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The letter"K" has several uses in today's culture. Without knowing to which context you speak of, it is hard to know which use you mean. K is the abriviation for Kilometer, and is often heard in regards to running and marathons. A number with a lower case k after it is another use for "k". This means "thousands" of a number. For instance, 2k is 2,000. The exception to the number/letter k combination is 401(k), which is a type of retirement account.
Also, some people who are very lazy about writing things out will say "k" instead of "okay."
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