Arsenal signed South Korean striker Park Young from Monaco on Tuesday, pending his formal registration process.
Park was reportedly close to a switch to French side Lille, but instead inked a deal with the Gunners.
"We are delighted to have signed Chu," Arsenal manager Arsene Wenger said. "He will add true quality to our attacking forces and will be a valuable addition to the squad."
Park, 26, joins on an initial two-year contract, as he could be forced to go back to South Korea in 2013 for a mandatory period of military service.
He scored 25 goals in 91 Ligue 1 matches for Monaco, and is currently captain of his national team. He made his international debut at age 19 and played in the 2006 and 2010 World Cups.
"I am very honored and I feel very happy to be at Arsenal," he said. "It is a dream to be here and I am really proud to be an Arsenal player. Now I just want to show how good I am and prove myself.
"In my opinion, this is a great club. Now I have to show what I can do on the pitch. I will do my best, I will never give up, I will show heart, I will give everything and I hope (the fans) will support me."