This study examined the influences of demographic variables, parent-adolescent conversation time, and open communication on the positive psychological capital of adolescents. The data were collected from 243 middle school students living in Gwangju from December 23, 2019, to January 3, 2020. Data were analyzed using correlation analysis, and hierarchical regression analysis. The results can be summarized as follows. First, with economic condition, academic achievement, parent-adolescent conversation time, and open communication, positive psychological capital showed significant difference statistically. Second, father-adolescent open communication best explained positive psychological capital, followed by academic achievement, and mother-adolescent open communication. The results highlight the important roles played by parent-adolescent open communication and academic achievement in improving adolescents’positive psychological capital. The study contributes to the literature by providing fundamental insights into adolescents’positive psychological capital.