Walter K. Scott, 62, executive vice president of Radio Free Europe - Radio Liberty in Munich, West Germany, died of a heart attack Saturday while vacationing in nearby Lake Chiemsee.

A former career Foreign Service officer, he was executive director of Radio Liberty in Munich from 1965 to 1973, when he retired.

Mr. Scott, however, returned to Munich on July 1, 1975, to oversee the consolidation and merger of the operational center of the two radios. He was scheduled for a second retirement on June 30.

The stations broadcast news and information to the Soviet Union and Communist East Europe.

Born in Landover, Mr. Scott was a graduate of the University of Maryland. During World War II, he served in Europe with the Army. He was decorated by the governments of France, Britain and Belgium as well as by this country.

He joined the State Department in 1946, and served as a deputy assistant secretary of State from 1950 to 1955. He then was deputy director of management with the International Cooperation Administration for two years.

Mr. Scott was assistant secretary of State for administration in 1958 and 1959, and then was named consul general in Munich, a position he held for four years. He was minister-counselor in Lagos, Nigeria, from 1963 to 1965.

He is survived by his wife, Irene, and five children.