Ain’t no way you’re releasing a short film with the song about your ex while being in a present relationship.” This reaction from a fan captures the surprise and curiosity surrounding BLACKPINK Lisa’s Dream short film.
Released on February 28, as the 13th track on her debut solo album Alter Ego, Dream was a welcome departure from her usual rap-heavy style. It showed a more vulnerable and emotional side of the BLACKPINK star, which fans rarely get to see.
The song gained more popularity and attention when Lisa performed it during her performances at Coachella 2025. Since its release, BLINKs and Lilies have been trying to connect the dots since the lyrics hint at her past relationship, and particularly, an incident in Tokyo in 2019.
Lisa’s Song “Dream” and Its Emotional Lyrics
While Lisa herself has never explicitly stated that the song is about a former partner, fans are convinced that the lyrics reflect a painful breakup in 2019. These are merely speculations and only the Thai K-pop star and songwriters Her0ism, Ali Tamposi, Shintaro Yasuda, and Feli Ferraro can tell who the song is about. Having said that, these lyrics point to a meaningful memory
Whenever I close my eyes / It’s taking me back in time / Been drowning in dreams lately / Like it’s 2019, baby.
Are you always gonna hate me for that night in Tokyo?
These lines suggest a past relationship that ended abruptly and left lingering questions and unhealed wounds.
‘Dream’ Short Film
On August 13, 2025, Lisa released a short film for Dream, starring Japanese actor Kentaro Sakaguchi. The film shows a bittersweet romance, with Sakaguchi’s voiceover in the trailer saying:
We ended, just like that. All good things must come to an end and so did we. Nothing in this world can rewind time. So all I could do was just look at you. One last time.
Lisa’s look in the film resembles her 2019 style. Fans also noticed that Sakaguchi’s blond hair mirrors the hairstyle of Jung Jaewon (One) from that period.
Clues Pointing to the Ex
Jung Jaewon (One) – The Most Likely Candidate
One left YG Entertainment in July 2019 and subsequently disappeared from the public eye.
Many believe Sakaguchi’s blonde hair in the short film looks similar to his appearance from that period.
In 2019, rumors about Lisa and One’s closeness grew when fans noticed she was holding yellow flowers, different from the pink wreaths One usually sent YG artists. The lyric “Don’t know where you sleep lately” also matched the time he abruptly stopped activities after leaving YG.
BTS’s Jungkook
Some fans have reignited the “Liskook” ship as Jungkook shared Gracie Abram’s Stay on the day of the short film release. It is also due to past dating rumors and visual similarities between him and Sakaguchi. However, this theory lacks substantial evidence and is considered less plausible.
Lisa is Allegedly Dating Frédéric Arnault
Since 2022, Lisa has been linked to Frédéric Arnault, CEO of LVMH’s watch division and son of LVMH Chairman, Bernard Arnault. While they have not publicly confirmed their relationship, they are not hiding their affection for each other as they are often spotted on dates.
While enjoying bandmate Jennie’s Coachella performance earlier this year, eagle-eyed fans noticed that her phone lockscreen is a photo of Frédéric. Lisa often attends TAG Heuer events to support her rumored boyfriend, on the other hand, Arnault is spotted cheering for Lisa at her shows.
On the work front, Lisa is currently on tour with BLACKPINK girls, and the group has already wrapped the US and European legs. After a short break, BLACKPINK will resume their tour in October followed by a reported group comeback in November.
