South Korean infielder has agreed to a four-year, $15 million contract with the San Diego Padres, finalized Sunday.
The deal includes a $1 million signing bonus, paid in two equal installments—one in 30 days and another on Jan. 15, 2027. Song will earn salaries of $2.5 million next season, $3 million in 2027, and $3.5 million in 2028.
The contract features a $4 million player option for 2029 and a $7 million mutual option for 2030, which includes a $1 million buyout.
Performance bonuses are built in as well. If Song wins Rookie of the Year, his salary the following season will increase by $1 million. A top-five finish in MVP voting would trigger a $1 million raise in each remaining year of the deal.
Song will become a free agent once the contract expires. The Padres will also cover the cost of an interpreter and round-trip airfare to and from South Korea.
This season, Song batted .315 with a career-best 26 home runs and 90 RBIs for the Kiwoom Heroes. The 29-year-old left-handed hitter primarily plays third base and owns a .284 career average with 80 home runs and 454 RBIs across nine seasons with Nexen and Kiwoom.
As part of MLB’s posting agreement with the KBO, San Diego will pay Kiwoom a $3 million posting fee, along with an additional 15% of any escalator bonuses Song earns.