What does Psalm 118 teach about salvation?

In Psalm 118, salvation is presented as a work of God, rooted in His goodness and mercy. The psalmist declares, 'The Lord hath chastened me sore, but he hath not given me over unto death' (Psalm 118:18), indicating that even through trials, God's intention is to save, not to destroy. The invocation of God's mercy underscores that salvation is not based on human merit but solely on God's gracious covenant with His people. It concludes with the proclamation that the stone the builders rejected has become the cornerstone, signifying Christ as the foundation of salvation for all believers.