Pattaya, Thailand, Feb 24, 2013 (AFP) - The Korean world number four, who made a final-round 67 to finish the tournament 12-under at 276 (67-71-71-67), looked on in shock from the locker room as 17-year-old Ariya triple-bogeyed the last to lose by a single shot.
Overnight leader Ariya finished 11-under (69-66-70-72), with world number one Tseng Yani a shot further back (75-68-72-63) in joint-third with Korea's So-Yeon Ryu (68-68-74-68), American Stacy Lewis (63-69-76-70) and Beatriz Recari of Spain (68-68-72-70).
It was the cruellest of outcomes for the young Thai who captured hearts with courageous golf -- even making a hole-in-one on the 12th -- before tears as she left the final green to be consoled by her older sister and fellow pro golfer Moriya.
"I don't know what to say... I'm still shocked," said Park, who watched stunned as Ariya's misery unfolded at the final hole.
"Nobody expected this, but it's golf. She (Ariya) has played incredible golf over the last few days. I feel really bad for her to lose on the final hole... but it will be a big lesson to her."
Three up at the start of play Ariya, who only turned professional last month, looked set for a famous home victory as she clung onto a two shot advantage into the par five last.
She hit a solid fairway, but found the lip of the bunker and then missed the green as the pressure cranked up and her advantage slipped away stunning a partisan crowd into silence.
Needing a miracle putt to rescue the title, she scuffed from the rough and was then left horrified as her ball curled across the rim of the hole to leave her title dream in tatters.
But speaking to reporters the teen was sanguine in the face of the narrowest of losses.
"I enjoyed playing here today... it was so much fun, it was a great experience," she said.
"To make a hole-in-one... it just made me feel confident because before that hole I wasn't very confident. I just had one really bad hole on 18."
It was a day of flamboyant low-scoring golf with world number one Tseng Yani continuing her return to form by equalling the tournament best round of 63 to finish at 10-under.
The two-time defending champion said her "game is pretty good right now" after a dreadful 2012 which left her clinging to her number one status.
"I'm much more relaxed than last year... it's bringing an improvement. I'm smiling more and being more relaxed on the course."
Leading final scores at the Honda LPGA Thailand in Pattaya on Sunday (par 72):
276 -- Inbee Park (KOR) 67-71-71-67
277 -- Ariya Jutanugarn (THA) 69-66-70-72
278 -- Tseng Yani (TPE) 75-68-72-63, So-Yeon Ryu (KOR) 68-68-74-68, Stacy Lewis (USA) 63-69-76-70, Beatriz Recari (ESP) 68-68-72-70
279 -- Choi Na-Yeon (KOR) 73-71-67-68
280 -- Feng Shanshan (CHN) 71-72-68-69, Lizette Salas (USA) 68-69-73-70
281 -- I.K Kim (KOR) 70-72-72-67, Gerina Piller (USA) 67-74-70-70
282 -- Lexi Thompson (USA) 71-70-72-69, Amy Yang (KOR) 67-75-70-70
283 -- Lydia Ko (NZ) 69-71-74-69, Jessica Korda (USA) 73-67-74-69, Nicole Castrale (USA) 74-68-71-70, Shin Ji-Yai (KOR) 70-73-70-70, Catriona Matthew (SCO) 67-69-76-71
284 -- Danielle Kang (USA) 76-70-71-67
285 -- Caroline Hedwall (SWE) 69-75-72-69, Azahara Munoz (ESP) 70-73-73-69, Suzann Pettersen (NOR) 71-70-74-70, Ai Miyazato (JPN) 69-71-74-71