PEK
quite
İYİ
1good, 2fine
"pek iyi" literally means "pretty good" though it is nowadays less common compared to the former decades. its evolved form "peki" has been more common for several decades but it means "alright"
OLMAK
1to be, 2to become, 3to happen,to take place, 4to occur, 5to fit, 6to be suitable, 7TO BE ACCEPTABLE, 8to go well, 9to be completed, to be successfully done |and some more
ol + ur (present simple tense) + - (personal ending)
>olur
1it does be (sounds weird in English)
2it becomes
3it happens,
4it occurs
5it fits
6it suits
7IT IS OKAY, IT IS ACCEPTABLE
in other Turkic languages such as Kazakh, Kyrgyz, Uzbek, you can hear "olar", it's again the simple present conjugation of the "olmak" verb.
In Turkish of Turkey, "olur" and "tamam" are the synonyms. both mean "okay"
the new generations have also started to use "ok" and "okey" directly loaning from English