Excerpt from customwoolenmills.com article

Why are wool socks so good at keeping you comfortable? Wool has a tremendous capability of keeping you warm even if your socks are wet from sweat or outside moisture. In fact, it acts like a wetsuit. The moisture that is next to your skin becomes warm and helps to keep your feet at a comfortable temperature. Not only that, but wool socks will also wick away excessive moisture and allow it to move through the socks and away from your feet. We already knew these great properties of wool, but Mors took them and our socks a few steps further.

Contrary to what your best judgment and common sense might tell you, Mors recommends that you walk in your wool socks only, and without outer footwear if you have an emergency during the winter where your feet have been submerged in water. By leaving your boots on, there is no way for the water to escape, and it slowly makes your feet cold, or even frozen and frostbitten. By taking them off, however, the water will drain out of your wool socks and it will be wicked away by snow. The small moisture remaining will warm up to your body temperature and act as a wetsuit. In these conditions, Mors is actually wearing 3 pairs of wool socks, and the outer socks will start to freeze and form a "boot", while the inner pairs will keep you comfortable.

...Q - What’s your favourite survival story?

Mors - Well a good local story is that of a remote acquaintance of mine had. He had been out hunting and wasn’t paying attention. The next thing he knew it was dark and he was disorientated. He realised he couldn’t go any further, so he lit a fire but puts his matches naked into his pocket. His buddies miss him and drive to where they think he’s hunting and fire shots into the air, but they leave their engine running so they can’t hear his shots in reply over the engine noise. He assumes they must have heard his shots because they have stopped shooting. So he puts out his fire and heads in the direction of the shots he heard. He eventually comes to the place where his friends had lost patience and gone home because they couldn’t hear him. But now at least he has their tracks to follow. It’s incredibly cold and he tries to light another fire, but the first fire has melted the frost in his clothing so he is now damp and the matches he carelessly put in his pocket are now damp, the heads have gone soft so he was unable to light a second fire. He made it back by following the tracks but he lost his toes in the process. [color:"#666666"]He didn’t know he should take off his wet boots and walk in his wool socks.[/color] He didn’t know he shouldn’t carry matches in his pocket. His buddies didn’t know they should turn their engine off, they assumed they would hear gunshots over the engine. A little knowledge there would have saved him a lot of suffering.

That’s a good local story...