Wolves have turned Hwang Hee-chan's loan move from RB Leipzig into a permanent deal.
The 26-year-old moved to the Premier League in the summer, with Bruno Lage's side having an option to make the move permanent for £14m.
That clause has now been triggered, with Hwang agreeing a contract until the summer of 2026.
The South Korean has made 14 Premier League appearances for Wolves, scoring four goals.
Meanwhile, it is understood there has still been no agreement between Tottenham and Wolves for Adama Traore.
Spurs boss Antonio Conte is keen to sign the Spain international but with uncertainty over the Tottenham futures of Dele Alli, Tanguy Ndombele and Giovani lo Celso, Wolves are resigned to transfer talks continuing until much nearer Monday's 23:00 GMT deadline.