A protection circuit module and a rechargeable battery pack including the PCM. The battery pack includes: an electrode assembly, which has a positive electrode plate, a separator, and a negative electrode plate; a case to house the electrode assembly and an electrolyte; and the protection circuit module. The protection circuit module includes: a protection circuit board having an inner surface that faces the electrode assembly and an opposing outer surface; and a protection circuit part mounted in a hole formed in the inner surface of the protection circuit board, such that the protection circuit board is flush with the inner surface of the protection circuit board.