Archive

April 4, 2025

Browsing

In this exclusive StockCharts video, Joe Rabil shows you how to use the ADX on monthly and weekly charts to find stocks with massive breakout potential. Joe walks you through several examples of stocks and ETFs that broke out of an extended period of trading sideways. He also discusses the recent stock market correction and where the SPY and QQQ are trading with respect to the support of moving averages.

This video was originally published on April 2, 2025. Click this link to watch on Joe’s dedicated page.

With the S&P 500 and Nasdaq dropping quickly after this week’s tariff announcements, investors are scrambling to identify areas of the market demonstrating strength despite broad market weakness.  The good news is that I was able to easily find strong charts with improving relative strength using the StockCharts platform.

As much as it feels like “everything is down” after Wednesday’s news on increased tariffs on a vast number of products, a quick review of the S&P 500 MarketCarpet on Thursday afternoon provides a quick reminder that plenty of stocks were actually trading higher into the afternoon.

Let’s review two stocks and one ETF demonstrating strength in recent weeks.  And if you’re looking for more potential ideas, perhaps review my Top Ten Charts to Watch for April 2025 with Grayson Roze!

Kroger Co. (KR)

When the economy is strong, and consumer confidence is high, we often see a surge in “things you want” such as travel and luxury goods.  During periods of economic weakness, those Consumer Discretionary names will struggle relative to “things you need” like cleaning products, household goods, and beverages.  So it’s not surprising that our first two charts are in the Consumer Staples sector!

Indeed, the chart of Kroger has a “long and strong” look to it, featuring a consistent pattern of higher highs and higher lows since the October 2024 breakout.  

Two pullbacks in March saw Kroger achieve a higher low above the 50-day moving average, confirming that buyers are coming into “buy the dips” and push the stock to new highs.  The most impressive feature of this chart is the steady uptrend in the relative strength.  As long as that series remains trending higher, it means Kroger provides an opportunity to do better than our struggling benchmarks.

Keurig Dr Pepper Inc (KDP)

Back in October 2024, Keurig Dr Pepper saw a series of downside gaps on disappointing earnings results.  I’ve highlighted these gaps with shaded areas so we can see how often these price ranges have come into play during subsequent price action.

We can see that KDP struggled to regain the lower price gap range late last year, with the 200-day moving average also serving as resistance during that period.  Then in February we finally saw a break above the 200-day before KDP eventually found resistance at the upper price gap from last October.  From late February through early April, Keurig Dr Pepper has basically traded between these two price zones, with the most recent upswing taking the stock back up to test the upper price gap range.

Similar to Kroger, I would say the most compelling piece of this chart is the improving relative strength.  If most stocks are in primary uptrends, then perhaps KDP does not look nearly as impressive.  But with Magnificent 7 stocks and other growth names pounding out clear distribution phases, the chart of Keurig Dr Pepper could provide an opportunity to outperform.

Utilities Select Sector SPDR Fund (XLU)

Now let’s consider utilities, a sector which is usually bucketed with other defensive groups yet has actually traded along with growth sectors at times over the last 12 months.  The reason for this shift has been partly due to the incredible energy needs of artificial intelligence, cryptocurrency mining, and other enterprises requiring heavy computer power.

The price structure of the XLU is fairly neutral at the moment, with this ETF basically stuck in a trading range since the 4th quarter of 2024.  But with most S&P 500 names trading below their 200-day moving averages, I’m immediately drawn to charts that remain above this long-term trend barometer.  The XLU has actually successfully tested the 200-day moving average three times in 2025, all resulting in short-term rallies.

The question here is whether the XLU can gain enough momentum to push above a clear resistance level around $82.  But even that does not actually come to pass, a chart remaining in a sideways trend could provide an easy way to ride out a period where the major benchmarks are losing value.  And given the higher-than-average dividend yield along with decent price action, the utilities sector seems like it deserves a second look.

Both KR and KDP were featured in our Top Ten Charts to Watch for April 2025, which you can access below!

RR#6,

Dave

PS- Ready to upgrade your investment process?  Check out my free behavioral investing course!

David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice.  The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.  

