The South Korean told a news conference in Seoul on Monday he has agreed to a one-year deal worth $1.2 million with an additional $300,000 performance to join the Yankees bullpen.
Yankees general manager Brian Cashman said Monday that he has had several conversions with agent Jeff Borris, who represents Park, but a deal is not complete.
The 36-year old Park went 3-3 with a 4.43 ERA in 45 games with the NL champion Philadelphia Phillies last year. The right-hander worked 3 1-3 scoreless innings against the Yankees in the World Series.
Cashman called him "very attractive, especially what he does out of the bullpen."