WSDL-S defines a mechanism to annotate WSDL documents with semantic information. These semantic annotations are references to semantic concepts that define the meanings service operations and their inputs and outputs. Semantic annotations are defined by a set of WSDL extension elements and attributes and are not tied to any particular ontology representation language. WSDL-S enables the specification of Web services semantics to enable semi-automated discovery, compostion and mediation of Web services.
You can find the full text of the submission and a link to the related spec here.
It is hoped that the W3C will use the Submission as input to any pre-standarization activities that might be organized as part of the conclusions of the W3C Workshop on Frameworks for Semantics in Web Services.