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He hit .321 in 128 games in 2014, then clubbed 26 home runs and drove in 97 runs this past season.
Major League teams will have one week to submit their bid, and the Lotte Giants will be able to accept the highest bid or retain Hwang for the 2016 season. If a bid is accepted, the two sides would have 30 days to negotiate a contract.
According to MLB Trade Rumors, Hwang will be a true free agent next offseason (allowing him to pursue a Major League opportunity without the restrictions of the posting system), which could impact the Lotte Giants' decision to accept an MLB team's bid.
Joey Nowak is a reporter for MLB.com. Follow him on Twitter at @joeynowak. This story was not subject to the approval of Major League Baseball or its clubs.