Printed circuit board and method of manufacturing the same

A printed circuit board includes: an insulating layer including a cavity formed therein, the cavity being recessed into the insulating layer from a top surface of the insulating layer; a first circuit layer formed inside the insulating layer such that a portion of the first circuit layer is disposed within the cavity; a second circuit layer disposed above the insulating layer; a first surface-treated layer disposed above the portion of the first circuit layer disposed within the cavity; and a second surface-treated layer disposed above the second circuit layer.