Season oysters with salt and pepper on both sides. Place cornmeal in a medium bowl and season with salt and pepper. Dredge each oyster into the cornmeal and tap off any excess.
Heat 1 inch of oil in a large cast iron skillet until smoking. Fry oysters in batches until golden brown on both sides, about 1 minutes on each side.
Serve with the Red Chile Vinegar-Black Pepper Dipping Sauce on the side.
Bring the vinegar to a boil in medium non-reactive saucepan. Add the chilies, turn off the heat and let steep for 1 hour. Strain into a clean saucepan and bring to a simmer. Remove from the heat and whisk in the honey and pepper and season with salt, to taste. Serve at room temperature.