A coil electronic component includes a body having a first surface and a second surface, opposing each other, and a third surface connecting the first surface and the second surface to each other, an insulating substrate disposed inside the body, a coil portion disposed on the insulating substrate, a first lead-out portion extending from one end portion of the coil portion and having a first spaced portion and a second spaced portion separate from each other by a first slit, whereby the first and second spaced portions are respectively exposed to the first surface and the third surface of the body, and a second lead-out portion extending from the other end portion of the coil portion and having a third spaced portion and a fourth spaced portion separate from each other by a second slit, whereby the third and fourth spaced portions are respectively exposed to the second surface and a third surface of the body.