Package board, method for manufacturing the same and package on package having the same

A method for manufacturing a package board, comprising:

• forming a first connection pad and a cavity pattern on a carrier substrate;
• forming a first insulating layer which is formed on the carrier substrate and has the first connection pad and the cavity pattern embedded therein to expose upper surfaces of the first connection pad and the cavity pattern;
• removing the carrier substrate;
• and
• removing the cavity pattern to form a cavity.

A package on package, comprising:

• a lower package including a first insulating layer formed with a cavity having a penetrating shape, a first connection pad formed to penetrate through the first insulating layer and formed at one side of the cavity, and a first electronic component disposed in the cavity of the first insulating layer;
• an upper package formed on the lower package and including an upper package board and a second electronic component disposed on the upper package board;
• and
• an external connection terminal formed between the upper package and the lower package to electrically connect therebetween.