Shin Hyun-sung, Governor of the Bank of Korea, stated at a press conference in Seoul that changes in population structure are one of the most important long-term challenges central banks face. ^[1] Researchers from Sejong University, the Bank of Korea, and the CEPR presented a study at a joint conference with the OECD regarding population aging and longevity. ^[2] The researchers estimated that if the top 15% of households reduced private tutoring spending by 10%, the average number of children for women born between 1970 and 1975 would rise from 1.92 to 2.45. ^[3] Shin Hyun-sung explained that the Bank of Korea must focus its capacity on researching structural issues like population changes. ^[4] Shin Hyun-sung remarked that what is happening in Korea today is a preview of what other countries will face soon. ^[5] Households in the bottom 20% of income spent 8.4% of their income on private tutoring, compared to 5.1% for households in the top 20%. ^[6] The researchers proposed a policy alternative of taxing private tutoring spending by high-income households to fund birth incentives without requiring large fiscal outlays. ^[7] The joint conference was hosted by the Bank of Korea, the European Centre for Economic Policy Research (CEPR), and the OECD with the theme 'Economics of Aging and Longevity'. ^[8]