Yes it supports HDR, but the issue is the quality of HDR. Hoe good a HDR tv is comes down to its peak and peak sustained brightness. The LGs (all of them) don't have that great a peak sustained brightness. Their oleds are better in the sense that due to their absolute blacks they meet the HDR specification while coming in at a much lower peak brightness.
Simply put, Oled isn't mature enough yet.
I'll go with a Samsung KS8000 series which is the best all round performer or a Sony 850/900d series. Which isn't even as good and also costs more. Where the Sammy shines though is when it comes to input lag. It's input lag hovers around the 20-25ms mark even in HDR mode while the next best thing is the Sony which (post update) is around 40-50ms mark. LGs are usually in the 60+ms range.
The way I see it, a tv isn't something you buy every year, so when you do, go for broke
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