HONG KONG, Nov 19 (Reuters) - South Korean health and beauty chain CJ Olive Young said on Friday it was looking to raise around $1 billion in an initial public offering, as the company seeks to tap a booming market for new listings. The listing, which two sources aware of the matter say is set to take place early next year, comes as Korean IPOs have raised $21.4 billion so far this year, almost seven times the amount raised a year earlier, according to Refinitiv data. CJ Olive Young has appointed Mirae Asset Securities and Morgan Stanley as the main underwriters on the transaction while KB Securities and Credit Suisse will act as co-underwriters, a spokesperson told Reuters. A $1 billion fundraising, slated for early next year, would be double the amount the company was expected to raise, according to some bankers. Mirae Asset Securities (006800.KS), Credit Suisse (CSGN.S) and Morgan Stanley (MS.N) declined to comment to Reuters. KB Securities did not immediately respond to a request for comment. CJ Olive Young has about 1,200 stores across South Korea, and delivers its products through a global distribution platform to 150 countries, according to its website. It reported operating profit of 100 billion won ($84.4 million) in 2020, the company"s filing showed. The largest shareholder is CJ Corp (001040.KS) with a 55.24% stake as of December 2020, the company"s filing showed. So far this year, 92 companies have listed in Korea compared with 59 last year, driven by robust retail demand, Refinitiv data shows. read more E-commerce firm Coupang Inc raised $4.5 billion when it listed in New York in March ,while video game developer Krafton Inc (259960.KS) raised $3.7 billion in its July listing in Seoul.