Embedded board and method of manufacturing the same

An embedded board comprising:

• a first insulating layer;
• a first circuit layer formed inside the first insulating layer;
• a second circuit layer formed on an upper part of the first circuit layer, and the second circuit layer being disposed on the first insulating layer;
• a second insulating layer disposed on a top surface of the first insulating layer, wherein the second circuit layer is disposed in the second insulating layer;
• a first electronic element arranged inside the second insulating layer, the first electronic element being spaced apart from the second circuit layer;
• a metal pillar formed between the first circuit layer and the second circuit layer or the first electronic element;
• and
• a first via formed on an upper part of the second circuit layer inside the second insulating layer, at least a portion of a top surface of the first via in contact with a protection layer formed on an upper surface of the second insulating layer, and the remainder of the top surface of the first via exposed in an opening of the protection layer,
• wherein the top surface of the first insulating layer comprises a polished plane exposing a top of the metal pillar.