Cristie Kerr, who won the LPGA Takefuji Classic two weeks ago, posted a 5-under-par 67. She shares third place with Lorie Kane and Becky Morgan.
Annika Sorenstam birdied her final two holes to shoot a 1-under 71.
Kim began her round on the 10th tee at Eagle's Landing Country Club and quickly caught fire. She dropped an 8-iron within 5 feet at the 10th to setup her first birdie.
The 20-year-old Kim drained a 7-footer at the next to make it two straight and then made it three in a row when she rolled in a 35-foot birdie at the 12th to quickly get to minus-3.
Kim stumbled to a three-putt bogey at the par-3 16th, but came right back with a 6-foot birdie putt at the next. She chipped her third shot to the par-5 18th within 2 feet of the cup and kicked that in for her fifth birdie of her opening nine.
Around the turn, Kim got to 5 under when she sank a 5-foot birdie putt at the third. She again three-putted a par-3, the fourth, to slide back to minus-4.
Kim ran off three consecutive birdies from the sixth to claim the overnight lead. She rolled in a 12-footer for birdie on No. 6 and came back with a 6-footer at the next.
She capped her stellar round by dropping an 8-iron within 3 feet of the cup at the eighth for her final birdie of the day.
'I just had a different mindset coming into this tournament, and I missed the cut two weeks ago in Las Vegas and I was just real bummed out,' said Kim. 'I just sort of put myself together and just said the birdies are out there. There's no reason why you can't make four, five, six birdies out there or a couple more.'
Park opened her round by draining an 8-footer for birdie at the first. After a series of pars, she two-putted for birdie at the sixth and came right back with another two-putt birdie at the short par-4 seventh.
Around the turn, she dropped a shot at the par-3 11th after taking an unplayable lie when her ball plugged in a green-side bunker. She erased that mistake with a two-putt birdie at the par-5 13th.
Park drained a 40-footer for birdie at the 15th then dropped a wedge within 12 feet for birdie at the 17th. She closed her round by sinking a 5-foot birdie putt at the last to take second place.
'I'm very pleased with today's 66,' said Park, who won the Kraft Nabisco Championship, the season's first major. 'I really wanted to start off good, and fortunately, I was able to do that today.'
Se Ri Pak, the defending champion, opened with a 4-under-par 68. If she comes back to repeat as champion, she will qualify for the LPGA and World Golf Halls of Fame. Pak is joined at minus-4 by Catriona Matthew and Lorena Ochoa in sixth place.
Jeong Jang, Janice Moodie, Meg Mallon, and a pair of tour rookies, Stacy Prammanasudh and Aree Song, are one stroke further back at minus-3.