So you could say that hankido means: The way for Korean people to develop their internal energy/strength. Of course hankido is not just for Koreans, foreigners all over the world practice this martial art and benefit from it.
Hankido is a relatively new hapkido style, developed by the late Myung Jae Nam. Myung Jae Nam studied traditional hapkido with Ji Han Jae which formed the basis of this new art. Traditional hapkido consisted of over 3000 techniques, but Myung's students asked for more, something that could be a never ending subject for their martial arts study. With this, Myung Jae Nam, after consulting a Japanese aikido practitioner, came up with his own style based on both aikido and hapkido. It is also said that because Korean people did not like their Japanese neighbours very much, that Myung Jae Nam decided to give the art of aikido a Korean name and change it into something that would suit the Korean mentality better. Myung Jae Nam did have connections with the Japanese Aikikai and wrote a book in which he explains both aikido and hapkido techniques. The book also features a picture of Morihei Ueshiba (the founder of aikido). In this book you can see many of the modern hankido techniques in a somewhat rough form. During the 1970's he was the official representative in Korea for the Aikikai.
Myung Jae Nam started the development of what we now know as hankido in the 1980s. This new hapkido style can be recognized by its elegant, circular movements which the hankido practitioner uses to get in control of his or her opponent. Of course this is partly due to the fact that hankido has its roots partly in aikido, but also due to the fact that Myung Jae Nam, who was a talented dancer, mixed the techniques with traditional Korean dance. This part of hankido is called: Moo Yae Do Bub (무예도법).
Hankido was first officially introduced during the 1st International H.K.D Games in Seoul, South-Korea. The development of hankido did not stop there, and in the years after its introduction hankido lost some of its rough edges. Myung Jae Nam toured Europe and the United States to promote his new art until his death in 1999. During the 3rd edition of these games, Myung Jae Nam introduced another art, called hankumdo.
Hankido and hapkido

The difference between hapkido and hankido is that hankido is much more an internal art where hapkido is a semi-internal art. In hankido the principles of Won (圓), Yu (流), and Hwa (和) are much more visible in the application of the techniques, even to the extent where people wonder if these principles are truly understood by practitioners of traditional hapkido. The use of these principles is much more emphasized in hankido.
To give the hankido practitioner more insight into these principles, there are three exercises they can practice, the Sam Dae Wolly (삼대원리). The name of the exercise representing the circle-principle is called Jeon Hwan Bub (전환법). The name for the exercise of the flow-principle is called Young Nyu Bub (역류법) and the last exercise, representing the heart-principle, is called Shim Hwa Bub (심화법). This last one is also referred to as the rowing exercise.
The difference between aikido and hankido is that hankido finishes techniques off, whereas aikido (usually) lets the attacker go. Hankido practitioners also have to learn a lot of kicks, as you would expect from a Korean martial art.
Techniques
Another unique aspect of hankido is that it consists of twelve basic self-defense techniques (ho shin ki, 호신기) which are connected to 24 breathing techniques: twelve for the defender called 'Techniques of the Sky' (Chun Ki Bub, 천기법, 天氣法) and twelve techniques for the attacker called 'Techniques of the Earth' (Ji Ki Bub, 지기법, 地氣法). Heaven and Earth are each others opposites and thus resemble the Chinese Um (Yin) and Yang.
Of course there is more to hankido than just these twelve circle techniques, but these form the stable basis for every hankido practitioner. It is better to train one technique a thousand times than practice a thousand techniques only once.