Posted: Tue., Mar. 18, 1997, 11:00pm PT

SOUTH KOREA

Playboy to launch June 15

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Playboy Enterprises has formed a partnership with Daewoo Corp. to launch a Playboy TV network in South Korea on June 15.

The 24-hour network will initially be offered in hotels with plans to deliver it via cable and direct-to-home satellite service shortly thereafter. Daewoo will control an 85% stake in the venture with Playboy holding a 15% stake --- the highest equity position a foreign company can take.