If the safety depressurization system of APR-1400, the Korean next generation reactor, is in operation, water, air and steam are successively discharging into a in-containment refueling water storage tank through spargers. Among the phenomena occurring during the discharging processes, the air bubble clouds produce a low-frequency and high-amplitude oscillatory loading, which may result in the most significant damages to the submerged structures if the oscillation frequency is the same or close to the natural frequency of the structures. The involved phenomena are so complicated that most of the prediction of frequency and pressure loads has been resorted to experimental work and computational approach has been precluded. This study deals with a numerical simulation on the behavior of air bubble clouds discharging into a water pool through a sparger, by using a commercial thermal hydraulic analysis code, FLUENT, version 4.5. Among the multiphase flow models, the VOF (Volume Of Fluid) model was selected to simulate the water, air and steam flows. A satisfactory result was obtained comparing the analysis results with the ABB-Atom test results which had been performed for the development of sparser.