According to the Korea Times, the Mets have reportedly signed Chan Ho Park to a one-year, 3 million dollar contract. Park is expected to compete for the fifth starter's job.
Back in December, I actually suggested the Mets sign Park over at MetsGeek. His component ratios were among the best of the remaining pitchers available via free agency (6.32 K/9, 2.90 BB/9). He's no spring chicken at 34 years old, and he's not a durable pitcher, but at that price he is probably worth a look.
UPDATE [2:33pm by Eric Simon]: Per ESPN.com, (and anonymous in the comments here) the deal is only guaranteed for $600,000 with the remainder of the reported $2.4 million attainable via innings pitched thresholds. Not a terrible signing by any means.