Park had sought to replace her prime minister as part of an extensive cabinet reshuffle aimed at restoring public trust in her administration, which has been engulfed by a corruption scandal.
In an effort to create a unity cabinet, she had nominated a liberal candidate from outside her conservative Saenuri Party, but opposition MPs insisted they would reject the choice because they were not properly consulted.
The prime minister is a largely symbolic post in South Korea, where power is firmly concentrated in the presidency.
It is the only cabinet post requiring parliamentary approval.
During a meeting Tuesday morning with the speaker of the legislature, Park said she would confirm a different nominee approved by MPs.
"If the National Assembly recommends a new premier, I will appoint him and let him control the cabinet," Park said.
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