Korean society has adopted hundreds, if not thousands, of English words, and adapted them to fit the pronuniation of the language. DL is not usually particular about capitalization or punctuation so that should not be a concern. It is easy to get "tricked" in the alphabet section, because were used to reproducing sounds, and likely missed the fact they were all of a sudden asking for a translation. That was certainly the case for me on 아이, and one other instance which I can't recall at the moment.
I think it's a celebration. Because I can't find the word in the name of the Korean parties here: https://en.wikipedia.org/wiki/List_of_political_parties_in_South_Korea
Google says that "political party" is jeongdang ( 정당 ) and "communist party" is gongsandang ( 공산당 ), but I don't know what this word mean.