Billionaire investor Warren Buffett said on Monday that Japanese stocks were good investments after the deadly earthquake that hit the world's third-biggest economy last week.

Buffett said the quake was an enormous blow, but should not prompt selling of Japanese stocks as it presented a buying opportunity.

He was speaking to reporters during his second visit to South Korea to attend a ground-breaking ceremony for a factory run by a unit of an Israeli firm owned by his Berkshire Hathaway Inc.

Japan's Nikkei share average plunged the past week, hit by the country's worst earthquake on record, followed by a tsunami and nuclear crisis.

(Reporting by Hyunjoo Jin; Editing by Jonathan Hopfner)