Prosecutors said Thursday that the former chief of South Korea's English-language television channel, Arirang TV, has been cleared of allegations that he embezzled company assets.

The Seoul Central District Prosecutors' Office said it could not find anything suspicious regarding Bang Suk-ho using company assets for his own profit.

The 58-year-old was embroiled in a scandal earlier this year as he was suspected of spending some millions of won on business trips and forging documents to use company money for family trips.

"We confirmed that no company assets were spent for his own use," a senior prosecutor said, asking not to be named. "Bang used his own money when his family member followed him on a business trip to the United States."

He offered to step down shortly after the scandal erupted in February and the Ministry of Culture, Sports and Tourism, which oversees the English-language network, accepted the resignation. (Yonhap