Tseng, 18, is a known commodity in the international baseball world and was being pursued by several teams, including the Twins. The teenager is known for his upright, quick delivery and a fastball that can reach 95 mph. Poised and aggressive, Tseng also throws a curveball and slider.
He also has a history on the big stage.
A member of the 2012 World Junior Championship team, Tseng also played in the 2012 Asian Baseball Championship for Chinese Taipei. He was the youngest player named to the Chinese Taipei World Baseball Classic roster earlier this year.
Prior to Tseng's signing, the Cubs had committed $3,470,000 of their $5,520,300 bonus pool to four players: shortstop Gleyber Torres, the top player from Venezuela and third-ranked international prospect, for $1.7 million; and Colombia right-handed pitcher Erling Moreno, ranked No. 17, for $650,000. The club also signed right-handed pitcher Jefferson Mejia for $850,000 and added catching prospect Johan Matos for $270,000.
The Cubs have a $2.8 million agreement in place with outfield prospect Eloy Jimenez, ranked No. 1, which puts them $749,700 -- or 13.6 percent -- over their pool and into the penalty phase. Teams that exceed the pools by 10 to 15 percent are not allowed to sign a player for more than $500,000 during the 2014-15 signing period and have to pay a 100-percent tax on the pool overage.
In the most severe penalty, teams that exceed the pool by 15 percent or more are not allowed to sign a player for more than $250,000 during the next signing period in addition to paying a 100-percent tax on the pool overage.
The Cubs can still acquire $1,315,600 in slot money because the Collective Bargaining Agreement allows teams to add up to 50 percent of the initial bonus pool, which in Chicago's case was $4,557,200, but that wouldn't be enough money to keep the Cubs out of the most severe penalty.
Earlier this month, the Cubs acquired four signing-bonus slots -- two from the Orioles and two from the Astros -- in trades worth $963,000 on the first day of the international signing period.