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After MLB talks fall through, pitcher Kim Kwang-hyun gets hefty raise from S. Korean club

All Headlines 11:58 December 14, 2014

By Yoo Jee-ho

SEOUL, Dec. 14 (Yonhap) -- South Korean pitcher Kim Kwang-hyun, whose recent contract talks with a Major League Baseball (MLB) club fell through, received a hefty raise from his current domestic club on Sunday.

The SK Wyverns in the Korea Baseball Organization (KBO) announced that they've re-signed their left-hander for 600 million won (US$543,000), up from 270 million won he earned in 2014.

In the KBO, players must sign annual contracts after each season until hitting free agency. Players who joined the KBO out of four-year colleges must play eight full seasons to become free agents; the term is nine seasons for high school graduates.

The Wyverns posted Kim last month and the San Diego Padres won the exclusive negotiating rights with Kim with a bid of $2 million. The two sides had 30 days to work out a deal but failed to come to an agreement by the deadline that fell at 2 p.m. last Thursday in San Diego.

An informed source told Yonhap News Agency last week that Kim turned down a two-year offer worth $2 million in guaranteed money. Kim can't be posted again until Nov. 1, 2015.

Though he will earn less than what he would have made with the Padres, Kim still became the highest-paid pitcher in the Wyvners' history.

In 2014, Kim, 26, went 13-9 with a 3.42 ERA, the second-best mark in the KBO. He'd been hampered by injuries over the three previous season.


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