Lee joined the Dutch giants last August from Ulsan Hyundai Horangi.
After battling injuries and homesickness, the 2002 and 2006 World Cup star failed to make much of an impact during his first season with the club.
According to Yonhap News, Jeonbuk’s chief executive Baek Sung-kwon declared that the 2006 Asian champions are interested in the ex-Real Sociedad attacker but lack the necessary funds.
“At the start of this week, Feyenoord offered us Lee Chun-soo,” Baek said.
“If Lee linked up with national team striker Cho Jae-jin it would help our marketing efforts but the transfer fee is too expensive for us.”