In the present study, a strongly coupled analysis code is developed for transonic flutter analysis. For aerodynamic analysis, two dimensional Reynolds-Averaged Navier-Stokes equation was used for governing equation, and ε-SST for turbulence model, DP-SGS(Data Parallel Symmetric Gauss Seidel) Algorithm for parallelization algorithm. 2 degree-of-freedom pitch and plunge model was used for structural analysis. To obtain flutter response in the time domain, dual time stepping method was applied to both flow and structure solver. Strongly coupled method was implemented by successive iteration of fluid-structure interaction in pseudo time step. Computed results show flutter speed boundaries and limit cycle oscillation phenomena in addition to typical flutter responses - damped, divergent and neutral responses. It is also found that the accuracy of transonic flutter analysis is strongly dependent on the methodology of fluid-structure interaction as well as on the choice of turbulence model.