Myanmar and South Korean companies will cooperate in manufacturing cosmetics and LED bulbs in the Southeast Asian country, official media reported Saturday.

According to a memorandum of understanding signed here Friday, the Long Luck Group of Companies of Myanmar and HANBAEK ITC Co., Ltd. of South Korea will also join hands to offer beauty courses and wedding services and launch a waste to energy project, said the New Light of Myanmar.

Official statistics show South Korean investment in Myanmar amounted to 2.979 billion US dollars in 77 projects as of March this year, accounting for 7.07 percent of the total registered in the country and ranking the 4th in Myanmar's foreign investment line-up.

Bilateral trade between the two countries reached 573.4 million US dollars in 2012, of which Myanmar's export accounted for 237. 58 million dollars.