2.94 billion in winning dividends

The LG Twins are celebrating after winning their first Korean Series (KS-7 best-of-four) title in 29 years, since 1994.

LG defeated the KT Wiz 6-2 in Game 5 of the 2023 Shinhan Bank Throwdown KBO KS at Jamsil Stadium on April 13.

With the victory, LG won the KS title with a 4-1 series lead. LG, which also finished the regular season in first place, enjoyed the thrill of winning the title for the first time in 29 years since 1994.

After the victory, LG is sitting on a fortune.

According to Article 47, "Distribution of Revenue," of the KBO's league regulations, the Korean Baseball Organization (KBO) takes the revenue from postseason (PS) gate receipts, excludes all expenses incurred for events and games, and distributes the remaining amount to the five teams that advanced to the PS.

The first-place team in the regular season receives 20%, and the winner of the Korean Series receives 50% of the remaining amount. The runner-up team will receive 24%, the losing team in the playoffs will receive 14%, the losing team in the semi-playoffs will receive 9%, and the losing team in the wild card game will receive 3%.

The KBO estimates that the gate receipts for 14 PS games this year will be around 9.63 billion won.

Usually, about 49% goes to various expenses, and the remaining amount is divided among the five teams.

LG, which finished first in the regular season, gets 20 percent of the 4.91 billion won, or about 982 million won.

KS gets an additional 1.964 billion won, which is 50% of the remaining 3.928 billion won.

This is in addition to the parent company bonus.

Although unspecified, the 10 KBO clubs have agreed that the parent company can give a bonus of up to 50% of the dividend if KS wins the title.

If LG Group pays a bonus of 50 percent of its dividend of about 2.946 billion won, the championship bonus would increase to 4.419 billion won.

There are disciplinary consequences for exceeding the limit. Article 82 of the Baseball Code states that "all economic benefits such as money, goods, etc. provided by the club to the player in addition to the annual salary are considered contract money.

Paying a bonus that exceeds the cap can be considered a violation of Article 82. If a club is found to be in violation, it will be stripped of the right to draft a player in the second round of the next rookie draft and fined 1 billion won.

A Rolex watch that the late former LG Group Chairman Koo Bon-moo bought for 80 million won during a business trip abroad in 1997 and was supposed to be given as a prize to the series' Most Valuable Player (MVP) if LG stood atop the KS once again has also found its owner. That would be captain Oh Ji-hwan.

The watch is an exception to the championship bonus because it's a long-known gift from LG, and it's hard to translate into money.

However, Oh said, "I would accept it because it was given to the MVP, but it's a bit burdensome to wear. It's like a relic of Chairman Koo Bon-moo, so I want to give it to current Chairman Koo Kwang-mo and get a better gift." "I want the Rolex watch to be displayed for everyone to see. I would like to receive a watch that is more in line with the current era."

Before the KS, LG coach Yeom Kyung-yup announced, "I will select one of the players who was not selected as the MVP of the series and give him 10 million won out of my own pocket."

After securing the KS championship, he said he would distribute 5 million won each to catcher Park Dong-won and pitcher Yoo Young-chan.

This is a situation that needs to be reviewed. A KBO official said, "If the manager pays with his own money, it's hard to raise a problem. However, it could be a problem if the club pays the manager as a reward," he said, adding, "It could be abused by digging into loopholes in the rules. It needs to be reviewed."

Meanwhile, LG will hold a celebration of its unified championship later this week. The event is expected to feature Awamori shochu from Okinawa, Japan, which former chairman Koo Bon-moo was said to have prepared to drink after the victory. A Rolex watch will also be presented to Oh Ji-hwan.


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