A coil component includes a body having a recess formed therein, a support member disposed within the body, a coil disposed on the support member, and an external electrode disposed on one surface of the body, the external electrode extending to the recess to be connected to the coil. The external electrode includes a first metal layer disposed on the recess to be in contact with the coil, and a conductive resin layer having at least a portion in contact with the first metal layer.