Seoul-based Korean Air Lines Co. has won preliminary approval to set up an US$65m venture with three other partners in China. The airline will spend US$16.25m on a 25 percent stake in the venture, named Galaxy International. Sinotrans Air Tranportation Development Co. will invest US$33.15m for a 51 percent stake, while the rest will be shared by investment fi rms Hana Capital and Shilan Capital.