Season ribs with salt and five spice seasoning. Make sure to coat all sides and rub it in. Turn on 6-quart (or larger) Instant Pot to sauté setting. Pour oil into the bottom of the insert.
Once the Instant Pot shows "Hot", start adding in the ribs (two at a time) and brown each side (about 3-4 minutes per side.)
Remove browned ribs, set aside and continue browning the rest of the ribs. Add in additional oil, if necessary.
If adding rice (optional):
You'll need a small, round, heat-safe, pressure-safe insert that fits into your Instant Pot. I am using one of my springform inserts that I lined with nonstick aluminum foil so it doesn't leak. Pour in water and rice into insert and gently stir.
Once all the ribs are browned, turn off the Instant Pot. Carefully remove any excess oil from the bottom of the insert. Then place all the ribs into the bottom of the pot. Pour half the bottle of Korean BBQ sauce over the top of the ribs.
If just cooking ribs alone, skip this step. Otherwise, place rice insert right on top of ribs. Make sure there is enough room around the sides of the insert or the Instant Pot won't come to pressure.
To pressure cook:
Cover Instant Pot and make sure lid is in locked position. Turn the valve on the top to "Sealing."
Press the "Pressure Cook" button, high pressure, and set for 25 minutes. It will take about 10 minutes to come up to pressure. After it has finished cooking, allow the pressure to naturally release for 15 minutes.
Then switch the valve to "venting" to release the rest of the pressure. The float valve will drop, letting you know it is safe to open the lid.
The rice should be perfectly cooked. Just fluff it with a fork. It will be slightly orange because of the BBQ sauce that has made its way to the top of the pot from the steam.
Carefully remove the insert (careful, it's super hot.)
Final step (optional):
Line a baking sheet with nonstick aluminum foil. Carefully place ribs onto sheet. Turn on your oven to the high "Broil" setting.
Pour the rest of the Korean BBQ sauce over the ribs. Making sure they are coated well.
Place the baking sheet directly under the broiler for a couple of minutes (sauce will be bubbly on top.)