Her previous victory came in February last year in Australia.

Liu held the overnight lead at 19-under, with Ko four strokes back. Liu managed just two birdies through 12 holes, while Ko made a run including four birdies in 11 holes to reach 19-under.

Then starting at the 14th, Ko reeled off three consecutive birdies. The last of those three birdies gave Ko sole possession of the lead at 22-under.

Playing two groups behind, Lui had her third birdie of the day at the 15th to pull into a tie with Ko at 22-under.

The South Korean finished her day at 22-under with pars on the final two holes and watched the late drama unfold. American sisters Jessica and Nelly Korda both finished at 21-under, and that left the final pairing of Liu and Carlota Ciganda, who was also at 21-under, as the only ones with a chance to catch Ko.

Liu's second shot to the 18th green fell short and she chipped it several feet past the hole. Needing to make the par putt to force a playoff with Ko, Liu missed it by mere inches to the right for the only bogey of her final round.

Ko, world No. 9, took home $225,000 for the win and jumped to second place on the money list. (Yonhap)