Heat oil in a skillet over medium low heat, add the onions and chili flakes; stir-fry for 30 seconds. Add kimchi and baby anchovies and cook for another 2 minutes.
Add 1 cup of water, tofu, oyster, soy sauce, dubanjang, oyster sauce, cornstarch, and chili; stir well and let them boil for 3-4 minutes over medium heat or until the oysters are fully cooked.
Mix cornstarch in 2 tablespoon of water and pour into the skillet. Cook one more minute to thicken the sauce slightly. Serve hot over rice.