Since the remarkable work of Pierre Bourdieu, the concept of cultural capital has gained wide popularity along with theoretical and conceptual debates. This trend represents the social-structural change from materialism to postmaterialism. However, there are few empirical studies which find the cause and effect of cultural capital. Based on empirical survey data, this paper will analyze "how cultural capital and cultural divide influence the subjective well-being at the individual level." Our analysis includes the following: First, we explore to what extent the cultural divide between haves and have-nots of cultural capital has impacted their subjective well-being, which consists of happiness and life satisfaction at the individual level. Second, we analyze what factors cause those cultural divides. Sociodemographic, social-relational, and economic variables are included in the regression models to test their relative explanatory power. Third, we discuss the implication for cultural policy.