"Park Chan-ho delivered a letter to the club this afternoon stating his intention to retire," said the Hanwha Eagles official, adding that the club decided to "respect the decision."
The 39-year-old Park, who signed a one-year deal with the Eagles last December, will hold a press conference at the Westin Chosun Hotel in Seoul at 11:00 a.m. on Friday, according to the official.
While Park helped pack stadiums this year, his performances were mediocre at best. Park won his very first start in April but ended the year with a 5-10 record and a 5.06 earned run average (ERA), as the Eagles ended in last place.
Signed by the Los Angeles Dodgers in 1994, Park was the first South Korean to play in the majors. The 2001 major league All-Star won 124 games, the most ever by an Asian pitcher in the majors, and put up a 4.36 earned run average (ERA).
After ending his 17-year career in the U.S., Park moved to the Orix Buffaloes in Japan in 2010.
But his stint with the Buffaloes in Japan barely lasted a season. Oft-injured Park only pitched in seven games, and none after June, going 1-5 with a 4.29 ERA.