The 2025 KBO season is over, but its free agency period is just starting, with changes in salary cap rules and reduced penalties for overspending.
The free agency period begins on Wednesday, when the KBO announces its list of free agents. If players apply to be recognized as free agents, the KBO will officially announce the approved free agents on Saturday.
Blockbuster free agent deals have dwindled in the KBO since multiyear contracts were introduced in 2021. But this winter may mark a shift in tone.
The KBO will slightly raise the salary cap next season and significantly reduce the penalties for teams that exceed it.
The salary cap will increase from 13.71 billion won ($9.5 million) this year to 14.39 billion won in 2026. Each team may also designate one franchise player whose salary counts only 50 percent toward the cap. While the benefit will vary by club, most could save billions of won under the new rule.
The penalty for exceeding the cap will also shrink. Until now, teams whose top 40 player salaries surpassed the ceiling had to pay 50 percent of the excess as a surcharge, which was collected as part of the league's baseball development fund.
Starting next year, the surcharge will drop to 30 percent. The KBO said the decision aims to prevent a pullback in team investment.
The changes come on the heels of a record-setting season that drew more than 12 million fans to stadiums. As team finances improve, market interest is focusing on shortstop Park Chan-ho of the Kia Tigers and slugger Kang Baek-ho of the KT Wiz.
Park, 30, has anchored the Tigers' infield since 2019 and is regarded as a balanced all-around player. He consistently hits around .300, maintains an on-base percentage near .350 and has recorded more than 20 stolen bases in each of the past four seasons.
Reports suggest that several clubs who are aiming to reinforce their infield are targeting Park, with the Lotte Giants and the Wiz considered to be top contenders. The Wiz, whose infield core is now in its mid to late 30s, are seeking to rebuild their center line, so adding Park could help them push for a return to postseason play. The Giants are in the mix as well: While they acquired NC Dinos shortstop No Jin-hyuk in 2023, his prolonged hitting slump has reportedly removed him from the team's plans for next year.
Kang, 26, made an immediate impact when he debuted in 2018. But his defense remains a weakness. He has appeared at first base, right field and catcher, but is functionally limited to designated hitter duties -- a liability that may complicate his free agent value.
A second tier of free agents is also awaiting market evaluation.
Veteran players include Samsung Lions catcher Kang Min-ho, 40, Hanwha Eagles outfielder Son Ah-seop, 37, Doosan Bears outfielder Kim Jae-hwan, 37 and Wiz infielder Hwang Jae-gyun, 38.
Younger players such as NC Dinos outfielder Choi Won-jun, 28, Doosan Bears pitcher Lee Young-ha, 28 and Eagles pitcher Kim Bum-soo, 30, are also on the market.
This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY KO BONG-JUN [[email protected]]