diff --git a/.gitignore b/.gitignore
index 38ab7d96c0..6a0e1af12e 100644
--- a/.gitignore
+++ b/.gitignore
@@ -127,6 +127,7 @@ ENV/
 /scratches/
 logs/
 /*.pid
+/.postgres-volume-backup
 
 # Additional clones for editable components
 /src/ai/backend/webui/
diff --git a/changes/2367.deps.md b/changes/2367.deps.md
new file mode 100644
index 0000000000..1ee9043434
--- /dev/null
+++ b/changes/2367.deps.md
@@ -0,0 +1 @@
+Update the halfstack containers to point the latest stable versions
diff --git a/docker-compose.halfstack-2409.yml b/docker-compose.halfstack-2409.yml
new file mode 100644
index 0000000000..6397fe451a
--- /dev/null
+++ b/docker-compose.halfstack-2409.yml
@@ -0,0 +1,69 @@
+services:
+
+  backendai-half-db:
+    image: postgres:16.3-alpine
+    restart: unless-stopped
+    command: postgres -c 'max_connections=256'
+    networks:
+      - half
+    ports:
+      - "8100:5432"
+    environment:
+      - POSTGRES_PASSWORD=develove
+      - POSTGRES_DB=backend
+    volumes:
+      - "./volumes/${DATADIR_PREFIX:-.}/postgres-data:/var/lib/postgresql/data:rw"
+    healthcheck:
+      test: ["CMD", "pg_isready", "-U", "postgres"]
+      interval: 5s
+      timeout: 3s
+      retries: 10
+
+  backendai-half-redis:
+    image: redis:7.2.4-alpine
+    restart: unless-stopped
+    networks:
+      - half
+    ports:
+      - "8110:6379"
+    volumes:
+      - "./volumes/${DATADIR_PREFIX:-.}/redis-data:/data:rw"
+    command: >
+      redis-server
+      --appendonly yes
+    healthcheck:
+      test: ["CMD-SHELL", "redis-cli ping | grep PONG"]
+      interval: 5s
+      timeout: 3s
+      retries: 10
+
+  backendai-half-etcd:
+    image: quay.io/coreos/etcd:v3.5.14
+    restart: unless-stopped
+    volumes:
+      - "./volumes/${DATADIR_PREFIX:-.}/etcd-data:/etcd-data:rw"
+    networks:
+      - half
+    ports:
+      - "8120:2379"
+    command: >
+      /usr/local/bin/etcd
+      --name backendai-etcd
+      --data-dir /etcd-data
+      --listen-client-urls http://0.0.0.0:2379
+      --advertise-client-urls http://0.0.0.0:2379
+      --listen-peer-urls http://0.0.0.0:2380
+      --initial-advertise-peer-urls http://0.0.0.0:2380
+      --initial-cluster backendai-etcd=http://0.0.0.0:2380
+      --initial-cluster-token backendai-etcd-token
+      --initial-cluster-state new
+      --enable-v2=true
+      --auto-compaction-retention 1
+    healthcheck:
+      test: ["CMD", "etcdctl", "endpoint", "health"]
+      interval: 5s
+      timeout: 3s
+      retries: 10
+
+networks:
+  half:
diff --git a/docker-compose.halfstack-main.yml b/docker-compose.halfstack-main.yml
index 747569b752..d7c00a4050 120000
--- a/docker-compose.halfstack-main.yml
+++ b/docker-compose.halfstack-main.yml
@@ -1 +1 @@
-docker-compose.halfstack-2303.yml
\ No newline at end of file
+./docker-compose.halfstack-2409.yml
\ No newline at end of file
diff --git a/docs/dev/daily-workflows.rst b/docs/dev/daily-workflows.rst
index 25f0910a33..d6858fd801 100644
--- a/docs/dev/daily-workflows.rst
+++ b/docs/dev/daily-workflows.rst
@@ -733,6 +733,26 @@ Making a new release
   To make workflow above effective, be aware that backporting DB revisions to older major releases will no longer
   be permitted after major release version is switched.
 
