As a member of the Yahoo Fictionwise group I received the following details by email from another member who lives in Korea who had contacted the Nuut company to get more information:
At this time the device will only be offered for sale in Korea. It supports the Korean language, English, Japanese, and some traditional Chinese characters and may support some European characters. The device is designed to utilize the same drm that is used throughout Korea. The only outside format it accepts at this time is .txt. There are 3 font sizes and the ones shown on the website are the middle font size. At this time they will not be preparing the device for overseas sales. They have a lot of work to do before they are ready for that.
Apparently the parent company is an exporter of e-ink technology.