Yes, the route is normally Shanghai, China > Incheon, Korea (1 hr flight + 2-3 hours stop gap) > Anchorage, USA (7 hrs flight + 2-3 hrs stop gap) > Cologne, Germany (8 hrs flight).
My package was on this flight on 17/18 May from Shanghai to Germany, so you can check the activity log —
https://flightaware.com/live/flight/UPS87/history/20200517/2152Z/RKSI/PANC. It arrived in Germany at 6PM yesterday and it's now out for delivery since 9AM this morning.
If you don't live near Cologne, you might have to wait for delivery on the next day because the package would be flown using local or inter country passenger or cargo airlines to your nearest UPS hub.