I think its more driven by the costs of raising a child is not affordable so people opt to not have one.
Seems like he is right
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Private education spending hits all-time high despite falling number of students
Koreans' total spending on private education hit an all-time high in 2024, as parents spared no expenses for their children to survive in the pervasive competition that shows no signs of letting up despite a population decline, government data showed, Thursday.www.koreatimes.co.kr
I keep telling people, its economics, economics, economics, Korea suffers from very low wage growth and productivity, basically Korea stalled since The Amazing Dictator park was killed in 1979, practically almost zero growth if you take inflation into account