The author does not have a position in mentioned securities at the time of publication.    Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

Perth, Australia (ABN Newswire) – Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to announce that the Company showcased it’s CERENERGY(R) Battery technology at the prestigious Hannover Messe 2025, the world’s leading industrial trade fair. The event, which annually attracts over 200,000 visitors and 6,500 exhibitors from across the globe, provided Altech with a prime platform to introduce CERENERGY(R) to key stakeholders in the energy storage sector.

Altech’s CERENERGY(R) was prominently featured in the Energy Storage Hall, drawing significant attention from industry leaders, potential partners, and investors eager to explore next-generation solutions for clean energy storage. The company’s participation is part of a broader strategic effort to secure a strong commercial partner to help accelerate the commercialization of its sodium-alumina solid-state battery technology.

Throughout the event, Altech held numerous high-level meetings with representatives from energy companies, industrial manufacturers, and strategic investors looking to tap into the rapidly growing energy storage market. The response has been overwhelmingly positive, reflecting strong global demand for advanced battery technologies that can deliver high performance while reducing reliance on critical raw materials such as lithium and cobalt.

The Hannover Messe exhibition comes at a time when Germany is ramping up its defense and clean energy investments, driven in part by growing geopolitical uncertainties and the ongoing EU:US trade war. With energy security becoming a top priority, Altech’s CERENERGY(R) technology aligns perfectly with Europe’s strategic push towards energy independence and industrial resilience.

Group Managing Director Iggy Tan said ‘We are delighted by the level of interest in our CERENERGY(R) battery technology at Hannover Messe. The feedback we’ve received from potential partners and industry players has been extremely encouraging. As countries and industries accelerate their transition towards renewable energy, we see CERENERGY(R) as a game-changer in providing cost-effective, safe, and sustainable battery solutions.’

*To view photographs, please visit:
https://abnnewswire.net/lnk/8J6TA5ZV

About Altech Batteries Ltd:  

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS (‘Fraunhofer’) to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech’s land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

Source:
Altech Batteries Ltd

Contact:
Corporate
Iggy Tan
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

News Provided by ABN Newswire via QuoteMedia

This post appeared first on investingnews.com

The lithium market faced continued pressure in Q1 2025 as oversupply and weaker-than-expected demand pushed prices to a four-year low, with the lithium carbonate CIF North Asia price dipping below US$9,550 per metric ton.

The broad market decline led many analysts to speculate that the market had bottomed and a rebound was imminent. This was further supported by production cuts in China and Australia aimed at stabilizing supply.

Despite near-term challenges, long-term prospects remain strong, highlighted by Rio Tinto’s (ASX:RIO,NYSE:RIO,LSE:RIO) AU$6.7 billion acquisition of Arcadium Lithium, the company formed by the merger of Allkem and Livent.

The major is also reportedly in talks to develop the Roche Dure lithium deposit in the Democratic Republic of Congo.

Long term electric vehicle (EV) market growth and a projected draw down in excess supply has prompted Benchmark Intelligence researchers to forecast a 12 percent compound annual growth rate for the lithium market over the next 10 years.

All lithium stocks listed had market caps above $20 million in their respective currencies when data was gathered. Data for Canadian stocks was collected on March 25, 2025, data for Australian stocks was gathered on March 27, 2025, and data for US stocks was gathered on March 31, 2025.

Top Canadian lithium stocks

1. Power Metals (TSXV:PWM)

Company Profile

Year-to-date gain: 163.04 percent
Market cap: C$196.57 million
Share price: C$1.21

Exploration company Power Metals holds a portfolio of diversified assets in Ontario and Québec, Canada. The company’s flagship Case Lake project in Ontario hosts spodumene-bearing lithium-cesium-tantalum pegmatites.

In November 2024, Power Metals identified a new pegmatite zone at Case Lake through soil sampling. The samples from the zone, located north-northwest of its West Joe prospect, revealed anomalous levels of cesium, tantalum, lithium and rubidium, which the company said ‘affirmed prospective drill targets’ for its winter exploration program.

