The governing board said head coach Jae Su Chun and assistant coach Jun Hyung Yeo resigned Thursday as part of a settlement following allegations they had knowledge of U.S. skater Simon Cho's tampering with a Canadian skater's skate at the 2011 World Team Championships and failed to report the incident, the Chicago Tribune reported Friday.
The settlement also involves suspensions for the coaches through the 2014 Winter Olympics.
Cho admitted to the tampering last week and U.S. Speedskating said disciplinary proceedings against the skater are now under way.
"We believe reaching a settlement is in the best interest of our athletes and the organization as a whole so that we can move past this quickly and focus on the season and the Games in 2014," U.S. Speedskating spokesperson Tamara Castellano said.
Notable deaths of 2014 [PHOTOS]