Celtic are holding talks with Jeonbuk Hyundai Motors technical director Ji-Sung Park in London, after making a bid of around £3m for striker Gue-Sung Cho.
It is understood the South Korea international is a player Rangers are also aware of, but no official approach has been made for the player.
Bundesliga club Mainz made an offer similar to Celtic’s, while Ferencvaros were also interested in the 24-year-old but have not tabled a bid as of yet.
Reports in South Korea suggest MLS club Minnesota United were also looking at a deal that would eclipse any offers currently on the table for Cho.
Sky Sports News revealed Cho was a target for Celtic in December after he scored two goals against Ghana at the World Cup.
Celtic have been scouring the globe for talent recently, with scouts sent to countries including South Korea, Iran and the UAE. It is understood a number of targets from the Middle East and Asia have emerged.
The Hoops have already signed Yuki Kobayashi and Tomoki Iwata from the J League in this window, as well as Canada right-back Alistair Johnston from MLS side CF Montreal.
Rangers, meanwhile, are monitoring Norwich City’s Todd Cantwell, who is out of contract in the summer, but are yet to make a formal approach for the midfielder.
Speaking to Sky Sports News, Ibrox boss Michael Beale confirmed he is hoping to add two or three players to his squad during this transfer window.
“We have spoken to two or three players,” he said.
“Our phone has not stopped. There are a lot of players interested in coming here. I have to make sure they are the right ones.
“I’m a little bit fussy. It’s alright doing something on Zoom, I want to sit in front of a player and look in his eyes.
“This week has been spent meeting people face to face and getting a feel for them, telling them exactly what I want, not the other way round. What I am expecting from them.
“When I am recruiting I am recruiting for specific roles.
“I would say that the two or three I’ve spoken to are very keen to come and sooner rather than later, the same on our side. So let’s see.”
Follow the January transfer window with Sky Sports
Who will be on the move this winter? The January transfer window closes at midnight in Scotland on Tuesday January 31, 2023.
Keep up-to-date with all the latest transfer news and rumours in our dedicated Transfer Centre blog on Sky Sports’ digital platforms. You can also catch up with the ins, outs and analysis on Sky Sports News.