On February 10, Power Metals announced the beginning of work associated with the maiden mineral resource estimate and preliminary economic assessment for Case Lake, which it expected to release in Q1 and Q2 of 2025 respectively.

Days later, on February 14, the company followed that announcement by releasing the final assays from its Phase 3 drilling at Case Lake, including “exceptional cesium oxide and tantalum intercepts” from the West Joe prospect. Power Metals stated it planned to begin its 2025 Phase 1 drilling sometime after early March.

The company’s share price rose in the weeks following the pair of announcements to reach a Q1 high of C$1.46 on February 25.

2. NOA Lithium Brines (TSXV:NOAL)

Company Profile

Year-to-date gain: 41.18 percent
Market cap: C$46.99 million
Share price: C$0.36

NOA is a lithium exploration and development company with three projects in Argentina’s Lithium Triangle region. The company’s flagship Rio Grande project and prospective Arizaro and Salinas Grandes land packages total more than 140,000 hectares.

In late January, NOA reported its completion of 28 vertical electrical sounding geophysics tests at the Rio Grande project as part of its 2025 exploration program.

The recent testing expands on past studies and will aid NOA’s water exploration program, refining one of three identified potential water sources.

In a subsequent corporate update on February 7, NOA outlined its plans for Q1 2025, which largely focused on the advancement of the Rio Grande project through geophysical evaluation and water exploration drilling. The company also plans to review engineering proposals for preliminary economic assessment work.

The company’s share price began climbing in early February and reached a Q1 high of C$0.37 on March 13.

The high came days after a Simply Wall Street report highlighted insider buying at the company, a signal of strong internal confidence.

According to the report, NOA insiders invested C$862,600 over the prior six months, with C$358,000 of that coming in a single transaction by CEO and Director Gabriel Rubacha. Additionally, they had not sold any shares in the prior 12 months.

3. Frontier Lithium (TSXV:FL)

Press ReleasesCompany Profile

Year-to-date gain: 35.56 percent
Market cap: C$141.38 million
Share price: C$0.61

Pre-production mining company Frontier Lithium aims to be a strategic and integrated supplier of premium spodumene concentrates as well as battery-grade lithium salts in North America.

The Company’s flagship PAK lithium project, which is a joint venture with Mitsubishi (TSE:8058), holds the “largest land position and resource” in a premium lithium mineral district located in the Great Lakes region of Ontario, Canada. Frontier also owns the Spark deposit, located northwest of the PAK project.

Shares of Frontier Lithium reached a Q1 high of C$0.79 on March 4. After already trending upwards through February, its share price peaked alongside news that the Government of Canada and the Ontario Government supported the company’s plans to build a critical minerals refinery in Northern Ontario.

Once complete the proposed lithium conversion facility will process lithium from PAK into around 20,000 metric tons (MT) of lithium salts per year. “This expected capacity would support the production of batteries for approximately 500,000 electric vehicles per year,” Frontier’s statement reads.

Top Australian lithium stocks

1. Tyranna Resources (ASX:TYX)

Company Profile

Year-to-date gain: 40 percent
Market cap: AU$23.02 million
Share price: AU$0.007

Africa-focused explorer Tyranna Resources is currently focused on its flagship Muvero lithium project in Angola.

In a January 30 update, Tyranna reported it completed a drill program totalling 11 diamond drill holes spanning 817 meters. Initial results from drilling at the Muvero and Loop prospects confirmed visible spodumene-bearing pegmatite. Additionally, core from the Muvero prospect will be used for metallurgical testing and structural data.

The company is also pursuing and evaluating additional projects that align with its strategy of focusing on in-demand metals, and had applied for one licence at that time.

Shares of Tyranna reached a quarterly high of AU$0.007 several times over the three month period.

2. Liontown Resources (LTR:AU)

Company Profile

Year-to-date gain: 24.53 percent
Market cap: AU$1.58 billion
Share price: AU$0.66

Liontown Resources has two assets in Western Australia, including the producing Kathleen Valley mine, which entered production during the second half of 2024 and transitioned to commercial production in January 2025.

The company’s Buldania project in the Eastern Goldfields Province of Western Australia has an initial mineral resource of 15 million MT at 1.0 percent lithium oxide.

