The 26-year-old, who has played nearly 200 games for the Championship side since joining from FC Seoul in 2009, is out of contract in the summer and Bolton are said to be willing to accept a deal worth £1.5m plus add-ons.
Palace already have options in wide positions, including Yannick Bolasie, Jason Puncheon and Wilfried Zaha, while Pardew has confirmed Lee is just one of a number of targets he hopes to land during the transfer window.
Pardew said: “I think we have enquired on about three, four or five different players and whether they’re available, that’s really where we’re at.”