The young South Korean, who will compete at the 2012 London Olympics, is reportedly close to a move to Rangers only days after they unveiled compatriot Park Ji-Sung
The 23-year-old central midfielder has been linked with a move away from Glasgow throughout the off-season, with speculation mounting about a switch to QPR last week with the club confirming a Korean would join on Monday.
Rangers unveiled Park Ji-Sung instead of Ki, however rumours have persisted with QPR owner Tony Fernandes admitting at Monday's press conference they were interested in the former FC Seoul man.
Ki's agency confirmed to Korean reporters that a deal with the Premier League club is currently being discussed.
"It's true that talks with QPR are in progress, but nothing has been decided yet," Ki's agency said in a statement according to The Chosun Ilbo.
Fernandes had said on Monday: “He is a player we will be watching and also monitoring closely.”
Ilgan Sports had reported on Wednesday that QPR and Celtic have agreed a deal, with negotiations on personal terms still being discussed.
“QPR has completed a deal with Celtic for Ki Sung-Yueng’s transfer and the two sides are currently negotiating over his salary,” the Ilgan Sports source said.
“Ki Sung-Yueng’s side and the clubs are all positive about the transfer, so it is virtually a done deal. Ki will play in the English Premier League.”
QPR, who avoided relegation on the final day last campaign, have already signed Park, Ryan Nelsen, Andy Johnson, Robert Green and Fabio da Silva this off-season.