In its fiscal H1 2025 financial update, Liontown reported that over 100,000 wet metric tons of spodumene concentrate had been shipped from Kathleen Valley between July and the end of December.

Liontown’s shares rose to a Q1 high of AU$0.735 on March 19, 2025, shortly after the release of the half year results.

3. Delta Lithium (ASX:DLI)

Year-to-date gain: 9.09 percent
Market cap: AU$125.39 million
Share price: AU$0.18

Delta Lithium is a diversified exploration and development company focused on discovering high quality, lithium bearing pegmatite deposits in Western Australia.

Currently, Delta is developing the Mount Ida gold and lithium project, which reportedly has a JORC-compliant resource of 14.6 million MT grading 1.2 percent. Additionally, the company is exploring its Yinnetharra lithium project, including the Malinda deposit, in the Upper Gascoyne Region.

Company shares registered a Q1 high of AU$0.20 on January 14.

On January 21, Delta released an exploration update for Yinnetharra that highlighted drilling and metallurgical results from the M1 pegmatite at the Malinda deposit.

“The program has realised highly positive metallurgical results, with pilot plant spodumene recoveries exceeding our Internal financial modelling and proving the whole-of-ore flotation flowsheet as suitable for the M1 mineralogy,” Managing Director James Croser said.

In a subsequent financial statement, Delta noted the submission of the mining lease application for the Malinda mining area and the commencement of Native Title negotiations. The company is also advancing its environmental permitting process at Malinda.

Top US Lithium Stocks

1. SQM (NYSE:SQM)

Company Profile

Year-to-date gain: 9.29 percent
Market cap: AU$11.36 billion
Share price: US$40.23

SQM is one of the world’s largest lithium producers with projects in South America and China, outputting both lithium carbonate and hydroxide.

In 2024, SQM produced approximately 210,000 MT of lithium, with about 180,000 MT sourced from its chemical plant in northern Chile and an additional 30,000 MT processed in China.

The lithium major also saw lithium sales increase 21 percent year-over-year to nearly 205,000 MT of lithium carbonate equivalent (LCE).

“However, the increase in volume was not enough to offset the continuous decline in prices, a trend we have been observing since early 2023,” the 2024 earnings report noted. “As a result, our average realized price dropped by more than 64 percent, from US$30,467 per ton in 2023 to US$10,936 per ton in 2024.”

Shares of SQM reached a Q1 high of US$45.61 on March 17, 2025.

In late February, SQM’s US$7 million investment in Andrada Mining’s (LSE:ATM,OTCQB:ATMTF)Lithium Ridge project received final approval from the Namibian government. The deal will see SQM obtain a 30 percent stake in the project with an option to increase to 50 percent.

FAQs for investing in lithium

How much lithium is on Earth?

While we don’t know how much total lithium is on Earth, the US Geological Survey estimates that global reserves of lithium stand at 22 billion metric tons. Of that, 9.2 billion MT are located in Chile, and 5.7 billion MT are in Australia.

Where is lithium mined?

Lithium is mined throughout the world, but the two countries that produce the most are Australia and Chile. Australia’s lithium comes from primarily hard-rock deposits, while Chile’s comes from lithium brines. Chile is part of the Lithium Triangle alongside Argentina and Bolivia, although those two countries have a lower annual output.

Rounding out the top five lithium-producing countries behind Australia and Chile are China, Argentina and Brazil.

What is lithium used for?

Lithium has many uses, including the lithium-ion batteries that power electric vehicles, smartphones and other tech, as well as pharmaceuticals, ceramics, grease, lubricants and heat-resistant glass. Still, it is largely the electric vehicle industry that is boosting demand.

How to invest in lithium?

Those looking to get into the lithium market have many options when it comes to how to invest in lithium.

Lithium stocks like those mentioned above could be a good option for investors interested in the space. If you’re looking to diversify instead of focusing on one stock, there is the Global X Lithium & Battery Tech ETF (NYSE:LIT), an exchange-traded fund (ETF) focused on the metal. Experienced investors can also look at lithium futures.

