Cut the pork belly strips into bite-sized chunks, about 1–2 cm thick across each strip. Dice the red bell pepper into small 1 cm pieces.
Lightly bruise the lemongrass and the ginger by pressing them with the flat side of a knife. This helps release their fragrance more effectively during cooking.
Set a wok over medium-low heat and add the pork belly pieces without oil. Cook gently, stirring every few minutes, until the pork renders its fat and develops an even golden-brown color, about 20 minutes. Transfer the browned pork to a bowl.
Using the same wok without washing it, add the brown sugar, dark soy sauce, and fish sauce. Stir until the sugar has dissolved and the mixture starts to bubble.
Add the star anise and dried chili peppers to the bubbling sauce. Stir for about 30 seconds so the spices can infuse the liquid.
Return the browned pork to the wok, then add the diced red bell pepper, bruised lemongrass, grated ginger, and MSG. Pour in enough water to cover the pork by roughly 5–6 mm, or about 1/4 inch.
Raise the heat to medium and let the mixture cook at a steady boil for 45–50 minutes. Stir from time to time to promote even cooking and prevent sticking.
Continue cooking until the liquid has reduced substantially and forms a thick, shiny coating over the pork. Once the meat is tender and well glazed, remove the wok from the heat and serve immediately.