| CPC H01G 4/2325 (2013.01) [H01G 4/30 (2013.01)] | 20 Claims |

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1. A multilayer capacitor comprising:
a body including a dielectric layer and a plurality of internal electrodes stacked on each other interposing the dielectric layer therebetween; and
external electrodes disposed externally on the body, respectively including a first layer connected to the internal electrode and a second layer covering the first layer,
wherein the first layer includes a metal particle including an element A and a Z-A-O phase disposed in the metal particle, and, the element Z is an alkali metal.
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