Unlike many commodities, investors cannot physically hold lithium due to its dangerous properties.

How to buy lithium stocks?

Through the use of a broker or an investing service such as an app, investors can purchase lithium stocks and ETFs that match their investing outlook.

Before buying a lithium stock, potential investors should take time to research the companies they’re considering; they should also decide how many shares will be purchased, and what price they are willing to pay. With many options on the market, it’s critical to complete due diligence before making any investment decisions.

It’s also important for investors to keep their goals in mind when choosing their investing method. There are many factors to consider when choosing a broker, as well as when looking at investing apps — a few of these include the broker or app’s reputation, their fee structure and investment style.

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Galan Lithium (ASX:GLN) has rejected a US$150 million (AU$240 million) cash bid from China’s Zhejiang Huayou Cobalt Co and France’s Renault Group to acquire its Hombre Muerto West and Candelas lithium brine projects in Argentina, The West Australian reports.

Described as unsolicited, conditional, and non-binding, the offer from battery materials giant Zhejiang Huayou and EV manufacturer Renault was deemed “opportunistic” and “undervalued,” the report noted.

Galan and its advisors refused the offer, asserting confidence in the long-term value of its flagship Hombre Muerto West project, which is nearing production of 5,400 tonnes per annum (tpa) of lithium carbonate equivalent. They believe the project holds greater potential to deliver superior returns for shareholders.

Read the full study here.

Click here to connect with Galan Lithium (ASX:GLN) for an Investor Presentation

This post appeared first on investingnews.com

Jim Thorne, chief market strategist at Wellington-Altus, discusses which assets investors should focus on in today’s tumultuous environment.

He sees promise in gold and silver, as well as Bitcoin and the artificial intelligence sector.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

In the Pacific island nation of Samoa, residents have been grappling with rolling blackouts for weeks that have plunged villages into darkness and caused major disruptions to businesses and daily life.

On Upolu, the nation’s most populous island frequented by tourists for its white sand beaches, some have reverted to using kerosene lamps at night and are struggling to keep their food frozen – as rolling power outages leave them without electricity for hours each day.

Shelley Burich, who lives on the outskirts of the capital, Apia, said the power has been out at her place one to two nights each week, forcing them to use solar torches, lanterns and candles.

“It’s just about having dinner early and we go to bed early” she said. “We’ve just learnt to adapt and cope.”

Prime Minister Fiamē Naomi Mataʻafa declared a 30-day state of emergency on Monday, acknowledging the “significant hardship” the crisis has had on households, businesses and essential services.

Power outages are not unusual for Samoa’s 215,000 population, who often face disruptions from cyclones churning through the Pacific. But it’s rare to see island-wide blackouts reoccur over such long periods of time as has been seen in recent weeks.

Officials say there are a multitude of reasons: mechanical failures at a power station, faulty underground cables, extensive damage from a recent storm and the significant surge in demand for power over the past two years.

Fiamē said the government’s power provider, the Electric Power Corporation, has had to introduce power rationing on Upolu since March 16 after three key generators failed.

Meanwhile, power workers are racing to repair the cable lines and five large electricity generators are expected to arrive on Saturday as a temporary solution, with permanent generators expected in August.

An economic ‘disaster’

The prime minister warned the crisis could result in a 16% drop in gross domestic product (GDP), the broadest measure of economic output, this year due to the “severe disruptions.”

Chamber of Commerce President Fa’aso’otauloa Sam Saili called the power situation a “disaster” for businesses. And it’s not just the missed days of productivity.

“The damage in equipment is very significant. 84% of our membership have identified this as a major issue,” Fa’aso’otauloa said, which could leave businesses idle for long periods while waiting for repair or replacement.

Many of the country’s major manufacturers and producers have been left grappling with failing key machinery, which were damaged by power surges during the sudden and unexpected power cuts, he said.

Fa’aso’otauloa said businesses urged the government to impose the state of emergency to allow greater economic support and called for the removal of “red tape” and tariffs on key equipment to help manufacturers amid the crisis.

The economy is heavily reliant on agriculture with coconut products, forestry and fisheries among the largest export earners.

Businesses have also been forced to temporarily close because of the outages.

