But Lee's effort, which equaled the course record at Kingsmill, gave her just a one-shot lead over fellow South Korean Kim Mi-hyun.
Only a bogey at the par-4 10th prevented Lee from improving the course record as she blazed her way around the course with nine birdies -- including a run of five straight on the front nine.
But Kim, who defeated Juli Inkster in a playoff at the SemGroup Championship on Sunday, stayed right on her tail.
Kim's bogey-free 64 included seven birdies.
"I just played really steady, just hitting all the fairways, hit all the greens," said Lee, whose six birdies on the front nine included five in a row from the third. She started that run by sinking a 10-footer for birdie at the par-five third, and at the seventh she chipped to 36 feet and made that.
She picked up one more birdie at the ninth before giving a shot back at the par-four 10th, where she pulled her drive and missed a 12-footer to save par.
Taiwanese players were bubbling under, with Amy Hung (洪沁慧) shooting 67, Candie Kung (龔怡萍) at 69, Teresa Lu (盧曉晴) at 71 and Lin Yu-ping (林玉萍) at 74.
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