Several parts combine into one character.

福 is a phonetic-semantic compound: 示 (altar) + 畐 (fú, a pictograph of a wine vessel filled to the brim — providing both sound and meaning). The composite reads as "abundance brought to the altar / the altar receiving full vessels" = blessing, fortune, happiness. The character shares the phonetic and conceptual root with 富 (fù, wealth) — both characters carry the image of brimming abundance, with 富 emphasizing material wealth and 福 emphasizing divine blessing. 福 is one of the most beloved characters in CJK calligraphy, painted on red paper for New Year decorations.

Korean reading "bok." 幸福 (haengbok, happiness — universal Korean abstract noun), 祝福 (chukbok, blessing — Christian Korean uses heavily for divine blessing), 萬福 (manbok, "ten-thousand blessings" — used in formal greetings: 만복하소서), 五福 (obok, "five blessings" — the classical Confucian list of blessings: longevity, wealth, health, virtue, peaceful death). The character 福 in calligraphic form is hung in Korean homes during New Year for good fortune.

Mandarin fú, 2nd tone. 福 (fú), 幸福 (xìngfú, happiness), 福气 (fúqi, "blessing-energy" = good fortune / lucky), 福建省 (Fújiàn Shěng, Fujian Province on China's southeast coast). Chinese New Year culture features the famous 福 character calligraphy hung upside down on doors during 春节 (Spring Festival): 福倒了 (fú dào le, "the fortune-character is upside down") sounds identical to 福到了 (fú dào le, "fortune has arrived") — a homophone pun that turned an inverted calligraphy into a New Year tradition.

Japanese on-reading フク (fuku) — 幸福 (kōfuku, happiness), 福利 (fukuri, welfare / benefits), 福音 (fukuin, "blessing-sound" = the gospel — Christian Bible translation), 七福神 (Shichifukujin, "Seven Lucky Gods" — Japan's syncretic group of seven deities of fortune: 恵比寿 Ebisu, 大黒 Daikoku, 弁財天 Benzaiten, 毘沙門 Bishamon, 寿老人 Jurōjin, 福禄寿 Fukurokuju, 布袋 Hotei — visited at New Year for blessings). The 福袋 (fukubukuro, "lucky bag") is the Japanese New Year retail tradition where stores sell mystery grab bags of merchandise.

Memory aid: altar (示) plus brimming wine vessel (畐) — abundance presented at the altar = blessing.