The South Koreans won the first set 38-36, but Chinese Taipei returned the favor by taking the second set 39-38 and evening the score at 2-2.
South Korea went up 4-2 after winning the third set 39-37. Tan and Wei eked out a 39-38 win in the fourth set to send the match to the shoot-off.
Given one arrow each, Ki and Lee hit a 10 and a 9, respectively. Tan had a slip-up with an 8, and Wei's 10 wasn't enough to salvage Chinese Taipei.
Ki, a seasoned veteran with two Olympic gold medals to her name, said having been in many shoot-offs in national team trials helped her prepare for the showdown at the Universiade.
She admitted to having a lapse in concentration in the fourth set when rain began coming down. She shot an 8 with her second arrow in the set and had to bear down for the clutch 10 in the shoot-off.
(Yonhap)
"I wanted to make up for that and I didn't want to put too much pressure on Seung-yun," Ki said. "I didn't think the final was going to be easy. I was nervous, but I relied on Seung-yun to get through."
Lee also said he had butterflies in his stomach during the shoot-off. He said he was "lucky" to hit a 9 and thanked his teammate for hitting dead center.
Asked if he was feeling extra burdened by competing at home, the 20-year-old said, "It actually helps to be at home because there's no jetlag. I think it's helped me do well here."
Lee, cool as a cucumber, stepped into the individual final moments later and dispatched Ku 6-0. He scored a perfect 30 in the decisive third set of the easy victory.
Then in the last final of the day, Ki and Choi engaged in a memorable duel, trading a perfect score of 30 to finish their five sets tied at 5-5.
In the one-and-done shoot-off, Ki scored a 10 while Choi hit a 9. Choi reeled off seven straight 10s at one point and had 10 of them in the losing cause. (Yonhap)