Prepare your ingredients: Clean and slice 250g squid into rings roughly 1-1.5cm thick. Pat dry thoroughly with paper towel. Roughly chop 1/2 cup cabbage and 1/3 cup onion. Cut 2 tbsp scallion white parts into 2-3cm lengths. Mince 1 tbsp garlic. Measure out all sauce ingredients and set aside.
Start cooking: Heat 2 tbsp cooking oil in a large wide pan over medium-high heat. Add 250g squid, 1/2 cup cabbage, 1/3 cup onion, 2 tbsp scallion and 1 tbsp garlic all at once.
Add the sauce: Pour in 1 tbsp gochujang, 1 tbsp light soy sauce, 1/2 tbsp sugar, 2 tbsp gochugaru and 2/3 cup water. Stir well to combine and break up any clumps of gochujang. Place the lid on firmly and bring to a boil over medium-high heat.
Simmer with the lid on: Reduce heat to medium and simmer with the lid on for 5-7 minutes. At the 5-7 minute mark lift the lid, give everything a thorough stir scraping along the bottom of the pan, then replace the lid and cook for another 2-3 minutes. If the sauce reduces too quickly add 2-3 tbsp water and continue cooking.
Final stir and finish: Once the sauce is thick, glossy and clings to the squid and vegetables, turn off the heat. Give everything one final thorough stir until fully coated.
Garnish and serve: Scatter chopped green and red chilli or capsicum over the top. Sprinkle white sesame seeds over everything. Drizzle sesame oil generously over the top. Serve immediately with steamed white rice.