fortune and misfortune; happiness and unhappiness
Refers to the pair of opposites: good and bad luck, or happiness and unhappiness, often in a philosophical or general context.
人生には幸不幸がつきものだ。
Fortune and misfortune are part of life.
Compound of 幸 (こう, 'happiness, fortune') and 不幸 (ふこう, 'unhappiness, misfortune'), forming a paired concept.