The action by the IOC remains in place until the player's disciplinary case is completed by FIFA.
The IOC previously told Park Jong-woo's team to bar him from the medal ceremony at Wembley Stadium on Saturday. South Korea beat Japan for the bronze medal.
IOC President Jacques Rogge says FIFA must first decide on possible sanctions. Rogge says "we will take a possible decision of what will happen with the medal later."
After South Korea won on Friday, Park displayed a sign with a slogan supporting sovereignty over disputed islets that Japan also claims.
The IOC and FIFA prohibit on-field political statements.