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In a soup pot, melt 1 tablespoon of the butter over medium-high heat. Add in the diced ham and cook until the edges are golden brown and caramelized. Transfer to a plate and set aside.
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Melt the remaining 3 tablespoons of butter over medium-low heat and add the onion, garlic, and red bell pepper. Sauté until the vegetables are aromatic and the onion turns translucent, about 3-4 minutes. Season generously with salt and pepper.
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Sprinkle the flour over the vegetables and stir to combine. Cook for 1 minute before stirring in the chicken stock.
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Add the potatoes, parmesan rind, grated carrot, corn, thyme, and cayenne pepper. Give it a good stir, turn the heat to low, and let the soup simmer for about 15 minutes, or until the potatoes are tender.
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Stir in the cream and taste – add salt and pepper if needed.
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Serve the soup topped with parmesan and herb of choice (or a mix!) and enjoy!