A coil component is provided. The coil component includes a body having one surface and the other surface, opposing each other, and a wall surface connecting the one surface and the other surface, a coil portion embedded in the body and having an end exposed to the wall surface of the body, an external electrode including a connecting portion disposed on the wall surface of the body and connected to the end of the coil portion, and an extension extending from the connecting portion onto the one surface of the body, a first insulating layer covering the other surface of the body, and an identification portion passing through the first insulating layer and including the same material as a material of the external electrode.