Combine Tocino and water in a pan. Boil and simmer for 20 minutes. Discard water and thoroughly washed the tocino. Drain and cut into bite sized pieces and set a side.
Combine soy sauce, sugar, ground black pepper, ketchup and sesame oil. Pour sauce over the tocino and mix. Marinate for 15 minutes.
Heat oil over low heat and add the onion. Cover the pan and let it caramelized and set a side.
Toss in the carrot and sauté for 5 minutes. Add the garlic and sauté for another 5 minutes.
Turn theheat to high and add the marinated meat together with the sauce. Continue tossing until the meat caramelized with slight dark edges.
Toss the onion and season with salt. Serve with hot steamed rice.