I have been trying to find out the answer to that US$64k question (a 1950s TV quiz show name).
Your preview says
If the camera is set to the NTSC region, the Full HD mode records 1920x1080 pixels at 60Hz interlaced and a bit rate of 17Mbit/s, although the sensor itself outputs 24p. Set to HD, the camera outputs and records 1280x720 pixels at 60Hz progressive, at a bit rate of either 9, 13 or 17Mbits.
If the camera is set to the PAL region, the bit rates and resolutions remain the same, but the Full HD mode is recorded at 50Hz interlaced (with the sensor now actually outputting 25p), while the HD mode is output and recorded at 50p. While files output at 50 or 60Hz are easy to handle for consumers, many enthusiasts and film makers will be frustrated Panasonic didn’t offer an option to record the Full HD mode in the sensor’s raw 24p or 25p output; we hope a firmware update will offer the facility.
Are you saying it is recorded in 3:2 pull-down? I didn't think you could do that with a GOP recording format. If it did, it would throw away 20% of the bandwidth!