In this paper, we describe a morpheme-based pronunciation lexicon useful for Korean LVCSR. The phonemic-context-dependent multiple pronunciation lexicon improves the recognition accuracy when cross-morpheme pronunciation variations are distinguished from within-morpheme pronunciation variations. Since adding all possible pronunciation variants to the lexicon increases the lexicon size and confusability between lexical entries, we have developed a lexicon pruning scheme for optimal selection of pronunciation variants to improve the performance of Korean LVCSR. By building a proposed pronunciation lexicon, an absolute reduction of $0.56\%$ in WER from the baseline performance of $27.39\%$ WER is achieved by cross-morpheme pronunciation variations model with a phonemic-context-dependent multiple pronunciation lexicon. On the best performance, an additional reduction of the lexicon size by $5.36\%$ is achieved from the same lexical entries.