By Max Bernhard 
 

Deutsche Post AG (DPW.XE) said Tuesday that its DHL Express unit plans to invest 131 million euros ($144.4 million) in the expansion of a gateway near South Korea's Incheon International Airport.

"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 U.S. by 2023, this gateway expansion will create the foundation for e-commerce businesses to expand both locally and across the Asia Pacific region," said Byungkoo Han, country manager of DHL Express Korea.

Completion of the expansion is expected for the second quarter in 2022, the company said.

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

October 15, 2019 10:57 ET (14:57 GMT)