As per the subject line.
Having utf-8 support would allow us to translate to other languages of a non-latin alphabet.

I've suggested that before and suggested Victor to make LFSWorld in UTF-8 completely, to get rid of those buggy conversions, but he said "no". Still, at LFSW he converts other symbols into html entities like &1234;. The majority uses win1252 with latin alphabet + germanic symbols, they can't understand the importance of UTF and how many problems can be solved.

Just look how nicely wikipedia works, so sad we don't have the same in LFS.