Morrison finished first in her semifinal, but was narrowly edged out of a bronze medal by China's Yu Tong Han. South Korea took home the gold and silver medals.
Montreal's Namasthee Harris-Gauthier took 10th place overall after finishing fourth in the B final, while Jamie MacDonald of Fort St. James, B.C., was eliminated in the preliminary round and ended up in 17th.
"I knew that with three Koreans in the final, they would probably try to control the race," said Morrison. "I was able to get in between them at the start and a little towards the end, but at that point I was really feeling it in the legs and I wasn't able to stay ahead of the Chinese skater.
"Finishing third would have been better, but I was close, so I'm happy with fourth place nonetheless."
The top three was the same on the men's side, with South Korea earning the top two finishes, followed by China and then Canada's Dion. Dion also looked to be headed to a spot on the podium but was outmanoeuvred near the finish line.
Canada's 5,000 men's relay team qualified for Thursday's semifinal after finishing second in its heat. The Canadian women didn't have to go through a qualifying round and will also compete in the semis.
Canada advanced to Thursday's final against Russia in women's hockey after downing Japan 5-2 in the semifinal. Tess Houston of Winnipeg scored the winning goal on a short-handed breakaway, while forward Morgan McHaffie of Guelph, Ont., scored twice.
In men's hockey, Kruise Reddick of Manor, Sask., had a hat trick, Levko Koper of Edmonton assisted on all three of his goals and goalkeeper Ryan Holfeld of Leroy, Sask., made 20 saves as the Canadians blanked the United States 4-0 in quarter-final action. The win sets up Friday's semifinal between Canada (4-0) and Russia (3-1).
And in alpine skiing, Ottawa's Stephanie Gould recorded Canada's top performance in the women's giant slalom, finishing in eighth place.Suggest a correction