Value engineering is usually done by substitution of materials or change in construction method. One of them is in The Alton Apartment Project in Tembalang, Semarang, which is apply Korean technology on aluminum formwork system called Kumkang. The objectives of this study are to calculate the coefficient of worker productivity, to find out the time required to install the aluminum form (Kumkang) compared to conventional one, and to compare the workers' costs for conventional formwork and Kumkang aluminum formwork. The analytical method of the study uses the Value Engineering Method. The calculation of the workers unit price coefficient analysis of aluminum formwork work (kumkang) equal to 0.025 MD, while of the unit price of workers on the formwork according to the Indonesian National Standard Work Unit (AHSP-SNI) equals to 0.330 MD. The time required of the aluminum formwork (kumkang) installation are 2,47 days for 1582.10 m2 formwork while the conventional formwork needs 32,6 days for the same volume. The cost calculation shows that the worker cost to install Kumkang Formwork is Rp. 7,200,000 while for the conventional formwork is Rp. 79,200,000. Based on the results, it can be concluded that Kumkang formwork technology is more efficient than conventional system.