The most common and most likely answer to this crossword clue is the 5 letter word HENRY
I've seen this crossword clue in Financial Times
H
E
N
R
Y
More clues leading to the result HENRY
Buddy explains!

The straight part
We know that "King" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case king = henry.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does HENRY mean?
HENRY noun- In the International System of Units, the derived unit of electrical inductance; the inductance induced in a circuit by a rate of change of current of one ampere per second and a resulting electromotive force of one volt. Symbol: H
- A turd.
- A quantity of marijuana weighing one-eighth of an ounce.