Several parts combine into one character.

向 draws a window (口) in the wall of a house (宀) — originally a north-facing skylight. From which way the window faced grew "to face, direction, side." The direction of a window opened in a house is 向.

Korean hanja-sound "hyang": 方向 (banghyang, direction), 向上 (hyangsang, improvement), 傾向 (gyeonghyang, tendency), 趣向 (chwihyang, taste), 意向 (uihyang, intention), 動向 (donghyang, trend). With 方 (direction) seen earlier it forms 方向 (direction).

Mandarin: xiàng, 4th tone. 方向 (fāngxiàng, direction), 向前 (xiàngqián, forward), 一向 (yíxiàng, all along), 向往 (xiàngwǎng, to yearn for), 偏向 (piānxiàng, bias). It also works as a preposition "toward, to" — 向他学习 (to learn from him).

Japanese: on-reading コウ (kō), kun む.く (muku), む.かう (mukau), む.こう (mukō). 方向 (hōkō, direction), 向上 (kōjō, improvement), 傾向 (keikō, tendency), 向く (muku, to face), 向こう (mukō, the other side). 向かう (mukau, to head toward) is a daily Japanese essential.

Memory aid: a window (口) opened in a house (宀) and the way it faces — the direction the window points.