The 27-year-old forward has been in good form at Wolves this season, scoring six times in 12 Premier League appearances for the club.
He has more than two years left on his contract but Wolves are mindful of the interest he has been gathering.
Wolves are keen to sort out his long-term future soon and get him signed up on a new contract in the coming months.
The club are in talks with his agent over a new contract but a few teams are already circling around Hwang.
It has been suggested that a number of clubs are keeping themselves informed about his contract situation at Wolves.
They would be prepared to pounce if Wolves struggle to agree terms on a new contract with the striker.
For now, Wolves are calm about the situation but are mindful that they need to sort out the talks with the forward as soon as possible.
