Korean reliever Chang-Yong Lim set to sign with Cubs

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South Korean reliever Chang-Yong Lim, who’s spent the past five seasons pitching in Japan, revealed that he’s signing a two-year contract with the Cubs.

According to the 36-year-old right-hander the deal could be worth up to $5 million, but Patrick Mooney of CSNChicago.com has a few more details and says it’s basically a minor-league contract with little guaranteed money and a bunch of potential incentives.

And that makes sense, because Lim is recovering from Tommy John elbow surgery in July and the sidearmer is no sure thing to pitch at all in 2013. Lim told Yonhap News in Korea that the Red Sox and Rangers also made him offers.

When healthy Lim had a 2.09 ERA with 231 strikeouts in 233 innings during his Japanese career.