+Making a new release branch
+~~~~~~~~~~~~~~~~~~~~~~~~~~~
+
+This example shows the case when the current release is 24.03 and the next upcoming release is 24.09.
+It makes the main branch to stand for the upcoming release 24.09, by branching out the current release 24.03.
+
+* Make a new git branch for the current release in the ``YY.MM`` format (like ``24.03``) from the main branch.
+
+* Update ``./VERSION`` file to indicate the next development version (like ``24.09.0dev0``).
+
+* Create a new halfstack compose configuration for the next release by copying and updating the halfstack config of the current release.
+
+  .. code-block:: console
+
+     $ cp docker-compose.halfstack-2403.yml docker-compose.halfstack-2409.yml
+     $ edit docker-compose.halfstack-2409.yml  # update the container versions
+     $ rm docker-compose.halfstack-main.yml
+     $ ln -s docker-compose.halfstack-2409.yml docker-compose.halfstack-main.yml
+     $ git add docker-compose.*.yml
+
 Backporting to legacy per-pkg repositories
 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
 
diff --git a/docs/dev/version-management-and-upgrades.rst b/docs/dev/version-management-and-upgrades.rst
index be02b36856..4a47879207 100644
--- a/docs/dev/version-management-and-upgrades.rst
+++ b/docs/dev/version-management-and-upgrades.rst
@@ -1,6 +1,7 @@
 .. role:: raw-html-m2r(raw)
    :format: html
 
+.. include:: <isonum.txt>
 
 Version Numbering
 =================
@@ -13,7 +14,7 @@ Version Numbering
   * When referring the version in other Python packages as requirements, you need to strip the leading zeros (e.g., ``20.9.0`` instead of ``20.09.0``) because Python setuptools normalizes the version integers.
 
 * ``x.y.z`` is a release tag name (patch releases).
-* When releasing ``x.y.0``\ :
+* When releasing ``x.y.0``:
 
   * Create a new ``x.y`` branch, do all bugfix/hotfix there, and make ``x.y.z`` releases there.
   * All fixes must be *first* implemented on the ``main`` branch and then *cherry-picked* back to ``x.y`` branches.
@@ -27,7 +28,7 @@ Version Numbering
 
 * New development should go on the ``main`` branch.
 
-  * ``main``\ : commit here directly if your changes are a self-complete one as a single commit.
+  * ``main``: commit here directly if your changes are a self-complete one as a single commit.
   * Use both short-lived and long-running feature branches freely, but ensure there names differ from release branches and tags.
 
 * The major/minor (\ ``x.y``\ ) version of Backend.AI subprojects will go together to indicate compatibility.  Currently manager/agent/common versions progress this way, while client SDKs have their own version numbers and the API specification has a different ``vN.yyyymmdd`` version format.
@@ -42,11 +43,153 @@ Version Numbering
 Upgrading
 =========
 
-You can upgrade the installed Python packages using ``pip install -U ...`` command along with dependencies.
+Local packages
+--------------
 
-If you have cloned the stable version of source code from git, then pull and check out the next ``x.y`` release branch.
-It is recommended to re-run ``pip install -U -r requirements.txt`` as dependencies might be updated.
+.. note::
 
-For the manager, ensure that your database schema is up-to-date by running ``alembic upgrade head``. If you setup your development environment with Pants and ``install-dev.sh`` script, keep your database schema up-to-date via ``./py -m alembic upgrade head`` instead of plain alembic command above.
+   Before doing branch switches or package upgrades, stop all Backend.AI services first.
+   For most minor upgrades, you may keep the session containers running, but whenever possible, it is strongly recommended to terminate them first.
+   When there are changes in the agent and kernel runner, it may break up the running containers.
 
