Park equalled the Olympic record set by Lina Herasymenko in 1996
Defending champion Park Sung-hyun of Korea equalled the Olympic record of 673 points to finish top in the women's 70m individual archery ranking round.
Britain's Alison Williamson was seventh, a place ahead but level on 651 points with compatriot Naomi Folkard.
Mexico's Juan Rene Serrano headed the men's individual rankings with 679 points, while Briton Simon Terry was just nine points behind in seventh.
Team GB's women are ranked second in the team event, with the men in fifth.
South Korea underlined their status as the ones to beat in Beijing by topping the rankings in the men's and women's team events. The women achieved a record Olympic tally of 2004 points.
The South Koreans have a deep pool of talented archers, with archery accounting for three of their nine gold medals in Athens four years ago.
However, none of the South Korean men finished in the top three individual rankings, with India's Mangal Singh Champia finishing one point behind Serrano in second. Ukraine's Viktor Ruban, who was level on points with Champia, was third.
South Korea's world number one Im Dong-hyun finished in eighth place, while team-mate and defending Olympic champion Marco Galiazzo was 12th.
Terry led the way for Britain's men, with team-mates Alan Wills acquiring 661 points to finish 21st and Larry Godfrey finishing 34th on 657 points.
"I will take every match as it comes," said Terry, who won double bronze in Barcelona 16 years ago.
"If I shoot well and I lose I will still be pleased. We've got a good team and we'll do well at these Games."
The performance of the day came from Park who equalled the Olympic record set by Ukraine's Lina Herasymenko in Atlanta in 1996.
Williamson won individual bronze in Athens four years ago
World record holder Yun Ok-hee scored 667 to finish second, while Joo Hyun-jung was third on 664 points as South Korea dominated the top three women's individual spots.
Williamson, who took individual bronze in Athens, and Folkard will take heart from their displays, while fellow Briton Charlotte Burgess was a credible 40th in her first Games.
"We've shot quite well all year," said Williamson. "We are in the mix as far as getting a medal and if we can achieve that then it's brilliant."
Team medals for the women and men will be decided on Sunday and Monday respectively, while the individual women's final takes place on 14 August, with the men set to battle it out for medals on 15 August.