[Sports Seoul | Reporter Jung Da-wo] Heo Su-bong of Hyundai Capital looks set to become the highest-paid player in V-League history.
The Korea Volleyball Federation (KOVO) announced on the 26th that Hyundai Capital has signed Heo to a three-year free-agent contract worth a ₩800 million annual salary (about $600,000) plus a ₩500 million option (about $375,000) — ₩1.3 billion in total (about $975,000). That eclipses last year’s record by KB Insurance setter Hwang Tae-kui, which totaled ₩1.2 billion (₩900 million salary (about $675,000) + ₩300 million option (about $225,000)), roughly $900,000.
Heo is widely regarded as the V-League’s top wing spiker. While he can also play opposite, he has primarily served as an outside hitter since Philippe Blain took over as head coach. At 196 cm (about 6 ft 5 in), he’s praised for his fundamentals and volleyball instincts and is considered one of the league’s most complete players.
Multiple V-League clubs showed interest once Heo became a free agent, but he ultimately chose to stay with Hyundai Capital.
Heo’s ₩1.3 billion contract (about $975,000) is likely to stand as the league’s single-player salary record for the foreseeable future. KOVO is expected to introduce an individual pay cap for the men’s division as early as next season; discussions scheduled for this year were postponed for one year. If adopted, the cap would likely mirror the women’s rule and equal 20% of a team’s total salary cap. The current men’s salary cap is ₩5.21 billion (about $3,907,500), which would limit any single player to ₩1.042 billion (about $781,500). Because the team cap is set to decrease by ₩200 million each year (about $150,000) for five years, Heo’s new benchmark appears secure. Existing contracts remain valid, however, so Heo is guaranteed ₩1.3 billion annually (about $975,000) for the next three seasons.
Hyundai Capital also re-signed starting setter Hwang Seung-bin to a deal worth ₩400 million in salary (about $300,000) plus a ₩200 million option (about $150,000), totaling ₩600 million (about $450,000).
Champion team Korean Air re-signed veteran Yoo Gwang-woo for a ₩170 million salary (about $127,500) plus a ₩80 million option (about $60,000), totaling ₩250 million (about $187,500). Jo Jae-young signed for a total of ₩270 million (about $202,500).
Woori Card retained all of its in-house free agents, including Park Jin-woo, Oh Jae-sung, Lee Sang-hyun and Kim Young-joon, while Samsung Fire & Marine Insurance re-signed Kim Woo-jin and Lee Sang-wook. weo@sportsseoul.com
