Step 1: Heat olive oil in a large Dutch oven or heavy-bottomed pot over medium-high heat. Brown the beef stew meat in batches, ensuring not to overcrowd the pot. Cook until browned on all sides, then remove with a slotted spoon and set aside.
Step 2: Reduce heat to medium. Add chopped onion, carrots, and celery to the pot. Sauté for 5-7 minutes, until softened, scraping up any browned bits from the bottom of the pot.
Step 3: Stir in the minced garlic and cook for another minute until fragrant.
Step 4: Return the browned beef to the pot. Pour in the beef broth and add the undrained diced tomatoes. Stir in the dried thyme and bay leaf. Bring the mixture to a boil.
Step 5: Once boiling, reduce the heat to low, cover, and simmer for 1 hour, or until the beef is tender.
Step 6: Add the cubed potatoes to the pot. Continue to simmer for another 20-30 minutes, or until the potatoes are tender.
Step 7: Stir in the frozen peas and corn. Cook for 5 minutes, or until heated through.
Step 8: Remove the bay leaf. Season the soup with salt and freshly ground black pepper to taste. Ladle into bowls, garnish with fresh chopped parsley, and serve hot.