Domestic construction firms make every effort to save cost and, contrarily, enhance quality for competitive advantage in the market. Structural work of building construction takes chaise of the total cost and schedule, thus elaborate planning and management of the work help to lead the project into a successful way. Therefore, the idea to save time and cost and enhance constructability securing quality and safety of the work should be developed after analyzing the designed documents and site conditions comprehensively in the initial construction planning phase. Value Engineering (VE) technique is introduced in the substructural work in this paper to save cost creatively and systematically in the design and construction phase. A practical VE model that is applied to the underground building work systematically is proposed to save cost and it applies to the actual project to confirm the effectiveness of the model.