In a medium saucepan, add a 1/2 tbsp of butter, the diced pepper, and corn. Sauté for a minute or so over medium-high heat, stirring to coat everything with the butter. Add in 3/4 cup of water and cook over medium-high heat for 8 to 10 minutes, stirring occasionally. After the corn has cooked through, add the remaining butter, cumin, and salt and cook over low heat for another couple of minutes. The corn should be a bright yellow and tender with a bit of chew to it. Serve hot.