Speculation has mounted that the Spanish side are keen to bring in a forward for the coming season.
The South Korean has barely featured for Arsenal and could move to the newly promoted side on loan with a view to a permanent switch.
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Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.
Newcastle United are staring down the barrel of relegation to the Championship for the second time in the past eight years.