British Open champion Shin and Japan’s Uehara both had five birdies to take a one-stroke lead over a group of six.
"Today the weather was so windy, so I played really hard. My strength is accuracy on the fairway and greens but today I missed a lot of the greens," said Korean Shin.
"But my chipping was good and my putting was good. I made only one bogey on the last hole, but I’m really happy with my score."
US Open champion Na Yeon Choi and defending champion Momoko Ueda are in that group along with Maiko Wakabayashi, Shanshan Feng, Beatriz Recari and Angela Stanford.
Inbee Park, who opened the LPGA Tour's Asian Swing with a victory in Malaysia and second last week in Taiwan, is one of 10 players at two-under. A win in the 54-hole event will see her overtake American Stacy Lewis in the LPGA player of the year standings with two events remaining.
World number one Yani Tseng of Taiwan, who won here in 2008, is also in that group after dropping two shots in the last four holes.
"I’m very disappointed with the bogeys on 15th and 18th. I should made more chances but I couldn’t, it’s just one of those days. One-under-par is not a bad score but I could’ve done better," she commented.