Prosecutors said Tuesday they have cleared the head of a private Seoul university of allegations that he embezzled school funds.

Park Chul, the president of Hankuk University of Foreign Studies, was summoned by prosecutors early this month over accusations that he misappropriated some 160 million won ($149,250) in school funds, mostly earmarked for public relations costs. He was also suspected of buying gift cards worth some 100 million won for his personal use.

"(We) ended our internal investigation into the case as there was no evidence to prove that Park misused school funds or purchased private gift coupons," said an official at the Seoul Northern District Prosecutors' Office. (Yonhap News)