According to Korean sources, Chan Ho Park signed with the Yanks for 1.2 M.  seems a bit odd of a signing, though Park as a reliever isn't terrible. 

Hmmm, looks like it's confirmed.

http://newyork.yankees.mlb.com/news/article.jsp?ymd=20100222&content_id=8110926

Park is obviously famous for his disastrous (and profitable) stint with Texas, but he had some nice years with the Dodgers (4 actually)  and he wasn't terrible as a reliever in the last couple of years.

His fast ball which had been clocked on average in the high 80 or very low 90s in Texas saw a noticeable uptick with the move to the pen, and he could usually sit 92-93 and hit some 95 . 

I guess this is OKish signing, though it begs the question of what they're going to do with Mitre? As it stands now it seems highly likely (that barring injuries) the pitching staff will look like...

CC / AJ  / Andy / Javy / Joba

Mo/Hughes/Robertson/Aceves / Marte / Gaudin/ Park 

Almost all of those are pretty much locks (As bad as Park can be at times, he's still better than Mitre.)