Input-output (I/O) placement has always been a concern in modern integrated circuit design. Due to flip-chip technology, I/O can be placed throughout the whole chip without long wires from the periphery of the chip. However, because of I/O placement constraints in design cost (DC) and performance, I/O buffer planning becomes a pressing problem. During the early stages of circuits and package co-design, I/O layout should be evaluated to optimize DC and to avoid product failures. The objective of this brief is to improve the existing/initial standard cell placement by I/O clustering, considering DC reduction and signal integrity preservation. The authors formulate it as a minimum cost flow problem that minimizes alphaW+betaD, where W is the I/O wirelength of the placement and D is the total voltage drop in the power network and, at the same time, reduces the number of I/O buffer blocks. The experimental results on some Microelectronics Center of North Carolina benchmarks show that the author's method averagely achieves better timing performance and over 32% DC reduction when compared with a conventional rule-of-thumb design that is popularly used by circuit designers