The DotCym organization is one of at least 20 geographical-based entities that are seeking to register new TLDs under the liberalization of the TLD space approved by ICANNs Board in June.
Other geographical applications are likely to include .berlin, .nyc, .quebec, .gal, .paris, .eng, .africa and .lat.
The draft rules for applying to run a new TLD are likely to be published before the end of this year, with the first applications expected to be made in 2009.
Each application is likely to cost at least $100,000 and applicants will have to satisfy ICANN that they can run a registry and that their names do not lead to confusion.
Applications can also be challenged on various grounds including that they infringe existing rights.
An application for .cat, for the Catalan language and culture, was approved in 2006. About 30,000 domains have been registered under the .cat domain.
Wales, part of the United Kingdom, has a population of about 3 million. Since devolution in 1999, the Welsh Assembly has power to decide budget spending and also limited legislative powers.
In the Welsh language, which is spoken by about 20% of the population, Cymru means Wales.
Last year, the UK IP Office, which is based in Newport, Wales, said that it would accept applications for patents, trade marks and designs in Welsh as well as English.
Managing IP, in association with Melbourne IT, hosted a free web seminar on the new gTLD process earlier this week. The speakers were Bruce Tonkin of Melbourne IT, Mike Rodenbaugh of Rodenbaugh Law and J Scott Evans of Yahoo.
To see the presentations and hear the discussion and questions, click here.