basket
栳 centers on a basket, specifically a type of container. The meaning is narrow and concrete, with no clear abstract extensions.
栳 combines 木 (tree/wood) with 老, which likely contributes the sound. The exact historical development is uncertain, but the structure suggests a phono-semantic compound where 木 indicates the material (wood) and 老 hints at the reading.
The left side is 木 (tree/wood), and the right side is 老 (old). Picture an old wooden basket woven from tree branches: 栳 is a basket.
For コウ, imagine an old wooden basket that is so well-made it could be a 工 (こう, craft) masterpiece: 工 -> コウ, and the basket is crafted from wood.
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