Transition team announces 5 major tasks of incoming gov`t . FEBRUARY 22, 2013 07:41. . The incoming Park Geun-hye administration plans to develop an index to evaluate performance by large companies, state-funded organizations and local autonomous governments in creating jobs for young people.

The plan is aimed at allowing young jobseekers to compare the quantity and quality of jobs offered by businesses and public organizations and induce voluntary job creation.

President-elect Park`s transition committee on Wednesday announced the measure as a key major task of her administration. The committee also released the incoming government`s five main goals and 21 strategies centered on building a job-oriented creative economy and providing tailored welfare services.

According to the announcement, intensive measures will be taken to reinvigorate the service industry, which is considered a new engine for economic growth. The transition committee said high-value added jobs will be created under a five-year plan to nurture the service sector such as medicine, education and tourism.

On the disputed basic pension system for the elderly, the committee decided on a monthly allowance of 140,000 won (129 U.S. dollars) and 200,000 won (184 dollars), depending on a recipient`s income level in addition to what the national pension plan pays. The plan is different from President-elect Park`s campaign pledge to provide 200,000 won to anyone age 65 years or older.

Choi Seong-jae, chairman of the transition team`s employment and welfare subcommittee, said the basic pension plan will be covered by state coffers and the budgets of municipal and provincial governments. The basic pension for the elderly will be integrated with the national pension plan under the new name "national happiness pension."

By year`s end, the Park administration will also abolish the central investigation department of the Supreme Prosecutors` Office, whose political neutrality has been often questioned in the handling of high-profile cases. But no conclusion was reached on the proposed readjustment of investigative authority between the prosecution and police, leaving the job to the incoming administration.

The government will increase the defense budget at a pace surpassing the growth rate of the national budget given the heightened tension from North Korea`s third nuclear test last week. The committee also took a step back from the president-elect`s campaign pledge to cut the period of mandatory military service to 18 months from 21, saying the proposed reduction will be discussed in the mid to long term.