BELMONT, August 11, 2014 (AFP) - The 23-year-old Lee fired a two-under par final-round 69 to finish tied with Park on 14-under par 270.
Park, who took a one-stroke lead into the final round, closed with a one-under 70.
Lee had four birdies and two bogeys in her round at Blythefield Country Club.
Park got off to a quick start, with birdies at the first and third, but wouldn't find another birdie the rest of the way and gave a shot back with a bogey at 14. Lee, who earned her first career win on the LPGA Tour, carded a 2-under 69 during her final round at 14.
Norway's Suzann Pettersen finished in third place after a 69 for 271.
Japan's Haru Nomura closed with a 68 for 274 to finish alone in fourth.
Three players shared fifth place on nine-under 275: Germany's Sandra Gal (66), South Korean Amy Yang (68) and Denmark's Line Vedel (70).
Lee, whose previous best LPGA finish was a tie for second at the JTBC Founders Cup, became the fourth first-time winner on the tour this year along with New Zealand teenager Lydia Ko and Americans Lizette Salas and Mo Martin.
She's the first player to capture her first LPGA title in a playoff since Yang in the 2013 HanaBank Championship.
Leading scores on Sunday from the final round of the LPGA Meijer Classic (x-won at second playoff hole, USA unless stated, par-71):
270 - x-Lee Mi-Rim (KOR) 70-64-67-69, Park In-Bee (KOR) 66-66-68-70
271 - Suzann Pettersen (NOR) 69-64-69-69
274 Haru Nomura (JPN) 70-67-69-68
275 - Sandra Gal (GER) 65-72-72-66, Amy Yang (KOR) 68-67-72-68, Line Vedel (DEN) 68-69-68-70
276 - Feng Shanshan (CHN) 69-69-72-66
277 - Kris Tamulis 70-69-71-67, Cristie Kerr 72-72-64-69
278 - Stacy Lewis 70-72-70-66
279 - Ayako Uehara (JPN) 72-68-70-69, Lydia Ko (NZL) 69-68-71-71, Lee-Anne Pace (RSA) 70-70-67-72, Katie Burnett 71-68-68-72, Paula Creamer 69-70-68-72, Beatriz Recari (ESP) 70-69-67-73
280 - Thidapa Suwannapura (THA) 71-73-72-64, Lin Xi Yu (CHN) 71-70-71-68, Sydnee Michaels 69-70-70-71, Azahara Munoz (ESP) 68-70-71-71, Gerina Piller 68-70-71-71
281 - Jodi Ewart Shadoff (ENG) 69-73-69-70, Giulia Molinaro (ITA) 71-67-69-74
282 - Brittany Lincicome 74-70-70-68, Lisa McCloskey 74-70-70-68, Joanna Klatten 73-70-70-69, Angela Stanford 73-70-69-70