Park, who carded a four-under 69, hit four birdies, two bogeys and an eagle on the 18th hole in overcast conditions.
"I didn't have as many opportunities as I would have liked as the iron shots were a bit off today and I only eagled one par five and had par on the other," she told the LET official website. "They key to this golf course is making birdies on the par fives so if I can do that tomorrow I think it will be a great round."
Morgan meanwhile was ecstatic to be in the lead since she is still gunning for her first Ladies European Tour victory.
The 40-year-old added that she was pleased to have played in the afternoon since it was wet and windy in the morning.
"I had a really good finish and birdied the last three holes, but I played really steady and hit some really good hybrids into the longer par fours and missed a couple of putts early on so all in all I was pretty happy," she said.
"I three putted the par 3 15th and gave myself a talking to and birdied the last three. 16 is a short par four and you've got sand wedge going in, so that was a good way to get a birdie back and I holed a 12 feet putt. On 17 I hit a good shot to five feet and I was happy and on 18 they've moved the tee up so it's very birdie-able."
Suzann Pettersen, who was considered Park's main rival heading into the tournament, was content with her performance despite hitting a level par 73 to finish in 14th place on the leaderboard.
"I played pretty good. Just, gosh, way too many putts," the 2013 champion said. "You've got to hit these putts so firm and hard to get it to the hole and I didn't seem to pick that up at all through the round so a little bit of work to do, but overall decent. I'm playing okay, just not executing when I have a chance."