Karacan's father is Turkish and he has played for Turkey at youth level. He is being linked with a move to Istanbul where he would link up with the likes of Wesley Sneijder and Didier Drogba.
But Karacan insists he wants to stay with the relegated Royals next season and help them back to the top flight.
"It happens every year," he said of the speculation, "and I keep getting bugged about it. I'm a Reading player.
"I signed a deal last summer and everyone wants to play in the best league in the world and it's gutting to not have that next year.
"Reading is a Premier League club and we know we should be there and we will try our hardest to get back up. Anything can happen in the summer.
"I'm a Reading player and I will be as happy as ever if I'm still here."