Reds to sign South Korean and other red-hot gossip

Liverpool have emerged as favourites to sign Bolton winger Lee Chung-Yong. The South Korean international has impressed Reds coach Rafa Benitez who is ready to flash £8m under Bolton’s noses to secure the services of the 21-year-old former FC Seoul player. Chung-Yong is expected to help provide extra creativity and more firepower for the Liverpool strikers. Elsewhere, Tottenham are interested in splashing £2m on Notts County goalkeeper Kasper Schmeichel, the son of Manchester United great Peter; Liverpool striker Fernando Torres has blamed the club's failure to challenge for the EPL title squarely at the feet of the Anfield outfit's owners George Gillett and Tom Hicks; Arsenal want to team Bordeaux striker Marouane Chamakh with Wigan's Hugo Rodallega after the Moroccan international striker signed a four-year deal at the Emirates; and Lazio left-back Aleksandar Kolorov is "honoured" by the reported interest of Liverpool, Real Madrid and Inter Milan.