The announcement was made as President Lee Jae Myung visited San Francisco for talks with the heads of major US technology companies, including OpenAI CEO Sam Altman and Nvidia's Jensen Huang.

In the United States, Boring Company runs the Vegas Loop in Las Vegas, Nevada, which began transporting passengers in 2021.

President Lee's push to make South Korea a central player in the global AI supply chain comes as demand for chips and computing infrastructure outpaces supply, driving tech companies into closer partnerships with the country's semiconductor and memory leaders.

The European Commission on Thursday fined Google 890 million euros (US$1 billion) for breaching the Digital Markets Act (DMA), the bloc's landmark law policing the conduct of dominant online platforms.

The levies, effective Friday, range from 10 percent to 12.5 percent and impact major economies like China, India and the European Union.

The submarine cable system reinforces Batam’s position as a digital hub, connecting Indonesia and Singapore to global markets.

Red Sea attacks, slow Hormuz transit and crude oil loading suspension tighten supply, push up prices.

Goldman Sachs said Brent might exceed $120 a barrel in the fourth quarter and average $100 next year if the strait remains disrupted through 2027.

Brent crude futures rose 2 percent to US$96 per barrel in early trading after the US launched a new round of strikes on Iran and Yemen's Houthis targeted oil tankers in the Red Sea.

Enthusiasm for tech shares boosted Asian stocks for a second day Wednesday, as more mayhem in the Middle East lifted Brent crude back above US$92 a barrel and the yen came under renewed pressure.