RB Salzburg sporting director Christoph Freund insists they won't sell Hee-Chan Hwang this month.
Wolves have been linked with a move for the 23-year-old in recent weeks.
But Freund has confirmed that Hwang will not be allowed to depart this month.
"Hwang is not for sale in this transfer period," he told the Salzburger Nachrichten.
"We won't let him go for 40million euros (£34m) either. We won't be negotiating with any club."
Hwang has impressed for the Austrian outfit this season with nine goals and 14 assists in 22 appearances.