The Hoops were among three clubs to have submitted offers for the in-demand forward, who scored twice at the tournament in Qatar, with Bundesliga side Mainz and MLS outfit Minnesota United also keen on landing the 24-year-old.
Gue-sung had reportedly been leaning towards a move to Mainz due to his desire to play in one of the big European leagues, where he would also join up with his international team-mate Jae-sung Lee.
However, according to Korean news outlet Sports Donga, the player will not be moving anywhere in the January window, after quoting a K-League source, who stated: “Cho Kyu-sung has decided to stay in Jeonbuk. I know he made up his mind ahead of the weekend. For now, it seems that there will be no transfers this winter unless there are decisive variables such as big European leagues and large proposals from big clubs.”
Celtic had hoped to win the race for Gue-sung after submitting a bid in the region of £2.6million including a 50 per cent sell-on fee but according to the report, the Hoops pursuit of other candidiates, including fellow South Korean Oh Hyeon-gyu, was one of the factors in Mainz becoming the preferred choice, as well as the German club's head coach, Bo Svensson, contacting Gue-sung directly to express his interest.
However, after conversations with Jeonbuk technical director Park Ji-Sung, the player has now seemingly opted to wait until the summer before seeking another opportunity to move into Europe.