“Everyone is affected,” said Gary, a manager at a restaurant in Apia. “We’ve had to turn (customers) away more than once. Since the power interruptions began, we have had to close three times.”

The restaurant is fortunate to have a generator on site, but even so, the costs to operate it have more than doubled since the power cuts began.

It’s not just the cost of running the generator, suppliers are putting up their prices too, he said, calling the costs “quite significant.”

Finance Minister Lautimuia Uelese Vaaio said the state of emergency would allow Samoa’s development partners to assist with the situation. It also allows the government to implement measures to manage the energy supply, protect public health, and maintain essential services, said Prime Minister Fiamē.

Learning to adapt

The impact has hit everyone – from ordinary citizens to small businesses, schools, universities and large-scale infrastructure projects. Despite the growing frustrations, many say they have learned to adapt.

“The first few weeks were quite difficult,” said Leilani Fruean, the manager of a local ice cream shop, called Scoops, in Apia. The shop has had to purchase deep freezers, also known as chest freezers, to keep serving cones.

Fruean said the shop now has a permanent power connection, by sheer luck of being close to the wharf, which has been prioritized for power. Even so, it’s been hard to predict how each day will go.

“We can’t really afford to close, especially after Covid and everything,” she said. “We really try to open. Not just for us, but for our employees as well – just because the power is off doesn’t mean they don’t need money.”

The rolling power cuts have also led to panic buying of candles, flashlights and lamps – leading to price gouging in some areas, according to local outlet, the Samoan Observer. Candle prices had surged to 25 Samoan Tālā ($8) – more than half a day’s pay for a minimum wage earner, the outlet said.

A general store in Apia called Indoors doesn’t sell candles but sales representative Neci Lemo said they had “sold out of everything battery operated,” when asked about the demand for lighting.

Like everyone, Lemo is frequently dealing with the power being out at home.

“You just have to be smart,” she said, adding that it has been easier to plan for powerless days since authorities have begun issuing public warnings.

This post appeared first on cnn.com

South Korea’s highest court has removed embattled President Yoon Suk Yeol from office, ending months of uncertainty and legal wrangling after he briefly declared martial law in December and plunged the nation into political turmoil.

The court’s decision on Friday marks Yoon’s formal dismissal from the presidency after parliament voted to impeach him in December. His removal takes effect immediately, and he must now leave the presidential residence.

The long-running crisis has left a major global economy and key US ally rudderless at a fraught moment in world affairs, especially as US President Donald Trump’s “America First” agenda upends decades of foreign policy norms and dismantles the global trading system.

The Constitutional Court’s eight justices unanimously ruled to uphold Yoon’s impeachment.

Moon Hyung-bae, the court’s acting head judge, said Yoon’s martial law decree was unconstitutional as there was no grave national crisis at the time and his reasons for declaring it “cannot be justified.”

The president had violated the formal process of declaring martial law, infringed on lawmakers’ rights, and violated his duty as head of the armed forces by forcing soldiers to confront the public, the judge added.

In a separate criminal trial, Yoon was arrested in January on charges of leading an insurrection, then released in March after a court canceled his arrest warrant – though it did not drop his charges.

The verdict was met with mixed reactions across the South Korean capital.

Yoon’s opponents exploded in celebration and jubilation outside the court, waving flags and dancing to music. Many had been afraid that if he were reinstated, he could declare martial law again. But the mood was more still and somber outside Yoon’s official residence where his conservative supporters had gathered.

The issue has been hugely divisive, with major crowds taking to the streets both for and against Yoon’s removal. Police ramped up security in the capital ahead of the verdict, setting up barriers and checkpoints, and warning against any violence.

It’s a remarkable fall from grace for the former prosecutor-turned-politician, who rose to prominence for his role in the impeachment and imprisonment of another president years ago – only to now meet the same fate.

What happens now?

Under South Korean law, a general election to choose a new president must be held within 60 days of Yoon’s removal.

One potential candidate for the country’s next president is opposition leader Lee Jae-myung, a former lawyer and lawmaker who narrowly lost to Yoon in the 2022 presidential election.

