Since I don't know the exact 'king of the palace story', it's hard to say for sure. But most likely, the king himself is a main character. There could also be his queen, if there is one in the story. And perhaps his advisers, servants, and noblemen who play important roles in the events that take place in the palace.
In the 'king of the palace story', the king is surely a main character. He is the center of power in the palace. Besides him, there might be a brave knight who serves the king loyally. This knight could be involved in protecting the king from threats both inside and outside the palace. Also, there could be a cunning jester who adds some humor to the story but might also be secretly involved in some palace intrigues. And don't forget the king's beautiful daughter, if it's that kind of story, who could be the cause of some romantic or political plots in the palace.
The main characters in the 'king of the palace story' could be diverse. The king is the obvious one. He might have a group of trusted councilors who help him govern. There could be a foreign diplomat who visits the palace, bringing with him new ideas and potential challenges. A young page, who is learning the ways of the palace, might also be a key character. He could be the eyes and ears of the lower classes in the palace and witness things that others overlook. And of course, there could be a mysterious figure, perhaps a wizard or a prophet, who has an influence on the king's decisions and the fate of the palace.