Jan Verthongen struck with 12 minutes remaining to give the Red Devils their third victory in Group F and extinguish the Koreans' hopes of making the second round.
However, Myung-Bo was quick to ensure any criticism for the defeat was placed solely on his shoulders, defending the performances of his players and emphasising their potential.
"We played attacking football but conceded a goal via counter attack," the 45-year-old told KBS.
"We could not help it. The players did their best. The most disappointing man was myself."
South Korea have taken their youngest ever World Cup squad to Brazil with an average age of just over 26, and only five of the 23 players having played in the tournament - and Myung-Bo claims that means the national team will only improve.
"Korean players are young and they have bright future," he added.
"I hope that they develop. They had good experience this World Cup."