Arirang TV CEO Bang Suk Ho Steps Down From Post After Allegedly Misusing Company Funds While On Business Trip

by Diana Tomale / Feb 03, 2016 06:43 PM EST

President of Arirang TV Bang Suk Ho has stepped down from his position amid allegations of misusing company funds during a business trip in New York. Bang reportedly used company funds to pay for expensive meals and other things while on a business trip in September, Korea Joongang Daily reported Wednesday.

In the course of controversy, Bang offered to resign from his position as the chief executive officer of South Korea's only English-language network. On Tuesday, the Ministry of Culture, Sports and Tourism revealed that it had allowed Bang to leave his post. However, the ministry added that it will carry on with an investigation regarding the issue on Friday.

In addition, the ministry also said it will impose punishments in accordance with the law if the accusations are proven to be true.

On the other hand, Bang denied the accusations and rejected the issue that he was with his family during the business trip.

"My family didn't accompany me on my business trip to the U.S. in September," he said, as noted by Korea Times Tuesday. "I didn't pay for my family's dinners with the corporate credit card."

He went on, "The ministry will announce the results of its inspection. I will fully cooperate with the ministry to reveal the truth."

Yonhap News Agency reported Tuesday that the Arirang TV head tendered his resignation a day after an opposition lawmaker claimed that Bang has spent $6,000 on a first-class flight bound to New York, rental car fee of about $700 per day and more than $1,400 on meals at famous restaurants in New York City.

Rep. Choi Min Hee of the Minjoo Party said in a dispatch that these expenses were made during a business trip to attend a United Nations General Assembly meeting where President Park Geun Hye delivered the keynote speech.

Choi revealed that Bang reportedly used his corporate credit card at the Woodbury Common Premium Outlets shopping mall on Sept. 27. Aside from that, the network head allegedly spent $930 for a caviar dinner on Sept. 24.