The Midlands outfit initially signed the centre-forward on loan from RB Leipzig in the summer of 2021 and in the following season, made the move permanent.
In the ongoing season, Hwang has been in impressive form for Wolves and has netted eight times in the league while providing two assists so far.
Wolves boss Gary O’Neil has been impressed by Hwang’s performances and wanted the club to tie down the striker on a long-term contract.
Hwang has two and a half years left on his contract with Wolves, which is set to expire in June 2026.
And it has been claimed that Wolves have managed to agree to a new deal with Hwang that will extend his stay at Molineux until June 2028, with the option to extend for a further year.
It is suggested that the new deal will make the South Korean international one of the highest earners at the Midlands outfit.
Hwang has scored twice in his last four appearances in the league and O’Neil will be hoping that the centre forward will be able to continue his form until the end of this season.
