In a medium pot, cook the bacon over medium heat until the fat renders. Transfer the bacon to a paper towel to drain, reserving 2 tablespoons fat in the pot. Add the potatoes and onion and cook over medium-high heat, stirring often, for 3 minutes. Stir in the creamed corn, milk and 1 cup water and bring to a simmer. Add the salmon, lower the heat and simmer until the potatoes are tender and the salmon is cooked through, about 15 minutes.
Using a fork, break up the salmon into small chunks. Stir in the cooked bacon and season with salt and pepper.