Add the butter and diced red pepper into a dutch oven and saute over medium-heat for 5 minutes. Add in the diced potatoes, corn, chicken stock, and milk. Cook on medium-heat until for at least 30 minutes or until the potatoes are tender. Add salt and pepper, to taste.
If you are using a slow cooker, add all of the ingredients into your slow cooker and cook on high for 4 hours or on low for 8 hours.