Cubs among teams to submit bids on Korean left-hander Ryu Hyun-Jin

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UPDATE: Phil Rogers of the Chicago Tribune reports that the Cubs were among the teams who submitted a bid. The Hanwha Eagles have four business days to decide whether they are going to accept the highest bid.

7:42 PM: We learned early last week that the Hanwha Eagles of the Korea Baseball Organization were planning to post left-hander Ryu Hyun-Jin for MLB teams. We may soon find out who had the winning bid.

According to Evan Grant of the Dallas Morning News, bids for Hyun-Jin were due by 5 p.m. ET today. While Grant doesn’t have confirmation, he believes the Rangers may have made a bid.

The Eagles have the right to accept or decline the bid, as Hyun-Jin can’t leave Korea as an outright free agent until 2014. If they accept, Hyun-Jin will have the opportunity to negotiate a contract with the winning team. He has already hired Scott Boras to represent him, which puts an interesting wrinkle in the proceedings. Assuming a contract is eventually worked out, the Eagles will then receive the posting fee.

Hyun-Jin, 25, has been one of the best starters in KBO since winning the Rookie of the Year and MVP in the same season as a teenager. He’s not a hard-thrower, mostly sitting in the high-80s to low-90s (pitch data courtesy of MyKBO.net), but his changeup is considered a quality pitch.