Korda, who burst on the scene last year by winning the Australian Women's Open, has had three top five finishes in her last five appearances.
She finished two days of play with a 13-under total of 131 at the Crossings Course on the Robert Trent Jones Golf Trail.
LPGA Tour Hall of Fame member Karrie Webb was alone in second at 132 after firing a 63 while Chella Choi had a 66 for a 133 total.
Second-year tour member Sydnee Michaels shot a sizzling 62 to move into a share of fourth place with Pornanong Phatlum and Thidapa Suwannapura.
First-round leader Lexi Thomson settled for a 70 that put her in a tie for seventh at 135.
Michelle Wie added to a disappointing season by shooting 149 for 36 holes, a score that missed the cut by five shots.