However, Lee's player management agency has denied the speculation and has confirmed the 21 year-old will definitely be at Reebok Stadium for the start of the next campaign.
"I never received the offer from Liverpool, there was absolutely no contact. Speculation about the future is not helpful," said a spokesperson for TI Sports.
"(The link is) in a word, absurd. Liverpool did not have any discussion.
"Next season will be a lot easier (for Lee), but there is still much to learn in terms of player development.
"Lee wants to be a regular at Bolton next season, this is important (for him). It is important that Bolton stay in the Premier League, that is the biggest objective."
The South Korea international has been a revelation for the Trotters since joining them last summer, scoring five goals so far this term.
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Source: Team Talk
Source: Team Talk