Jiu will be turning 30 years old in May by Korean age method, so the song is basically saying goodbye to her 20's which is very significant in Korean culture. The first part was shot in Seoul, but is meant to represent Daejeon where she grew up and went to school.
dreamcatcher \:D/ two chill covers for you ;) and both are actually very popular songs at their time so much so that many others have done covers for both.