The actor played the part of the white-clad ninja in the hit 2009 film G.I. Joe: The Rise of Cobra.
Byung-hun, a native of South Korea, will head to the US to film the sequel this June, says The Hollywood Reporter.
Zombieland scribes Rhett Reese and Paul Wernick are penning the follow-up to director Stephen Sommers's original movie.
G.I. Joe 2 is scheduled to arrive in US cinemas in summer 2012.