The inspection machine in PCB (printed circuit board) assembly line checks assembly errors by inspecting the images inside of the component inspection region. The component inspection region consists of region of component package and region of soldering. It is necessary to extract the regions automatically for auto-teaching system of the inspection machine. We propose an image segmentation method to extract the component inspection regions automatically from images of PCB. The acquired image is transformed to HSI color model, and then segmented by several regions by clustering method. We develop a modified K-means algorithm to increase the accuracy of extraction. The heuristics generating the initial clusters and merging the final clusters are newly proposed. The vertical and horizontal projection is also developed to distinguish the region of component package and region of soldering. The experimental results are presented to verify the usefulness of the proposed method.