Skip Heather Nedohin was accompanied by third Beth Iskiw, second Jessica Mair and lead Laine Peters as they won at the Enmax Centre to capture a medal.
Canada had lost to the same Korean team in Saturday's three-four play-off.
It is Nedohin's second career bronze, having played as a third for Cathy King's team at the 1998 World Championships.
"This has been an amazing experience," she said. "We’re just really glad that we worked together as a unit - it’s been a strong week, a hard week, we’ve learned a lot about our team in adversity.
"And we’re really proud to have worn the maple leaf here in Lethbridge."
Korean skip Ji-Sun Kim said: “We did not win today and we’re sad that we lost, but Canada played a good game.
"Nobody really knows about curling in Korea, today’s game was being broadcast in Korea, so more people will be watching and learning about curling now, and hopefully we’ll have more support in the future."
Teams earn Olympic qualifying points at these and the 2013 Worlds, with the top seven - hosts Russia receive an automatic entry and are therefore ignored - competing at Sochi 2014. Scotland's points are taken by Britain.
An additional two nations will compete in Russia at an Olympic qualifying event to be held in December 2013. All nations that competed at the 2011, 2012 and 2013 Worlds are eligible for this if they have not already secured their spot.
Czech Republic 1
1. Switzerland 10-4 GOLD
2. Sweden 9-4 SILVER
3. Canada 9-5 BRONZE
4. Korea 9-5
5. USA 7-5
6. Scotland 6-5
7. Germany 5-6
8. Denmark 5-6
9. Russia 4-7
10. Italy 3-8
11. China 3-8
12. Czech Republic 2-9