The Yankees have not announced the signing, and on Monday team GM Brian Cashman declined to say a deal was done. But Park said he had agreed to terms on a deal worth $1.2 million, plus $300,000 in potential incentives, pending a physical.
Park, who pitched for the National League champion Philadelphia Phillies out of the bullpen last season, said he will join the Yankees bullpen, The Korea Times reported.
"I was deliberating on the Chicago Cubs and the Yankees, but their history and championship contention resulted in me picking the Yankees," he said, according to The Korea Times.
Earlier in the offseason, Park turned down a one-year, $3.25 milllion offer from the Phillies.
Cashman admitted the team is interested in Park, but declined to say a deal is done. He said he has
had several conversions with agent Jeff Borris, who represents Park, but has no deal in place.
He said the team does have money left over in its budget to add payroll. Cashman called park "very attractive, especially what he does out of the bullpen."
As for Park fitting into an already full bullpen, Cashman said, "The more, the merrier. You can never have enough."
ESPN The Magazine senior baseball writer Buster Olney. ESPN 1050 New York's Andrew Marchand and The Associated Press contributed to this report.