Meanwhile, Yoon is still dogged by other legal proceedings, including his insurrection trial. It’s one of the few criminal charges a president does not have immunity from – and is punishable by life imprisonment or death, although South Korea has not executed anyone in decades.

The indictment had alleged that Yoon’s imposition of martial law – during which he sent troops to parliament, with commanders testifying they were ordered to “drag out” lawmakers – was an illegal attempt to shut down the National Assembly and arrest politicians and election authorities.

Yoon has said his decree was justified by political deadlock and threats from “anti-state forces” sympathetic to North Korea, and was intended as a temporary warning to the liberal opposition. He claimed that he always planned to respect lawmakers’ will if they voted to lift the decree.

In the end, his decree only lasted six hours. Yoon reversed the declaration after lawmakers forced their way into parliament and voted unanimously to block it – beginning four months of political disarray, during which parliament also voted to impeach the prime minister and acting president.

Fall from grace

Before taking office in 2022, Yoon was a star prosecutor and a key figure in the sweeping investigation of South Korea’s last impeached president, Park Geun-hye. Park was removed from office in 2017 and sentenced to prison for corruption and abuse of power in 2018.

Yoon is now the second president to be ousted by the Constitutional Court – and the shortest-serving elected leader in the nation’s democratic history.

The swift series of events marks a dramatic decline for Yoon, who was once touted as a key ally by former US President Joe Biden. During a White House state dinner in 2023, Yoon stood as the honored guest and sung Don McLean’s “American Pie” to a delighted audience.

Yoon’s serenade was meant to showcase his easy rapport with Washington, reinforcing Seoul’s strategic ties with the US. His critics, however, saw the moment as an odd distraction from pressing domestic concerns.

Back home, he clashed fiercely with the opposition, who overwhelmingly won midterm elections and used parliament to impeach key cabinet members and hold up legislation. It was this gridlock that Yoon used to try to justify his fateful decree.

This is a developing story and will be updated.

This post appeared first on cnn.com

Declaring martial law in a stable and boisterous democracy was an audacious gamble – and one that backfired spectacularly for former South Korean President Yoon Suk Yeol.

With Friday’s guilty impeachment verdict from the country’s Constitutional Court, the former prosecutor and conservative firebrand’s political career is likely over, especially because Yoon still faces criminal charges that could land him in prison for life.

Dramatic scenes from South Korea one Tuesday night in December showed military helicopters landing near the National Assembly in the capital Seoul, soldiers breaking through windows to try to prevent lawmakers from gathering, and protesters confronting riot police.

But the declaration was unsuccessful. TV stations and news media continued to report unhindered, people traveled freely and there were no mass arrests. When lawmakers voted to overturn Yoon’s surprise decree, security forces backed away.

In the months since, life in the South Korean capital essentially returned to normal. Businesses and restaurants were busy, streets crowded with residents and the city’s usual throngs of tourists – though large, loud demonstrations for and against Yoon were frequent as the court considered his case.

At one rally in the capital shortly after Yoon’s late-night declaration, teacher Kyung-soo said Yoon’s attacks on his opponents – including calling them “communist forces” – were “the behavior of a dictator and clearly clashes with the wishes of the people.”

Two years ago, Yoon was serenading then United States President Joe Biden with a rendition of “American Pie” by Don McLean at a White House state dinner and toasting their “ironclad” relationship.

As a nation still tries to understand why Yoon chose the extreme option of martial law, many are relieved that the fiasco may well be remembered as when democracy was threatened in South Korea, but ultimately survived.

Who is Yoon, and what was he thinking?

Yoon, a political newcomer, took office in 2022 with the conservative People Power Party, winning the presidential election by a margin of less than 1%.

He had spent almost 30 years as a prosecutor, leading high-profile investigations into corruption scandals that included a graft probe against former President Park Geun-hye that led to her impeachment and landed her in prison.

On the campaign trail, Yoon appealed to the country’s growing anti-feminist movement, and committed to abolishing the Ministry of Gender Equality and Family, which he claimed is unfair to men.

