I don't think so.
This is an interline connection and the CA counter @ ICN probably won't be able to print the boarding pass for the CO flight. Will have to see.
However the baggage will be thru-checked.

An hour and a half for transfer at PEK is pretty tight for their standard (CA recommends 3hrs for PEK transfers) but if CA or CO allowed that ticket to be sold, it should be OK.