Teenage swimmer Park Tae-hwan has won the bronze medal in the men’s 200-meter freestyle at the World Swimming Championships in Melbourne, Australia.

In Tuesday's finals for the 200-meter event, Park finished third with a time of 1:46.73, a new Asian record.

Former U.S. Olympic champion Michael Phelps grabbed the gold in a new world's best 1:43.86 seconds. Second place went to Pieter Van Den Hoogenband of the Netherlands.

On Sunday, Park won a gold medal in the men’s 400-meter freestyle, giving Korea its first-ever world swimming title.

The 17-year-old swimmer is scheduled to take part in a 1,500-meter freestyle qualifying heat on Saturday, with the finals slated for the following day.