Established in 1998, the Internet Corporation for Assigned Names and Numbers (ICANN) is a private corporation that illustrates how the Internet and electronic commerce are giving rise to new forms of global governance. ICANN regulates the assignment of domain names and Internet Protocol (IP) addresses used to identify and interconnect Internet users. This chapter examines issues of power, institutions, and participation in the context of ICANN. It looks at South Korea’s involvement in ICANN and shows how the organization has been dominated by Western countries (led by the United States) and transnational firms (such as intellectual property interests) at the expense of the developing countries and transitional economies, dubbed the “rest of the world” (ROW). The agenda and demands of ROW participants from civil society tend to be in conflict with the agenda of their own governments and exceed those in intergovernmental organizations. The chapter recommends a series of changes to ICANN in order to enhance the ROW’s effectiveness in terms of participation.