After the Frenzy, a Chilly Silence: Will FA Players Cho Sang-woo, Kim Beom-su, and Kang Min-ho Sign Before Year’s End?

[Financial News] The once-heated stove league has entered a lull. After a flurry of high-profile player movements and a money-driven free agent market at the start, things cooled rapidly by mid-December. As clubs quickly closed their wallets, the remaining unsigned players now face even more complicated negotiations.
According to baseball insiders on the 17th, of the 21 players who exercised free agent rights after the 2025 season, only 12 have signed contracts so far. The futures of the market’s 'big three'—Chan Ho Park (Doosan Bears), Kang Baek-ho (Hanwha Eagles), and Park Hae-min (LG)—were decided quickly, and veterans Hyun-soo Kim (KT Wiz) and Choi Hyoung-woo (Samsung Lions) also inked their deals. Notably, since Yang Hyeon-jong confirmed his stay with the Kia Tigers (2+1 years, 4.5 billion KRW) on the 4th, there has been no further contract news for over ten days.
Currently, nine players remain unsigned in the market. Among them, the key free agents drawing the most attention are Cho Sang-woo (Kia Tigers, Grade A), Kim Beom-su (Hanwha Eagles, Grade B), and Kang Min-ho (Samsung Lions, Grade C).

The pitcher attracting the most attention is undoubtedly Cho Sang-woo. Once known for his top-tier fastball, clocking over 155 km/h, he has struggled this season with less impressive velocity and results, leading to diminished market interest.
His Grade A status has become a stumbling block in negotiations. Any team signing Cho Sang-woo must compensate his former club with either 200% of his previous salary plus one unprotected player, or 300% of his salary. While he would be an attractive option for teams needing a reliable closer, few are willing to pay such a high price.
The Kia Tigers have maintained that 'Cho Sang-woo is necessary' and stated that they have made an offer, but reports suggest that the terms fall short of the player’s expectations.
Attention is also on left-handed fireballer Kim Beom-su, who is considered the most likely among the remaining players to change teams. As a Grade B free agent, the compensation hurdle is lower, and his status as a left-handed pitcher is a plus. He performed well this season, but while his rare left-handed velocity is an asset, inconsistency remains a concern.
Grade B free agents require the signing team to provide one unprotected player outside the top 25 protected. While teams in need of bullpen help are crunching the numbers, a drawn-out tug-of-war with the Hanwha Eagles is possible. Especially since Hanwha is also working on a long-term deal with Noh Si-hwan.

Among position players, the timing of Kang Min-ho’s contract is drawing attention. Given the unique demands of the catcher position and his continued performance, he is widely expected to remain with Samsung. As a Grade C free agent, there is no compensation required. However, the details of the contract remain to be finalized. Samsung recognizes Kang Min-ho’s importance for a championship run, and both sides reportedly share a mutual understanding about his retention. Jong-yeol Lee, Samsung’s general manager, has stated that negotiations with Kang Min-ho will be completed calmly.
The market has clearly shifted in favor of the clubs. Doosan Bears (18.6 billion KRW), KT Wiz (10.8 billion KRW), and Hanwha Eagles (100 billion KRW for Kang Baek-ho) have already finished their major signings. With club front offices wrapping up business at the end of December, there is little time left for negotiations.
If the gap between players seeking favorable terms and clubs insisting on a cold market assessment cannot be bridged, the remaining deals may drag on into January, right up until spring training. The clubs clearly hold the upper hand. Dreams of a blockbuster deal are fading, and the nine remaining free agents face a cold winter of tough, pragmatic choices.


jsi@fnnews.com Jeon Sang-il Reporter