In a large skillet over medium heat, cook the chopped bacon until crispy, about 5-7 minutes. Remove the bacon from the skillet and set aside, leaving the drippings in the pan.
Add the butter to the skillet with the bacon drippings. Once melted, add the chopped onion and diced red bell pepper. Sauté for about 5 minutes, or until the vegetables are softened.
Stir in the minced garlic and cook for an additional 1 minute until fragrant.
Add the corn kernels to the skillet, along with the salt, black pepper, and smoked paprika. Cook for about 8-10 minutes, stirring occasionally, until the corn is tender and slightly caramelized.
Return the crispy bacon to the skillet and mix well. Cook for another minute to heat through.
Remove from heat and garnish with fresh parsley before serving.