Park allegedly displayed a flag which supported sovereignty of a group of islands that is disputed territory between themselves and Japan.
Political messages are banned at the Olympic Games, and FIFA have taken it upon themselves to punish Park.
"In view of the information currently at his disposal, the chairman of the FIFA disciplinary committee has this afternoon decided to open disciplinary proceedings against the player Park Jongwoo, regarding his behaviour after the match played between the Republic of Korea and Japan on August 10," said a FIFA spokesman.
"The KFA and the player now have a deadline of August 16 to provide their position. Further information will be provided in due course."
Korea beat Japan 2-0 to claim the bronze medal.