The billionaire businessman already owns a number of shares in Blues, but he admits he is now keen to buy out the club.
"I am really hopeful we can take over as soon as we can," Yeung told Sky Sports News. "I think we may be able to take over by the end of the year, maybe earlier than that."
"I came here before. I love the city," Yeung added. "I know many people here. Karren Brady [managing director] is nice and David Gold is very kind. Steve Bruce is also a very good coach and has given me a lot of support.
"We talked for a very long time and he has so many ideas and we can do well. I wouldn't want to get involved in team affairs. I'm a businessman, I'm not qualified in football management.
"I love the team, they have a lot of experience and do very well. It is my dream to make Birmingham the best team in the world. I can try my best."
Yeung, though, does admit that if he takes control of Birmingham he will be looking to make money out of the club in the future.
"Making money does appeal to me, but you must spend first and then you can make a big return in the future."