In a skillet over medium heat, pour in enough oil to cover the surface of the skillet.
If your tteokbokki/rice cakes are frozen, soak it in hot water for 5 minutes. If it's not frozen, you can proceed with the next step.
Once hot enough, add the tteokbokki/rice cakes and leave it to cook until the bottom turns golden brown. Flip/stir occasionally until both sides turn golden brown (about 10 minutes).
Add all the ingredients for the sauce in a bowl and mix well. Add more water if you want a looser sauce.
Transfer the tteokbokki/rice cakes to a serving plate.
In the same skillet, fry eggs to desire (we like runny fried eggs). Use a spatula to place fried eggs over rice cakes.
Drizzle the sauce on top or serve on the side. Add more chili oil on top and garnish with green onions and sesame seeds.
Enjoy!