- 15 October 2019
- Transport / Logistics Services
DHL Express has agreed a €131 million investment to expand its gateway in South Korea with Incheon International Airport. This will be its largest investment in the country to date.
John Pearson, CEO, DHL Express said, “Our quality and speed are crucial for our customers and the main pillars of our growth around the world. Our new investment, the largest one for South Korea so far, helps to connect the world even more and to further improve transit time of global trade and on the trade lanes to Asia.”
Ken Lee, CEO, DHL Express Asia Pacific said, “Our Incheon Gateway occupies a vital strategic position along key routes between South Korea and countries like Singapore, Taiwan, Hong Kong and China – all of which are amongst our top ten inbound and outbound markets by express delivery volume. With online retail sales in Asia Pacific expected to reach US$2.5 trillion by 2023, our latest investments in the Incheon Gateway will align our infrastructure to what Asia’s e-commerce generation needs for now and tomorrow.”
The new investment at Gateway adds to around €30 million already committed to the project. DHL Express Gateway at Incheon Airport opened in 2008, and this has seen a growth of more than 45% in volumes of parcels from both global and intra-regional trade. The new investment is for the longer term growth in capacity with plans for demand growth until 2032. When fully operational it will be 58,700 square metres, up from 20,000 square metres. The hub will also have the latest sorting and parcel handling technology.
ByungKoo Han, Country Manager of DHL Express Korea said: “The expansion plan is an important milestone for us and testifies to our long-term commitment to South Korea. With one of the world’s highest rates of online shopping, and its trajectory to become the world’s third-largest e-commerce market after China and the United States by 2023, this Gateway expansion will create the foundation for e-commerce businesses to expand both locally and across the Asia Pacific region.”