Recently, various global health issues, including coronavirus disease 2019 (COVID-19), have been observed in relation to rapid changes in world health conditions; consequently, nurses’ global health and cultural knowledge have become increasingly important. Therefore, this study aimed to identify factors affecting the global health and cultural competencies of nursing students. The study design was a cross-sectional study with 108 participants; all participants were fourth-year nursing college students in S and C cities. Global health competency, cultural competency, global health confidence, cultural nursing confidence, and metacognition were surveyed online, and the data were collected from October 30 to November 7, 2018. The collected data were analyzed using descriptive statistics, independent t-test, Pearson’s correlation, and hierarchical multiple regression. The total mean scores for global health competency and the cultural nursing competency were 63.01 ± 8.78 and 134.94 ± 17.78, respectively. Global health competency had a positive correlation with cultural competency (r = 0.49, p < 0.001), cultural nursing confidence (r = 0.26, p = 0.006), and metacognition (r = 0.22, p = 0.023). Cultural competency showed a positive correlation with global health confidence (r = 0.31, p = 0.001), cultural nursing confidence (r = 0.51, p < 0.001), and metacognition (r = 0.40, p < 0.001). Cultural competency was found to be a significant factor affecting global health competency, with an explanatory power of 23.1% (F = 17.10, p < 0.001). Cultural nursing confidence and metacognition had significant effects on cultural competency, with an explanatory power of 34.3% (F = 14.97, p < 0.001). Cultural confidence and metacognition were important factors influencing cultural competency, and cultural competency was shown to be an important factor influencing global health competency.