Radial Loewner equation and dispersionless cmKP hierarchy

It has been shown that the dispersionless KP hierarchy (or the Benney hierarchy) is reduced to the chordal L\"owner equation. We show that the radial L\"owner equation also gives reduction of a dispersionless type integrable system. The resulting system acquires another degree of freedom and becomes the dcmKP hierarchy, which is a ``half'' of the dispersionless Toda hierarchy. The results of this article was announced in nlin.SI/0512008.