The talented 19-year-old Wang made eight birdies and an eagle in his nine-under-par round of 63 at Incheon's Sky 72 Ocean Course, which was matched by 21-year-old South Korean compatriot Lee Soo-min.
Wang's effort left him one off the lead in a tie for second with Kang Sung-hoon, who struck a third consecutive 69, with Lee a further shot back at eight-under alongside Cho Min-gyu (67).
Choi, though, remained out in front after a two-under 70 on Saturday gave him a three round total of 10-under 206.
"I didn't watch the leaderboard and it was probably just as well looking at those scores," Choi said.
The 30-year-old, who has won three times on the Korean PGA Tour, is in his third tournament back following a near-two year break to fulfil military duties.
He looked set like having to settle for a share of the lead before Kang made a bogey at the par five 18th.
(Writing by Patrick Johnston in Singapore; editing by Amlan Chakraborty)
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