This paper analyzes the distribution of Net Nominal Positions (NNP) of households in Korea and the United States and the effects of unexpected inflation shocks. The analysis reveals that in Korea, a majority of households hold positive (+) NNPs, making them highly susceptible to losses from an inflation shock, whereas in the U.S., approximately half of households hold negative (-) positions, indicating a relatively higher likelihood of benefiting from such shocks. This divergence is particularly pronounced among young households (under age 45) and is attributable to structural differences in assets and liabilities: a high proportion of rental security deposits (jeonse) among Korean youth versus a significant share of mortgage and student loan debt among U.S. youth. A simulation using a Heterogeneous Agent model demonstrates that, due to differences in NNPs and the Marginal Propensity to Consume (MPC), the Fisher channel operates asymmetrically; consequently, consumption by Korean households shows negligible change, while consumption by U.S. households may increase slightly. This finding serves as one factor explaining the robust consumption observed in the U.S. following the COVID-19 pandemic. Therefore, an integrated policy approach is needed to facilitate the early accumulation of real assets and expand access to financial and income hedging instruments for young Korean households vulnerable to inflation.