-Also check if any manual etcd configuration scheme change is required, though we will try to keep it compatible and automatically upgrade when first executed.
+   For specific configurations or advanced setups, refer to the version-specific upgrade guide or contact the support.
+
+Development Setup
+~~~~~~~~~~~~~~~~~
+
+It is advised to clone a new working copy and perform a clean install to work on a different *release* branch.
+You may keep multiple clones by stopping and starting compose stacks for each working copy for testing.
+
+The following guide is for switching *topic* branches.
+Again, if the target topic branch involves complex database/configuration migration, it is better to make a new clone with a clean install.
+To save the GitHub bandwidth, consider local filesystem clones like ``git clone /path/to/existing/copy /path/to/new/copy`` or minimizing the fetch depth like ``git clone --depth=10 https://github.com/lablup/backend.ai bai-topic``.
+
+1. Run ``./py -m alembic downgrade -N`` if the current topic branch has *N* database migrations.
+   For example, if it has only one migration, say ``-1``.
+   You may check the ``require:db-migration`` label in the GitHub PR to see if the branch has database migrations.
+
+2. Switch to the target topic branch using ``git switch``.
+
+3. Run ``pants export --resolve=python-default --resolve=python-kernel --resolve=mypy --resolve=ruff`` to repopulate the virtualenvs for local execution.
+   This resolve arguments are the minimum-required sets for editor/IDE configuration.
+
+4. Run ``./py -m alembic upgrade head`` if the new topic branch has database migrations.
+
+5. Check if there are any additional TOML and etcd configuration updates required.
+
+Package Setup
+~~~~~~~~~~~~~
+
+If you want to perform a release upgrade (e.g., 23.09 |rarr| 24.03), please consult the specific version's upgrade guides.
+
+For a minor patch update, follow the steps:
+
+1. Upgrade the Backend.AI wheel packages in the virtualenv.
+
+2. Run ``alembic upgrade head`` in the virtualenv.
+
+3. Check if there are TOML and etcd configuration updates required.
+
+
+Halfstack Containers
+--------------------
+
+Backend.AI uses a PostgreSQL database, an etcd cluster, and a Redis service as containers for its operation.
+We call this set of containers as *"halfstack"*.
+When making a new major release of Backend.AI or to address upstream issues, we update the versions of halfstack containers.
+
+A development setup or an all-in-one package setup uses a docker-compose stack, which can be upgraded relatively easily in-place.
+Still, it is advised to do a clean install on a new clone for new major releases.
+
+First, review your current configuration variables used in this guide.
+A typical development setup uses the following values:
+
+- ``${COMPOSE_PROJECT_NAME}``: the name of directory where ``scripts/install-dev.sh`` resides in.
+- ``${COMPOSE_FILE}``: ``docker-compose.halfstack.current.yml``
+- ``${DB_SERVICE_NAME}``: ``backendai-half-db``
+- ``${DB_USER}``: ``postgres``
+- ``${DB_NAME}``: ``backend``
+- ``${DB_BACKUP_FILE}``: set as you want (e.g., ``./db-backup.sql``)
+- ``${POSTGRES_DATA_DIR}``: ``volumes/postgres-data``
+
+Here is the step-by-step guide to upgrade the halfstack containers.
+
+1. Terminate all existing sessions and stop all Backend.AI services first.
+
+2. Backup the current PostgreSQL database content:
+
+   .. code-block:: shell
+
+      docker compose -p ${COMPOSE_PROJECT_NAME} -f ${COMPOSE_FILE} exec -T ${DB_SERVICE_NAME} pg_dump -U ${DB_USER} ${DB_NAME} > ${DB_BACKUP_FILE}
+
+   .. note::
+
+      Currently, etcd is staying at the v3.5 release for multiple years and it is not anticipated to see its major upgrade in the foreseeable future.
+      When it happens, refer to the official upgrade document like https://etcd.io/docs/v3.5/upgrades/upgrade_3_5/.
