In a mixing bowl, add the beef, garlic, shallot, gochujang, ginger, sesame oil, and salt (as per amounts under meatballs section above). Stir to combine.
Create the meatballs by rolling a heaping tablespoon's amount of beef into a ball. They should be approximately an inch wide.
Add the vegetable oil to a large pan over medium heat. Once the oil is hot, add the meatballs (may take two rounds of cooking, adding oil each time). Cook the meatballs for 3 minutes, flipping once or twice during the cooking. The meatballs will be lightly browned.
Transfer the meatballs to a paper towel to allow them to rest (and the oil to soak into the paper towel).
Make the sauce
Use the same pan as used for meatballs. Reduce the heat to medium, then add the garlic and ginger. Cook, stirring often, until the spices are aromatic (30 seconds to one minute).
Add the ketchup, light brown sugar, rice vinegar, gochujang, sesame oil, and cayenne pepper (based on the portions under sauce section above). Stir well.
Bring to a quick boil, then reduce heat to low and simmer the sauce for 3 to 4 minutes.
Finishing the Korean meatballs
Add the meatballs back to the pan with the sauce and cook, stirring often, for 4 to 5 minutes.
Serve immediately, sprinkling toasted sesame seeds on top as garnish.