• 良好りょうこう — good / favorable
• 良心りょうしん — conscience
• 優良ゆうりょう — excellent
• 改良かいりょう — improvement
• 良質りょうしつ — good quality
• 善良ぜんりょう — virtuous / good-natured
• 良好りょうこうな関係かんけい — good relationship
• 良よい — good / fine / okay

良 is widely used to express positive quality and virtue. You’ll see it in compounds for improvement, excellence, and moral goodness (改良, 優良, 良心).