Let's look at the stats of this thing:

Is this a bartering ship ? No, because 12500LT max weight is terrible for that. In fact it's worse than all base carracks. Also mere 20 inventory slots don't work very well for that.

Is this a warship ? No, because 13 seconds cannon fire cooldown is terrible. A Valor carrack puts out 6 salvos on blue gear in the same time the Panokseon takes to fire 4, even it's base reload is much better. What use are the 2000 cannonballs then ? What use is the durability, which is best of all ships ?

Is this a trading ship ? Maybe, though you'll really need all of the sailor slots to get the maneuvering stats to a level that can compete with carracks. But, we're limited to 20 sailors max, do we really want to shift all of them between the Panokseon and our possible carracks ? And 20 cargo slots is also pretty poor for this purpose.

Let's look at the requirements:

Blueprint: panokseon x30	Complete the quest ‘[Weekly] Pirates Blocking’ from ‘Yuan’, the Wharf manager in Nampo Harbor. (When completed, obtain 2 blueprint: panokseon)
Wooden pegs soaked in saltwater x250	Obtained by defeating Small/Medium/Large Battleships in <Badabin Sea>
Finely Polished Pine Plywood x300	Exchange using 10 Joseon Currency at ‘Yuan’, the Wharf manager in Nampo Harbor
Glue containing traces of dark waves x200	Exchange for 500 Crow Coins at the Crow Coin Shop

The blueprints, ok, but a 15 weeks timegate ? Why ?

The Wooden Pegs, you will need a fairly good combat ship already to finish that within acceptable time and effort, improved frigate/galeass at the minimum.

The Plywood, no comment, as of yet I haven't researched how and where you get the required currency.

The Glue, are you NUTS ? 100000 crow coins ? That is an even worse timegate than the blueprints, and more or less requires a carrack to be done efficiently. You need less coins to build a carrack, and for the same 100k coins you can build two blue equipment pieces for that carrack.

So who is this ship for really ? Except for completionists that want to have it just to have it ?

My suggestions to fix the ship:

Give it 2,000,000 rations and 12 or 11 seconds reload time. That will make it a bartering option for staying out longer before having to resupply and an option for Croc hunts by being able to stay out longer than a Valor as well.

Heck, that might even make it a viable PvP ship, giving up the Valor's reload rate and Volante's speed for a heavy investment in focus fire sailors.

For no one, it's supposed to be an alternative to carrack, but it's so weak and so expensive that it's totally unprofitable.

6 sailors max since the captain's medallions are in IS. They have never been on sale and have never been given out in any event. Also you can't buy them in market either. And because we don't have regional prices adjusted to the purchasing power of a given country, many players don't even have the opportunity to buy them.

I think it was meant to be a ship between carracks and upgraded sailboats, i dont really mind the weeklies that much, but 100k Crow Coins it just a pain, they should cut that in half or more, since carrack is cheaper.

Korean Bias

 It's easy to obtain. Carrack is a reward for people who bartered/did dailies and it was a huge grind. Why do you think this ship should be better when it's so easy to obtain lmao...

Who is sea content for in the first place ?

the problem is it's price, 140kCC is something you need Carrack for unless you want to pain through it with with Caravel, I think instead of buffing the ship, its the price that should be reduced.

Actually, the OP just showed how much it is a pain in the ass to obtain......

The important question is, can this be listed on the Central Market?  Cause if I can buy this from other players instead of building a carrack I would.