And while his predecessor Moon Jae-in favored dialogue with North Korea, Yoon took a tougher stance, promising to bulk up the South’s military, and even hinting he would launch a preemptive strike if he saw signs of a launch against Seoul.

In office, Yoon clashed fiercely with the opposition. Last year, opposition parties overwhelmingly won elections seen as a referendum on Yoon’s rule and took control of the National Assembly.

This left him a lame-duck president prevented from moving forward on legislation to cut taxes and ease business regulations, as his main rivals in the Democratic Party used parliament to impeach key cabinet members and hold up a budget bill.

It was this gridlock that Yoon used to try to justify his fateful decree.

In his speech declaring martial law, he labeled the opposition’s actions “clear anti-state behavior aimed at inciting rebellion” and referenced “threats posed by North Korea’s communist forces,” vowing to “eliminate anti-state elements.”

While Yoon had previously “claimed to advocate for fairness and common sense” as president, “his words and actions reflect a dictator’s,” said Park Sung-min, analyst at Min Consulting in Seoul.

“It seems like a political suicide.”

But Yoon’s eventual decision to rescind the decree showed he was “not a man who’s trying to seize power, or create a second term, or prolong his rule,” said Sydney Seiler, senior adviser for the Center for Strategic and International Studies.

“From the ruling party’s perspective, (he’s) trying to get the ball moving. He probably thought he had much more support within the ruling party for his actions than he actually did.”

Designer handbag at center of controversy

Observers say Yoon’s decision to declare martial law may have been more self-serving.

After taking office, he faced plummeting approval ratings over economic issues and a series of scandals involving his wife and political appointments that prompted calls for him to resign.

First Lady Kim Keon Hee was accused in 2023 of accepting a $2,200 Christian Dior bag as a gift – a potential violation of anti-graft laws. A secretly filmed video that surfaced online purported to show Kim receiving a cloud-blue “Lady Dior Pouch” from a Korean-American pastor.

The first lady is no stranger to controversy. Over the past few years, she has apologized for resumé-padding and has faced allegations ranging from academic plagiarism to stock manipulation, which the presidential office has repeatedly denied.

The main opposition Democratic Party accused Yoon of “concealing suspicions” surrounding his wife, and the mounting public backlash even caused a rift between Yoon and senior members of his party.

“Yoon tends to act more on instinct than rationality, embodying a reckless ‘lonely hero’ persona,” said Ahn Byung-jin, professor at the global academy for future civilizations at Kyung Hee University.

“He perceives the current situation as an existential crisis, especially with attempts to impeach members of his cabinet, cut the budget, and push for special investigations against his wife. He believes he is seriously cornered.”

What comes next for Yoon?

Yoon is now the second president to be ousted by the Constitutional Court – and the shortest-serving elected leader in the nation’s democratic history.

And his legal troubles are not over. In a separate case, Yoon was arrested in January on charges of leading an insurrection, then released in March after a court canceled his arrest warrant – though it did not drop the charges.

Insurrection is one of the few criminal charges a president does not have immunity from – and is punishable by life imprisonment or death, although South Korea has not executed anyone in decades.

The indictment had alleged that Yoon’s imposition of martial law – during which he sent troops to parliament, with commanders testifying they were ordered to “drag out” lawmakers – was an illegal attempt to shut down the National Assembly and arrest politicians and election authorities.

For some South Koreans, such as pastor Kwak Dong-seok, Yoon has worked to address economic issues, and is correct in his claims of “anti-state” forces in the country.

“Martial law is often criticized as excessive, but in some cases, it has been justified as a measure to prevent the establishment of a communist regime,” said Kwak, who organizes regular conservative rallies and political activities.

But others say Yoon’s decision shows how far removed he was from public sentiment.

“Korean democracy started late, but we made it by ourselves and are very proud of it,” said school principal Kim Hyeon. Yoon’s attempt at martial law demonstrates that “the president’s way of thinking doesn’t match our society,” she said.

Many say the botched martial law and subsequent democratic proceedings show that South Korean democracy is alive and well.

“Korean democracy has the awareness and capability to prevent any impulsive actions by a dictator,” said Park from Min Consulting.

This post appeared first on cnn.com