Out of curiosity, I conducted an investigation recently.  My goal was to identify a parallel to this community in Korean translation.

The commonly used word to identify themselves is 한글화, or "Korean localization".

What I discovered is that there does exist a site commonly regarded as a meeting place that serves to bring announcements from individual hackers and hacking groups to the larger community, a general knowledge base, various discussion forums, tutorials, and databases of fonts, patches, utilities
This site is called Hansicgu (한식구), and its current address is http://hansicgu.hemosu.com/

Many of the larger rom translating groups prefer to have exclusive distribution rights on their translation patches.  Because of the frequency of psges within the community being shutdown by their webhosting services, this can lead to problems obtaining the translation patches. 

One helpful stickied post on the freeboard of Hansicgu is a consolidated list of finished, ongoing, and incomplete translations, found here:
http://hansicgu.hemosu.com/bbs/zboard.php?id=community_free&page=1&sn1=&divpage=2&sn=off&ss=on&sc=on&select_arrange=headnum&desc=asc&no=1397
It's current as of December, with some corrections posted in the comments below.

Almost exclusively, the target language for translation is Japanese, although there is some knowledge of English, evidenced by the presence of tutorials translated from the English.  Communication with the English-speaking romhacking community seems to be an issue.  It's impossible for foreigners to register on the majority of these websites, and I don't see any of their experts posting here, because of the language barrier, and the preference for their own blogs.

I hope this has been a helpful post for those curious about other language communities' romhacking efforts.

It would be so great if there was some information flow going on. We could help them with support on the many English programs and they could help with Korean translation projects like Lakuuna's. Too bad the language barrier seems to be the major hurdle here.

I just checked to see if machine translation could help bring the consolidated translation list to the non-korean-readers, and that was a very funny experience.  Final Fantasy (파이널판타지) translated to "The pie board other [ci] whom it sells" 

If anyone wants to cut right to the utilities etc to give them a spin, they're located at the lower left of the main page:

    패치 자료     patch database
   일반유틸    general utilities
   롬 분석자료    rom analysis database
   폰트 자료 font database

As for why it's impossible to register, there is a fair explanation here: http://wiki.galbijim.com/Resident_registration_number

Here is a summary of some utilities in the "code" section.  There are ~100 more that I didn't touch.
Interest in pursuing any of these further?

vSNES200.zip - SFC save file debugger vSNES200
서몬나이트용.ADF - Summon night 2 pattern file
메트로이드퓨전.adf - Metroid Fusion pattern file
yy_chr_Phantasia.adf - Tales of Phantasia graphic editing pattern file
yy_chr_muindo.adf - YY-CHR pattern file (Maybe for a game in the Mujintou Monogatari series)
s2_view.zip - Seiken Densetsu 2 font editor
srwa_s.zip - [Source] Super Robot Wars A tool (editor)
searchr320.zip - searchr 320 version     searchr320버전   
TileMolester_015a_bin.zip - tile molester 0.15b
searchrx09.zip -  SearchrX(Win32) Korean version
tlp11.zip - Tile Layer Pro 1.1   
변환기.zip -  Korean sentence to [code? what's it called when A = 44, B = 45, etc? That's what this does, except Korean 글자 are 16 bits wide)
 Enter a Korean sentence and it shows the code
[타일에디터]_Tile_Layer_Pro_1.1(한글판).exe - Tile Layer Pro 1.1 Korean version
수정_0.93.zip -    editor version 0.93  - does some stuff with gba graphics
글자수 세기 - character count   
빈도수체크툴.exe - character frequency checking tool
gbacomp20.rar - very good lz77 program
searchr330_한글판.zip - searchr330 Korean version   

I guess they're a closed community requiring a registration number that only Koreans will have...

On the flip side, it would be nice to have everyone's real identity there for all to see. That would probably make a lot of people think twice about what they say and/or causing any trouble.

Well... I happen to have a Korean registration (ID) number.  I could join and take a look arround of anyone really wanted me to.

I find this extremely intresting. Its like looking into another world thats doing the same thing. Diffrent yet the same ya know?

But the sources are mostly out in the open. Anyone can take them.