I have read about Sipalki Ion Bi Ryu in bullshido.net, from what I could find, it's a modern style based in Hapkido, it doesn't look nothing like the Shippalgi of the Muyedobotongji. It has the typical pre fabricated post occupation KMA story.
I found this videos in youtube:
This is how Hyungs must be performed????????????????
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YouTube - Examen sipalki
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And this is Yoo Soo Nam??????
Judging from the videos, it doesn't look like a very good martial art............