KT Wiz manager Lee Kang-chul has signed a three-year extension with the Korea Baseball Organization (KBO) club after leading them to their first-ever postseason.

The Wiz announced Monday that Lee has agreed to a new three-year deal worth 2 billion won ($1.78 million), with 500 million won in annual salary and a signing bonus of 500 million won.

Lee's current deal was to run through 2021, but the Wiz wasted no time in giving him extra years.

The Wiz, who joined the KBO in 2015, are enjoying their most successful season. They booked a postseason spot last week and are currently sitting in third place, half a game back of the LG Twins with four games left to play. The Wiz have already established a franchise record with 79 wins.

Lee, 54, took over the Wiz before the 2019 season, and they finished two games out of the fifth and final playoff spot at 71-71-2 (wins-losses-ties). They set a club record for wins in a season then, and this year's club broke that mark with time to spare.

"We think highly of his leadership and his ability to bring out the best in players," said Wiz president Nam Sang-bong. "He's a proven manager who can elevate us to the next level over the long term."

Lee thanked the front office for its support over the past two seasons and said, "I'd like to shoot for an even higher goal and meet our fans' expectations." (Yonhap)