A wearable device (201,301,401,1001), comprising: an outer housing (210,310,410) including a first surface facing a first direction, a second surface facing a second direction opposite to the first direction, and a side surface surrounding a space between the first surface and the second surface, wherein a metal frame (210a,310a,410a) is formed on at least a portion of the side surface; a display (220,320,420) wherein at least a portion of which is exposed through the first surface of the outer housing (210,310,410); a printed circuit board, PCB, (230,330,430) interposed between the second surface and the display (220,320,420) in an interior of the outer housing (210,310,410); a communication circuit disposed on the PCB; and a ground area (232,332,432) provided in the PCB, wherein the metal frame (210a,310a,410a) is electrically connected to the communication circuit at a first point (211,311,411) of the metal frame (210a,310a,410a) and is selectively connected to the ground area (232,332,432) at a second point (212,312,412) of the metal frame (210a,310a,410a), and wherein the communication circuit is configured to: transmit and/or receive a signal in a first frequency band by a first electrical path formed if the second point (212,312,412) is not connected to the ground area (232,332,432); and transmit and/or receive a signal in a second frequency band by a second electrical path formed if the second point (212,312,412) is connected to the ground area (232,332,432), characterized in that the metal frame (210a, 310a, 410a) has a closed loop shape in which the side surface is not partitioned. an outer housing (210,310,410) including a first surface facing a first direction, a second surface facing a second direction opposite to the first direction, and a side surface surrounding a space between the first surface and the second surface, wherein a metal frame (210a,310a,410a) is formed on at least a portion of the side surface; a display (220,320,420) wherein at least a portion of which is exposed through the first surface of the outer housing (210,310,410); a printed circuit board, PCB, (230,330,430) interposed between the second surface and the display (220,320,420) in an interior of the outer housing (210,310,410); a communication circuit disposed on the PCB; and a ground area (232,332,432) provided in the PCB, wherein the metal frame (210a,310a,410a) is electrically connected to the communication circuit at a first point (211,311,411) of the metal frame (210a,310a,410a) and is selectively connected to the ground area (232,332,432) at a second point (212,312,412) of the metal frame (210a,310a,410a), and wherein the communication circuit is configured to: transmit and/or receive a signal in a first frequency band by a first electrical path formed if the second point (212,312,412) is not connected to the ground area (232,332,432); and transmit and/or receive a signal in a second frequency band by a second electrical path formed if the second point (212,312,412) is connected to the ground area (232,332,432), transmit and/or receive a signal in a first frequency band by a first electrical path formed if the second point (212,312,412) is not connected to the ground area (232,332,432); and transmit and/or receive a signal in a second frequency band by a second electrical path formed if the second point (212,312,412) is connected to the ground area (232,332,432), characterized in that the metal frame (210a, 310a, 410a) has a closed loop shape in which the side surface is not partitioned.