Dragon King Palace is a mythical place rumored to exist among fishermen. The legend goes that if one catches a fish that originated from the palace, good luck and fortune will pour into the person's life. While it may sound like an old superstition, there is possibly some merit in the existence of such a place. It was stated in Guldove that the Dragonians built other ruins similar to Fort Dragonia, but as in the year 1020 A.D, the aforementioned fort was the only one to still stand. This somewhat raises the possibility of the Dragon King Palace legend stemming from an actual Dragonian fort built around the El Nido Triangle.
In the Japanese version, the fisherman in Arni Village asks if you think the sawfish is a giant oarfish, which is literally named "messenger of the dragon palace" in Japanese. This fish's striking appearance and relative rarity led to the Japanese people creating many myths and legends surrounding it, including the belief that catching one in your net was a good omen that preceded a bountiful catch. The fisherman's line may be merely referencing this cultural context as opposed to hinting to the existence of an actual dragon palace.