The King is an Amarr prisoner who lives in the dark swamps near on a Minmatar prison colony. Some time ago he escaped the prison and went into hiding in a nearby jungle, where he currently ekes out a spooky sort of living.
There is palpable fear and awe of him in the prison camp. He has come to an unspoken understanding with the guards at the camp, so that prisoners who find favor with him are spared the harshest treatment in the camp.
The catch on the prisoners' end, though, is that anyone who seeks his favor must first realize the King exists at all - a challenge to many - after which they must accept the chaos of the camp, and finally enter the jungle to seek out the King out. The King himself views this as him giving faith to the prisoners. Prisoner 47 is a typical example of someone who was lost and then realized he was found, in the fold of the King.