Heads up to anyone who got a 2016 MacBook Pro and was thinking of connecting via USB-C port to the new LG 38UC99-W. It does not display any image despite being able to power the MacBook and have connected drives appear on the MacBook desktop. Just a black screen. LG offered no solution and simply said it should work via USB-C port. I was able to get the LG to display when using a display cable and USB-C to DisplayPort adapter. The adapter which shall remain nameless barely accomplished the job and the slightest of movement of the cable resulted in loss of display. I also a experienced a complete freeze of the MacBook while connected to the LG. I tried out a few different 34 inch LG models and concluded that a resolution of 3440 x 1400 has an appearance similar to that of my 8 year old Cinema Display. Given this experience I will not be gambling on the plastic, clunky looking LG 4k & 5k displays that are supposedly "made for the mac".
Hi, I'm sorry you had such a bad experience. It can be frustrating when an Apple product doesn't "just work", since we're used to everything always working

The problem you're having has to do with the cable. You need a high-bandwidth cable. Not all USB-C cables are the same. Some support just USB 2.0 speeds, some USB 3.0, and the "Thunderbolt 3" versions have 20 Mb/s and 40 Mb/s speeds. Since this monitor has such a high resolution, you need the higher bandwidth cable to display video with. This has nothing to do with Apple, MacBook, or the LG monitor, it is just how USB-C and Thurderbolt work.
USB-C has become the new industry standard across all devices and vendors, from Dell to Apple, from MacBooks to the new iPad Pros. A single connector so you don't have to buy and carry 20 different cables. It is a great idea. Now, a high-bandwidth cable is much more expensive to manufacture, a 2m 40 Mb/s cable sells for as much as $80 on Amazon today, so if ALL cables were to be high-bandwidth, it would be prohibitively expensive. There are cheaper cables for charging, or for slower data transfer, and more expensive ones for UHD video. I just wish this was made more clear, I had no idea myself and was disappointed to see a blank screen when I attached my monitor to my new MacBook Air this morning. But a quick google search showed me I need a high-bandwidth cable which I just ordered.
I'm sure this is just USB-C's growing pains. Bottom line is that the entire industry is finally moving to a single cable - for charging, data transfer, display, audio, etc., which will ultimately benefit all users. The days when your friend couldn't charge his/her device (whatever it was - laptop, phone, etc.) at your place, or connect their device to your monitor etc. will soon be over.