The Penguins will retain 50 per cent of Wotherspoon’s $1-million salary next season.
Wotherspoon, 28, appeared in 80 games for Pittsburgh last season, recording career highs with three goals and 27 assists.
Over four seasons in the NHL, also with the New York Islanders and Boston Bruins, the Surrey, B.C., native has four goals and 42 assists.
Korczak, 25, skated in 78 games with Vegas last season with three goals and 13 assists.
The Yorkton, Sask., native had played his entire five-season career with the Golden Knights, tallying four goals and 33 assists over 155 games.
He is under contract through the 2029-30 season at $3.25 million annually.