執

It is an ideogrammatic compound combining:

㚔 — representing handcuffs;

丮 — depicting the image of a prisoner being dragged away while bound in handcuffs.

Later, 㚔 changed into 幸 (다행 행 “fortunate”), and 丮 changed into 丸 (둥글 환 “round”), resulting in the current form of the character.