters submitted by teams in advance.

Players who applied for free agency are excluded from the 40-man roster. Teams are likely to encourage players who are certain to stay with them to apply for free agency to protect 40 players.

Those who have applied for free agency can sign with their club over 10 days from Thursday through Nov. 19. If they do not, they are free to sign with other clubs for 20 days from Nov. 20 through Dec. 9.

If they still have no teams, they can negotiate with the remaining clubs between Dec. 10 and Jan. 15 next year.

uni@donga.com