All-Star pitcher Kim Jae-yoon joins Samsung Lions on four-year, ￦5.8-billion deal

Free agent pitcher Kim Jae-yoon has signed with the Samsung Lions on a four-year deal worth up to 5.8 billion won ($4.5 million).

Kim Jae-yoon, left, poses for a photo with Samsung Lions General Manager Lee Jong-yeol after signing with the club on Wednesday. [SAMSUNG LIONS]

Free agent pitcher Kim Jae-yoon has signed with the Samsung Lions on a four-year deal worth up to 5.8 billion won ($4.5 million).

Kim will earn 2.8 billion won in annual salary with a 2-billion-won signing bonus and up to 1 billion won in incentives, the Lions announced Wednesday.

Kim, formerly of the KT Wiz, is the third free agent to sign since the market opened on Sunday. He was categorized in the B group, the second highest of three free agent brackets defined by the KBO.

An All-Star closer, Kim has played for the Wiz since the club joined the KBO in 2015. He carries a career 3.58 ERA with 44 wins, 33 losses and 169 saves on the line, including two crucial saves during the 2021 Korean Series.

Kim enjoyed a strong 2023 season, riding a 2.60 ERA with 32 saves, five wins and five losses. He was again active in the postseason, appearing in two games and recording two saves against the NC Dinos in the second round of the second round of the playoffs and in three games in this year’s Korean Series — although he walked away with a 15.00 ERA after giving up five runs in three innings.

Kim joins the Lions as the club is said to also still be negotiating a deal with “Stone Buddha” Oh Seung-hwan, the most successful closer in KBO history and the only pitcher to record more saves than Kim over the last four seasons. Oh also earned free agency this year and is yet to sign a new contract.

Kim is the first free agent to change teams this year. Outfielder Ko Jong-wook re-signed with the Kia Tigers on Tuesday and outfielder Jeon Jun-woo re-signed with the Lotte Giants on Monday.

A total of 19 KBO players opted for free agency this year. Only three fall into the KBO’s highest “A” category; Pitcher Ju Kwon of the KT Wiz and pitcher Hong Geun-hui and infielder Yang Suk-hwan of the Doosan Bears.

The three had yet to sign a new deal as of press time.

BY JIM BULLEY [jim.bulley@joongang.co.kr]