+      Redis is also same; its version is now pinned to v7.2 release and we expect only patch releases in the foreseeable future.
+
+      You may *skip* the PostgreSQL-related steps if the postgres' major version did not change in the target verion's compose configuration.
+      In that case, you may just do the step 3, 5, 6, and 8 only.
+
+3. Stop all halfstack containers:
+
+   .. code-block:: shell
+
+      docker compose -p ${DOCKER_PROJECT_NAME} -f ${COMPOSE_FILE} down
+
+4. Delete the PostgreSQL database volume with an additional volume backup for the emergency like when the new postgres container cannot read the dump file.
+   If that happens, you could mount the copied directory to a postgres container pinned to the previous version to access the data.
+
+   .. code-block:: shell
+
+      # sudo required as postgres runs as the non-user uid
+      sudo cp -Rp ${POSTGRES_DATA_DIR} ./postgres-volume-backup
+      sudo rm -rf ${POSTGRES_DATA_DIR}
+
+   .. warning::
+
+      This step will *delete* all Backend.AI database!
+      Make sure all backups are verified for integrity before starting the upgrade process.
+      Verify your command twice before running.
+
+5. Overwrite the *current* halfstack compose configuration.
+   The target version depends on your choice, usually in the form of ``yymm`` like ``2309`` or ``2403``.
+   You may also create a new configuration with updated halfstack container versions.
+
+   .. code-block:: shell
+
+      # save the port numbers
+      MY_DB_PORT=$(yq -r '.services.backendai-half-db.ports[0]' docker-compose.halfstack.current.yml|cut -d: -f1)
+      MY_REDIS_PORT=$(yq -r '.services.backendai-half-redis.ports[0]' docker-compose.halfstack.current.yml|cut -d: -f1)
+      MY_ETCD_PORT=$(yq -r '.services.backendai-half-etcd.ports[0]' docker-compose.halfstack.current.yml|cut -d: -f1)
+      # overwrite the compose config
+      cp ./docker-compose.halfstack-${TARGET_VERSION}.yml ${COMPOSE_FILE}
+      # restore the port numbers
+      yq eval --inplace ".services.backendai-half-db.ports[0] = $MY_DB_PORT" docker-compose.halfstack.current.yml
+      yq eval --inplace ".services.backendai-half-redis.ports[0] = $MY_REDIS_PORT" docker-compose.halfstack.current.yml
+      yq eval --inplace ".services.backendai-half-etcd.ports[0] = $MY_ETCD_PORT" docker-compose.halfstack.current.yml
+
+   .. tip::
+
+      Install the ``yq`` utility to read and manipulate the YAML files easily on the shell.
+      Refer to https://mikefarah.gitbook.io/yq.
+
+6. Start the halfstack with the new compose configuration:
+
+   .. code-block:: shell
+
+      docker compose -p ${COMPOSE_PROJECT_NAME} -f ${COMPOSE_FILE} up -d
+
+7. Restore the PostgreSQL database content:
+
+   .. code-block:: shell
+
+      docker compose -p ${COMPOSE_PROJECT_NAME} -f ${COMPOSE_FILE} exec -T ${DB_SERVICE_NAME} psql -U ${DB_USER} -d ${DB_NAME} < ${DB_BACKUP_FILE}
+
+8. Start the Backend.AI services and test.
+   If it successfully runs, remove the volume backup directory so that ``pants`` does not get confused with unreadable directories due to the different uid ownership.
+
+   .. code-block:: shell
+
+      sudo rm -rf ./postgres-volume-backup  # if copied in the step 4
+      rm ${DB_BACKUP_FILE}
diff --git a/docs/install/install-from-package/prepare-database.rst b/docs/install/install-from-package/prepare-database.rst
index a467806454..ed42ba4b0f 100644
--- a/docs/install/install-from-package/prepare-database.rst
+++ b/docs/install/install-from-package/prepare-database.rst
@@ -21,7 +21,7 @@ refer
    services:
       backendai-pg-active:
          <<: *base
-         image: postgres:15.1-alpine
+         image: postgres:16.3-alpine
          restart: unless-stopped
          command: >
             postgres