A detailed computational fluid dynamics (CFD) simulation analysis model was developed using ANSYS CFX 16.1 and analyzed to simulate the basic design and internal flow characteristics of a 180 MW small modular reactor (SMR) with a natural circulation flow system. To analyze the natural circulation phenomena without a pump for the initial flow generation inside the reactor, the flow characteristics were evaluated for each output assuming various initial powers relative to the critical condition. The eddy phenomenon and the flow imbalance phenomenon at each output were confirmed, and a flow leveling structure under the core was proposed for an optimization of the internal natural circulation flow. In the steady-state analysis, the temperature distribution and heat transfer speed at each position considering an increase in the output power of the core were calculated, and the conceptual design of the SMR had a sufficient thermal margin (31.4 K). A transient model with the output ranging from 0% to 100% was analyzed, and the obtained values were close to the Thot and Tcold temperature difference value estimated in the conceptual design of the SMR. The K-factor was calculated from the flow analysis data of the CFX model and applied to an analysis model in RELAP5/MOD3.3, the optimal analysis system code for nuclear power plants. The CFX analysis results and RELAP analysis results were evaluated in terms of the internal flow characteristics per core output. The two codes, which model the same nuclear power plant, have different flow analysis schemes but can be used complementarily. In particular, it will be useful to carry out detailed studies of the timing of the steam generator intervention when an SMR is activated. The thermal and hydraulic characteristics of the models that applied porous media to the core & steam generators and the models that embodied the entire detail shape were compared and analyzed. Although there were differences in the ability to analyze detailed flow characteristics at some low powers, it was confirmed that there was no significant difference in the thermal hydraulic characteristics' analysis of the SMR system's conceptual design.