Competing in the recurve mixed team event, Huston and Folkard - who both represented Team GB at the Rio 2016 Olympic Games - overcame Japan 5-3 in the play-off to climb the final step of the podium.
Facing fifth seeds Takaharu Furukawa and Tomomi Sugimoto in the battle for bronze, Huston and Folkard took the first set 36-31 and the second 37-36 to give them a 4-0 lead.
The Japanese pair fought back in the third, before both pairs scored 34 points in the final set - enough to earn Huston and Folkard the medal.
The British duo had only just reached the knockout stages of the competition having finished 15th in the qualification series.
But they bounced back in emphatic style, defeating second seeds Taipei before toppling the host nation en route to the semi-finals, where they eventually lost at the hands of Germany.
In the individual events, Huston reached the last 16 of the men's recurve, while Folkard reached the 1/24 round.
Brands Hatch, 2017