Tongin Market Tteokbokki (Spicy Rice Cakes)

In Korea, tteokbokki (tek-boke-i) is prepared in many varieties. A common street food option consists of rice cakes floating in a sweet and spicy sauce made with corn syrup and gochujang (Korean chili paste). This dish, which is only served at one particular market in Seoul, was the simplest and tastiest I've ever tasted - crunchy on the outside and chewy on the inside. Tteokbokki rice cakes can be found in Korean markets; they are the size of a thumb. Indeed, there is no substitute for gochugar (Korean ground chili). It is more tart and much less pungent than many other types of chili peppers.
Bring a large pot of water to a boil. Add the rice cakes; cook for 2 minutes or just until the rice cakes float. Drain and rinse well with cold water. Drain the water.Place the rice cakes in a medium bowl. Add the chili, soy sauce, sugar, and sesame oil; let stand at room temperature for 15 minutes, stirring occasionally.Preheat a large nonstick skillet over medium-high heat. Add the canola oil to the pan; stir to coat. Add the rice cake mixture; simmer for 5 minutes or until the rice cakes are crisp and evenly bubbled, stirring frequently.