
Hwang, 29, who has scored 15 goals in 45 international appearances for South Korea, signed for Forest from Bordeaux who were relegated from Ligue 1 at the end of last season. No fee was disclosed for the transfer.
“Nottingham Forest is delighted to confirm the signing of striker Hwang Ui-jo from French side Bordeaux,” the newly-promoted English side said in a statement.
“The South Korea international will immediately head out on loan to Greek champions Olympiakos for the remainder of the 2022/23 season.”
The Greek champions confirmed the deal with a statement on their website: “Olympiakos FC announces that Hwang Ui-jo has joined the club, on loan from Nottingham Forest.”
Hwang joined Bordeaux in July 2019 and played 98 matches, scoring 29 goals with seven assists.
Olympiakos beat PAS Giannina 2-0 in their opening game of the new season last weekend.