Whisk egg yolk, chili-garlic sauce, rice vinegar, sea salt, and black pepper together in a bowl. Pour in 3 tablespoons oil slowly, whisking constantly, until sauce is creamy.
Whisk ice water, flour, and egg yolk together in a large bowl to make batter.
Heat 1 tablespoon olive oil in a large skillet over medium heat. Dip some shrimp in batter, letting excess drip off, and cook in hot oil until browned on both sides, 3 to 5 minutes. Drain on paper towels. Repeat with remaining olive oil and shrimp.
Place cooked shrimp in a large bowl. Pour sauce on top and mix until thoroughly coated.
Substitute white wine vinegar for the rice vinegar if desired.
The sauce in this recipe contains raw egg. We recommend that pregnant women, young children, the elderly, and the infirm do not consume raw egg. Learn more about egg safety from our article, Making Your Eggs Safe.