Place corned beef in a dutch oven and add water to cover. Cover tightly and simmer for 3 to 4 hours or until the meat is tender. Shortly before serving, heat oil in a large skillet over medium high heat. Add cabbage and red pepper, stir-fry for 5 minutes. Reduce heat to medium low, cover and continue cooking 5 minutes. Stir sugar, vinegar, caraway seeds and salt into cabbage and continue cooking and stirring for 2 minutes. Place brisket, fat side up, on a broiler-safe serving platter so the surface of the meat is 3 to 4 inches from the heat. Brush melted jelly over brisket, broil 5 minutes or until the brisket is glazed. Carve the brisket diagonally across the grain into thin slices and serve with cabbage. Makes 10 servings. Note: If desired, potatoes and carrots can be added to the corned beef during the last half-hour of simmering. Reserve the briskey cooking liquid to make split pea soup later. strain cooled broth, the chill it. Remove fat that hardens at surface and use defatted stock in the soup.