Hwang has scored four goals in 14 Premier League appearances since arriving at Molineux in August.
The 26-year-old, who netted on his Wolves debut against Watford, will sign a deal keeping him at the club until 2026.
“The winger is currently five months into a season-long loan at Molineux, but having agreed personal terms before his arrival last summer, Wolves have now activated a clause to make his move from RB Leipzig permanent later this year (on July 1), on a deal until 2026,” the club said in a statement on Wednesday.
Wolves’ technical director Scott Sellars said: “With every new signing you have to expect a period of settling in and adapting to their new environment but straight away, Hee-chan has shown exactly what we expected of him as a player, but he’s also settled in quickly and made an impact.
“He’s had a really positive effect on not only the team but also the whole football club, and he’s been a fantastic addition to Wolves.”
(AFP)