In the match held at the Ganghwa Dolmens Gymnasium, Khodabandeh lost to Chinese Donghua Li 10-8 in the final match.
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.