Samsung has in the past patented a Smart Ring -or connected ring- several times and the manufacturer even registered the Galaxy Ring trademark at the beginning of the year, confirming that such a project is in development.
Ring Support option in Samsung Health app
The latest clue to this project was spotted by a Reddit user (via SamMobile), in beta version 6.24.1.023 of Samsung's Health app. There is a list of options, one of which is called Ring Support, or Ring Compatibility. No other details appear, but we can deduce that the application will be able to connect to this famous Samsung Galaxy Ring which will be unveiled soon.
However, it could also simply be a question of allowing the connection of rings of the kind already existing from other manufacturers, so patience is in order before drawing too hasty conclusions.