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Orioles finalize three-year deal with Korean P Suk-min Yoon

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27-year-old Suk-min Yoon has spent his entire professional career pitching in Korea.

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.

Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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