Abbasi lost to South Korean Yoo Sang-hoon 2-1 at the Ganghwa Dolmens Gymnasium and failed to qualify for the final match.
Iran’s Mohsen Mohammadseifi at the men’s 65kg, Hamid Reza Ladvar at the men's 75kg and Elaheh Mansourian at the women's sanda 52kg have already advanced to the final matches.
Some 9,500 athletes from 45 countries are competing at the Games, the world's second-biggest multi-sport event after the summer Olympics, with 439 gold medals in 36 sports up for grabs.
Iran has participated in the games with 276 athletes in 22 sports.