Park, who remains ninth in the rankings, shot a 19-under-par 269 to win the HSBC Women's Championship by one stroke.
Ko, who tied for ninth at the HSBC Women's Championship, became the youngest player to reach No. 1 at age 17 in February 2015 and has remained there ever since.
South Korea's So Yeon Ryu moved up one spot to No. 5. She has held the world's fifth ranking for a total of 62 weeks in his career. The last time Ryu was ranked outside the top 13 was in August 2012.
Ryu tied for seventh at the HSBC Women's Championship at 13 under.
Thailand's Ariya Jutanugarn maintained her spot at No. 2 while China's Shanshan Feng and South Korea's In Gee Chun round out the top five.
South Korea's Ha-Na Jang dropped one spot to sixth. Lexi Thompson is the top-ranked American at No. 6 while South Koreans Amy Yang (No. 8) and Sei Young Kim (No. 10) complete the top 10.
(Editing by Steve Keating in Toronto)
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