SAN DIEGO -- Shortstop Ha-Seong Kim is slated to become a free agent after he declined his portion of an $8 million mutual option with the Padres, the team said on Saturday.

Kim, who spent the past four seasons with San Diego, will be owed a $2 million buyout.

Meanwhile, lefty reliever Wandy Peralta exercised his player option worth $4.25 million and will remain with the club.

Neither of those moves comes as much of a surprise. Kim is coming off surgery to repair a labrum tear in his right shoulder and could miss time into the 2025 season. But he's a 29-year-old shortstop with a decent bat and an elite glove. Kim is likely to command a multiyear deal on the free-agent market.

The Padres' future at shortstop remains somewhat uncertain with Kim's departure. After Kim sustained his injury in August, the team moved Xander Bogaerts back from second base to shortstop. It's possible the Padres would stick with that plan in 2025, with Jake Cronenworth manning second base.

Still, at his end-of-season press conference, general manager A.J. Preller did not rule out the possibility of bringing Kim back.

"He's a really talented and valuable player," Preller said. "From our standpoint, we'd love to bring him back. We've just got to get into [the offseason], see where that leaves us."

In four seasons with the Padres, Kim became a fan favorite in San Diego thanks to his production and his all-out playing style. Kim batted .242/.326/.380 with San Diego, including an excellent 2023 season that saw him win the utility NL Gold Glove Award and receive down-ballot MVP votes.

"Obviously, San Diego's a huge part of me," Kim said late in the 2024 season, through interpreter David Lee. "Along the four years, we fought to get the World Series trophy every year, made great memories. The team almost feels like family to me now."

Meanwhile, Peralta posted a 3.99 ERA in 46 appearances this season. The 33-year-old returns to what figures to be a loaded San Diego bullpen, though with Tanner Scott's departure through free agency, that bullpen is somewhat light on left-handed options.