4K is by far more commonly used, but you’ll also find people calling it Ultra HD, or UHD. For the average consumer buying a TV, these are one and the same. But there is technically a difference.
In its correct usage, the term 4K refers to a resolution of 4096 x 2160, which was first introduced in digital cinemas. Meanwhile, UHD is used to describe the UHD refers to a resolution of 3840 x 2160, which is what you get on the 16:9 ratio TVs you actually take home.
So basically, 4K is the wrong term for 3840 x 2160 displays and content, but it’s a mistake so common that there is no functional difference anymore. For most people, the two terms are interchangeable.