The South Korean ace fired a closing three -under 69 in a final-group duel with second-placed Korda (67) as she triumphed at 28-under 260 in Phoenix on Sunday in a tournament where she twice posted 61s.
Kim, who also won the Ford Championship last year, now has back-to-back wins for the first time in her career, both against Korda.
Last week in the Founders Cup, the 30-year-old Kim also held off a Sunday charge by the American.
"I wanted to ask Nelly how it feels to win back-to-back," Kim said with a laugh, referring to Korda winning five straight starts during the 2024 season.
Korda has won and twice been runner-up in three starts on the LPGA this year. It was the lowest she has been under par (26 under) in her LPGA career. She just ran into one of the hottest players in women's golf.
"I'm done playing with her," Korda said, jokingly. "This was the fifth straight time they were in the same group.
"Hyo Joo has been playing amazing golf," Korda said. "She a phenomenal player, and person. She definitely motivates me on the golf course."
With three early birdies it looked as though Kim could break the LPGA scoring record of 257 set by her countrywoman Sei Young Kim at the 2017 Thornberry Creek LPGA Classic.
However a double bogey at the eighth slowed her momentum. She also twice missed 5-foot birdie chances, and she also had a three-putt bogey on the 16th.
Japan's Minamu Katsu (65) was third, five shots behind the winner while New Zealand's Lydia Ko, who began the tournament with a 60, wound up fourth, eight shots behind.
Cassie Porter again impressed with a closing 67 to finish tied 13th on 16 under while fellow young Australian Karis Davidson fell away with a 75 to tie for 60th (seven under) and Robyn Choi (74) was 74th.
