A light emitting diode package comprising: a package body (210, 220) having a planar surface and a recess, wherein a bottom surface of the recess is lower than the planar surface; and a light emitting diode chip comprising a substrate having a top surface and a bottom surface, and a light emitting structure formed on the top surface of the substrate, wherein the light emitting structure comprises a first conductivity type semiconductor layer on the top surface of the substrate, an active layer on the first conductivity type semiconductor layer and a second conductivity type semiconductor layer on the active layer, wherein the light emitting diode chip is provided in the recess such that the bottom surface of the light emitting diode chip is below the planar surface of the package body (210, 220), wherein heat generated by the light emitting diode chip is dissipated through the bottom surface and the lateral surface of the light emitting diode chip to the package body (210, 220), wherein the light emitting structure is positioned above the planar surface of the package body (210, 220), wherein the lateral surface of the light emitting diode chip comprises a first section perpendicular to the bottom surface of the light emitting diode chip and a second section having an inclined angle (θ) to the bottom surface of the light emitting diode chip, wherein the side surface of the recess of the package body (210, 220) has an inclined angle (θ') to the bottom surface of the light emitting diode chip which is equal to or less than the inclined angle (θ) of the second section of the light emitting diode chip, and wherein the second section of the light emitting diode chip is formed to match the shape of the recess while the first section of the light emitting diode chip is disposed above the planar surface of the package body (210, 220). a package body (210, 220) having a planar surface and a recess, wherein a bottom surface of the recess is lower than the planar surface; and a light emitting diode chip comprising a substrate having a top surface and a bottom surface, and a light emitting structure formed on the top surface of the substrate, wherein the light emitting structure comprises a first conductivity type semiconductor layer on the top surface of the substrate, an active layer on the first conductivity type semiconductor layer and a second conductivity type semiconductor layer on the active layer, wherein the light emitting diode chip is provided in the recess such that the bottom surface of the light emitting diode chip is below the planar surface of the package body (210, 220), wherein heat generated by the light emitting diode chip is dissipated through the bottom surface and the lateral surface of the light emitting diode chip to the package body (210, 220), wherein the light emitting structure is positioned above the planar surface of the package body (210, 220), wherein the lateral surface of the light emitting diode chip comprises a first section perpendicular to the bottom surface of the light emitting diode chip and a second section having an inclined angle (θ) to the bottom surface of the light emitting diode chip, wherein the side surface of the recess of the package body (210, 220) has an inclined angle (θ') to the bottom surface of the light emitting diode chip which is equal to or less than the inclined angle (θ) of the second section of the light emitting diode chip, and wherein the second section of the light emitting diode chip is formed to match the shape of the recess while the first section of the light emitting diode chip is disposed above the planar surface of the package body (210, 220).