The replacement is here.
Korver, 31, averaged 8.1 points and 2.4 rebounds in 65 appearances for the Bulls last season, his second season with the team. The veteran forward is known as a solid off-the-bench shooter and worker. He played in all but one game for the Bulls during the last two seasons.
"I appreciate the toughness and the competitive energy Kyle brings to the game every night, and we're very excited to add him to our team." Hawks GM Danny Ferry said in a statement. "Adding him makes shooting an even greater strength for our club."
Korver will help fill in the perimeter scoring gap created when the Hawks traded Johnson, their All-Star guard, to the Brooklyn Nets earlier this summer. Atlanta also traded forward Marvin Williams to the Utah Jazz in a separate deal.
Korver will be paid $5 million for the 2012-13 season, the final year of his current contract.
The move is simply a salary dump for the Bulls, who have major dollars committed to Derrick Rose, Carlos Boozer, Luol Deng and Joakim Noah, and also face a decision on whether or not to match a large Houston Rockets offer sheet to reserve center Omer Asik.