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I was using Netflix in 4K before last update where I went to reset TV to factory settings, after that I have same issue. Official statement of LG Croatia is that Netflix is playing movies in only 30 FPS where my TV is running at 60 FPS. I have 49UF8507 model.

Nope. No app for that model (I have the same, just 55"). It seems that there is no LG app for many LG tv's produced in 2015. According to some sources it may arrive by the end of march. Stupid LG, and stupid webos....