The 19-year-old player from Siliguri lost 11-9 6-11 5-11 9-11 and 7-11 at the ExCel centre, a day after women's singles representative Ankita Das, the only other Indian competitor at the Games, bowed out in the first round yesterday.
Soumyajit started off well, winning the first game, but lost the plot thereafter, losing four straight games in a row. It took the Korean just 25 minutes to see off the Indian who was making his maiden appearance at the mega event.
Soumyajit had made a memorable debut at the Games by winning his first-round match against Brazilian Gustavo Tsuboi 4-2 yesterday.
But unlike his opening match, Soumyajit was not his usual self and made quite a few errors, which proved crucial in the end. The match ended when Soumyajit netted a backhand following a long rally.
"I think I was tense about the result and couldn't play well. The fourth was good, it was 4-0, and then 9-8 but he was better than me and he won. I could have won but he was better than me at the table," Ghosh said after the match.
"He is 77 better than me in the world rankings, but I can take the experience from my first Olympic Games and come back better. Success does not come easily," he added.