SARASOTA, Fla. -- South Korean right-hander Suk-min Yoon and the Baltimore Orioles have finalized to a three-year contract for $5,575,000, a deal that could escalate to $13,075,000 if the pitcher starts 26 or more games each season.
The 27-year-old was 73-59 with a 3.19 ERA in nine seasons with the KIA Tigers in the Korean Baseball Organization.
Yoon is expected to compete for a spot in Baltimore's starting rotation.
Yoon gets a $675,000 signing bonus under the agreement announced Monday, payable within 30 days of the deal's approval by Major League Baseball. He receives salaries of $750,000 this year, $1.75 million in 2015 and $2.4 million in 2016.
He can earn $1.25 million annually in performance bonuses: $100,000 each for six, eight, 10, 12, 15 and 18 starts; $150,000 for 20; and $250,000 apiece for 24 and 26. Any performance bonuses earned are added to the base salaries for the remaining years of the contract.
To make room on the 40-man roster, the Orioles waived outfielder Jimmy Paredes, who was claimed by Kansas City. Baltimore had claimed Paredes on Saturday.